The SA suburbs homeowners are holding on to their properties longest revealed – realestate.com.au

Jessica Brown

Updated 10 Sep 2023, 9:25am

First published 10 Sep 2023, 5:30am

News Corp Australia Network

The Glenunga home at 24 Bevington Rd is on the market with a $2.4m price guide. Picture: realestate.com.au

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Househunters hoping to snap up a house in Glenunga might need a back-up plan.

Latest PropTrack data shows homeowners in the inner southeastern suburb hold on to their houses for an average of almost 16 years.

The suburb has the longest average hold period of any other for houses, with Trott Park (14.18 years), O’Halloran Hill (14.18 years), Whyalla Playford (14.15 years) and Clarence Gardens (14.01 years) following closely behind.

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Harris Real Estate agent Daniel Oliver said there were several reasons Glenunga houses were so tightly held.

“Firstly, it’s the age of the population in the suburb,” he said.

“Then the size of the houses – they’re kind of the forever home.”

Mr Oliver said when homes in the suburb did hit the market, they often sold for high prices because people were so determined to get into the area, especially for school zones like Glenunga International High School.

He recently sold one at 29 Trevorten Ave for $3m – well above the suburb’s median house price, which PropTrack data shows is $1.778m.

Turner Real Estate managing director Lachlan Turner said many homeowners in suburbs like Glenunga stayed there for so long because they initially bought them as their ‘forever’ homes.

“It’s absolutely about the demographic,” he said.

“You can say that about any blue-chip suburbs, especially in the eastern suburbs.”

The Glenunga home at 23 Brooker St is listed for sale with a $2m price guide. Picture: realestate.com.au

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The Brighton unit at 3/5 Almond Grove sold in July last year for $410,500. Picture: realestate.com.au

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Mr Turner said it was a similar situation in areas like O’Halloran Hill, where many people built decades ago when the land was first released then raised their families there and have just never left.

For units, Brighton topped the list with an average hold period of 13.54 years.

Blackwood (12.67) and Payneham (12.50) rounded out the top three.

Alternatively, househunters might have a better chance of snapping up a house in Craigburn Farm, where the average hold period is just over 5 years, or a unit in Glengowrie, where it’s 6.42 years.

Mr Turner said there was a higher turnover in areas like Craigburn Farm as there was plenty of development.

“Craigburn Farm has actually got a lot of vacant land up there and lots of development going on,” he said.

“But there are many high end homes there too.”