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South Australian property is in demand by buyers and investors

11 Oct 13

Property website has recently released its quarterly findings on the top suburbs in Australia, and South Australia has come out as the top state.

Suburbs are ranked by their demand by both buyers and investors, providing a valuable insight into the lucrative Australian property market.

For the third time in 2013, popular SA suburb Parkside has topped the list. Belair and Fullarton also made the top ten, which is good news for anyone pursuing a real estate career in the region.

Parkside has a total population of over 11,600 people, and is a mere 2.4km from Adelaide city centre. It's a small area, only 1.63km square in size, and is largely made up of professionals, managers and clerical and administrative workers.

According to information from Property Observer, the median house sale price in Parkside is $652,000 and the average time a property spends on the market is 75.6 days. The median asking rent has increased dramatically since 2008, and now sits at $450 per week.

Property investors, and indeed those undergoing real estate training in the area, will be pleased to note Parkside's positive performance compared to the property market in the rest of the country. Over the past 12 months, median house prices have increased in value by 6.25%.

It's no wonder property in the area is in hot demand. Adelaide was recently ranked the fifth most liveable city in the world, according to a study by The Economist Intelligence Unit. It came out ahead of 35 other cities due to its impressive results in the five measured categories of stability, healthcare, culture and environment, education and infrastructure.