Where SA homes cost less now than they did a decade ago

New data has revealed SA’s inflation-defying properties – with homes in three suburbs or towns now having a lower median price than they did a decade ago.

According to REA Group data, buyers can now pick up a house in both Roxby Downs and Coober Pedy, or a unit in Hackham, for less than they would have needed to pay this time in 2015.

Roxby Downs houses currently have a median sale price of $275,000 – from 59 sales over the past 12 months – however, 10 years ago you this was sitting $115,000 higher at $390,000.

The median Hackham unit price is currently $195,500 – some $38,250 less than buyers needed in 2015 when their median was $233,750.

And, at $80,000, a median-priced Coober Pedy house can now be bought for $9,000 less than the $89,000 you needed a decade ago.

Magain Real Estate’s Andrew Robey, who has sold 12 properties in Hackham in the past 12 months, said the perceived value loss is easily explainable.

Magain Real Estate’s Andrew Robey. Picture: Facebook

“There aren’t a heap that sell in there, compared to Morphett Vale which is just next door, so if one or two do sell in there that are high priced and then 10 sell in there that are cheap, that’s going to affect the median,” he said.

“The ones that are decent are selling for $500,000 to $550,000 mark, however what you’re seeing there is the Eureka Care village, which is a lifestyle retirement village and those homes are classed as units – they’re selling for around the $180,000 mark and that’s where that lower median is coming from.”

Of suburbs to have recorded at least 10 sales in both the past 12 months and the comparable 12-month period in 2015, while there were just three suburbs or towns where values have dropped over the past decade, there are some where values haven’t shifted greatly.

Where it’s cheaper to buy than 10 years ago

Suburb	Property Type	Number Sold 12 months	Median Sale Price past 12 months	Median Sale Price 2015	Drop
Roxby Downs	House	59	$275,000	$390,000	-$115,000
Hackham	Unit	23	$195,500	$233,750	-$38,250
Coober Pedy	House	41	$80,000	$89,000	-$9,000

And where property prices have increased by less than $100k

Suburb	Property Type	Number Sold 12 months	Median Sale Price past 12 months	Median Sale Price 2015	Drop
Whyalla Norrie	House	178	$220,000	$192,000	$28,000
Port Augusta West	House	89	$302,500	$263,500	$39,000
Whyalla Stuart	House	192	$216,000	$166,500	$49,500
Ceduna	House	22	$257,500	$205,000	$52,500
Port Pirie West	House	78	$180,000	$117,000	$63,000
Jamestown	House	25	$285,000	$220,000	$65,000
Carrickalinga	House	18	$694,000	$627,500	$66,500
Risdon Park	House	101	$274,000	$197,500	$76,500
Morgan	House	13	$260,000	$179,500	$80,500
Walkerville	Unit	55	$460,000	$379,000	$81,000
Port Augusta	House	201	$240,000	$150,000	$90,000
Glandore	Unit	14	$390,750	$300,000	$90,750
Laura	House	13	$250,000	$158,000	$92,000
Peterborough	House	43	$185,000	$93,000	$92,000

According to the data, 14 locations have recorded a median increase less than $100,000 over the past decade, with another two having recorded a change of exactly $100,000.

Three of these have recorded median shifts of less than $50,000, and all are in SA’s Iron Triangle – Whyalla North, where the median house price is up just $28,000, Port Augusta West where the median price is up just $39,000 and Whyalla Stuart, where the house median is up by $49,500.

Raine and Horne Roxby Downs Property principal Craig Sumsion said the mining town offered affordable buying compared to metropolitan prices.

“I can’t understand why people are not coming here in droves,” he said.

“There’s always work here, and if anyone’s interesting in working in the region or in the mining industry, for South Australia, this is the place,” Mr Sumsion said.

In contrast, the largest median shift over the past decade can be seen in Unley Park, where house values have surged from $1.06m to $3.325m – a whopping $2.265m difference.