23 Australia Avenue, Modbury SA 5092
23 Australia Avenue, Modbury SA 5092
3 bed 2 bath 1 car | Sold $865k after 1 year | 33.5% annual growth | Upper end of street comparables | Short holding suggests strong momentum
What stands out here is the configuration and the speed of value gain. A three-bedroom, two-bathroom home with single-car accommodation is a practical layout for a couple, a small family, or an investor looking for broad tenant appeal. The one-year holding period before the last sale is unusual and points to either a quick renovation flip or a market that moved sharply in the owner’s favour. Sitting near the top of the street’s recent sales range, this property benefits from being part of a corridor that also supports four-bedroom homes at similar price points, which helps underpin demand. It serves best a buyer who wants a solid, low-fuss suburban house with room to add value through presentation or minor updates, rather than someone seeking a premium or oversized dwelling.
The main factors that might shape how this property is priced relate to its exact land size, the quality of its finishes, and how it sits on the street. A larger block or a more favourable aspect could justify a figure above the street’s recent sales, while dated interiors or a smaller footprint may keep it closer to the lower end of expectations. The short holding period also raises the question of whether the price reflects genuine market growth or a specific buyer’s willingness to pay for convenience. Buyers should weigh the condition of the home carefully and consider what comparable three-bedroom houses in the immediate area have achieved recently, allowing for differences in land and layout.
|| Comparable Sales: 45 Australia Avenue sold $890k; 27 Australia Avenue sold $715k | Property Price Band: $800k–$900k | Value Drivers: land size, internal condition, street position
Detailed Independent Property Report prepared by PropCred Analyst team for 23 Australia Avenue, Modbury SA 5092
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Modbury SA 5092 is a well-connected, family-oriented suburb in Greater Adelaide, supported by local school catchments and strong transport links. Demand is driven by younger professionals (20–29) and family households, with high incomes underpinning purchases. Median house prices have climbed to $780,000–$825,000, reflecting annual growth of 6.1%–12.8%, while units range $552,500–$695,000 with growth stretching to 80.3%. Houses sell in 54–75 days, and gross rental yields sit above Adelaide averages; rents are rising sharply as house rents gained 7.8% and unit rents 17.1% annually. Supply is moderate, with just 11 properties listed and 37–129 houses sold per year, but affordability constraints loom, especially with 49% of owners holding mortgages, leaving the market sensitive to rate shifts.
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PropCred Estimated Value
Comparable Sales: 45 Australia Avenue sold $890k; 27 Australia Avenue sold $715k | Property Price Band: $800k–$900k | Value Drivers: land size, internal condition, street position
Bedrooms
3
Bathroom
2
Parking
1
Land
650m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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