Located in South Australia within the Adelaide local government area, North Adelaide is a moderately sized suburb (postcode 5006). With a population of 6,823, the suburb has an established family demographic with a median age of 39. Households earn a median income of $97K per year, with an average household size of 1.9 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +3.2% year-on-year at the LGA level. SA employment has moved +2.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. SA also had 23 Commonwealth-backed major projects under construction, 2 underway, and 11 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, community & personal service. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Irish.
The median house price in North Adelaide is $2.5 million, having surged by 48.1% over the past year. Units have a median price of $750,000 (+4.2% YoY). The current median weekly rent is $642. This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $1,914.
North Adelaide is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 1112, which is well above the national average of 1,000. Public transport access includes 1 rail station, 73 bus stops. Healthcare facilities include 1 public and 2 private hospitals. The crime rate in the Adelaide LGA is higher than average at 11,227 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 1.3% (low yield). Property prices are above the state median ($2.5M/$950K), placing it in the premium segment. The price-to-income ratio of 25.5x is considered stretched. House prices have moved +48.1% year-on-year. Population growth of +3.2% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.