South African cities under $200,000 revealed as prices rise in Adelaide – realestate.com.au

Adelaide property prices may be approaching a staggering milestone, but there are still bargains to be found across the state – potential buyers just need to know where to look.

There are only four towns in South Australia with a median house or unit price under $200,000, according to the latest data from PropTrack, and two of those are under $100,000.

The cheapest is Andamooka with an average house price of $65,000, followed by Coober Pedy, with an average house price of $80,000.

Meanwhile, Whyalla units have a median of $178,500 and houses in Peterborough have a median of $180,000.

They are a far cry from Adelaide’s average house price, which has reached a record high of $898,000, according to PropTrack’s latest Home Price Index.

It looks like the price will surpass $900,000 within weeks as prices are expected to continue to rise over Christmas and into the new year.

In regional SA, the average home price is $484,000.

Andrews Property director Warren Andrews said Coober Pedy was attractive to many potential buyers not only because it had cheap properties but also high rental yields.

“Coober Pedy still seems to be a bit of a shining light,” he said.

“We are seeing a lot of interest from the East Coast.”

Mr Andrews said many of the buyers were young, in their 20s and 30s, and they bought several cheap properties in regional areas to renovate and then rent out.

The Coober Pedy property at Lot 1313 Post Office Hill Rd sold in October for $85,000.

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According to data from PropTrack, the rental yield in Coober Pedy is 17.6 per cent – ​​well above the 3.67 per cent for houses and 4.51 per cent for units in greater Adelaide.

Mr Andrews said the new owners of the Coober Pedy property at Lot 1313 Post Office Rd, which sold for $85,000 in October, planned to refurbish it and rent it out.

According to him, as soon as prospective tenants saw neat homes in good condition, they were quickly rented out.

Meanwhile, Mr Andrews said homes in Andamooka were particularly attractive to potential buyers looking to take advantage of the proximity to Roxby Downs, either to live there or rent to people working at the Olympic Dam mine.

“Some people just don’t want that mining town environment,” he said.

The Andamooka property at 142 Brooks Court is under contract after being put up for sale with a price guide of $50,000.

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Mr Andrews said there were plenty of rural towns across South Africa that offered cheap but lucrative investment opportunities, including the former coal mining center of Leigh Creek.

REA Group senior economist Eleanor Creagh said earlier this week that staggering price increases in both Adelaide and regional SA were largely due to low inventory, particularly the limited rollout of new homes, and were likely to continue rising.

“Overall, it looks like prices will rise further in the summer, although the extended interest rate pause and APRA cap on high debt/income loans are likely to dampen momentum in the first half of 2026 so we could see the growth rate slow somewhat,” she said.

– with Tom Bowden