2304/17 Penny Place, Adelaide SA 5000

2304/17 Penny Place, Adelaide SA 5000
2 bed 1 bath | high floor inferred | built 2021 | parking count unclear | compact design-led apartment This is a newer compact apartment in Adelaide’s CBD, built in 2021, which places it well ahead of much of the older inner-city stock in terms of layout efficiency and modern building standards. The unit number suggests a high floor, which may offer better light and outlook than lower levels in the same building, though this is not confirmed. The design-led positioning implied by the listing language points toward an owner-occupier or downsizer appeal rather than pure investor-grade finishes. With two bedrooms and parking reported in some sources, it suits professionals or couples wanting a low-maintenance city base. Its age and configuration give it a functional edge over older two-bedroom apartments in the area, which often have smaller floorplans or no parking. The parking inconsistency across sources may affect how different buyers value the property, as secure parking is a meaningful differentiator in the CBD. Without confirmed floor level or outlook, the unit’s relative desirability within the building remains uncertain, and a lower floor or poor aspect could narrow its appeal. The absence of verified building amenities or finish quality means the price should be tested against comparable newer apartments in similar towers, not against older stock or automated estimates. Buyers should verify the actual floor, view, and parking count before forming a firm view on value.
Detailed Independent Property Report prepared  by PropCred Analyst team for 2304/17 Penny Place, Adelaide SA 5000
Checks found:
Value Risk
Liquidity Risk
Planning Risk ! 1
Income Risk
Execution Risk
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Market Insight

Adelaide’s market is defined by exceptionally tight supply, creating a competitive environment that is driving strong price growth across both houses and units. Demand is underpinned by a diversified local economy and relative affordability compared to eastern capitals, attracting both active buyers and new entrants. This supply-demand imbalance, coupled with improving borrowing conditions, supports sustained upward momentum. However, sharply rising entry prices present a significant constraint for first home buyers, while limited new listings and construction timelines continue to pressure overall market activity.
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PropCred Estimated Value

Bedrooms

2

Bathroom

1

Parking

2

Land

84m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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