3 Richardson Road, Elizabeth South SA 5112
3 Richardson Road, Elizabeth South SA 5112
1960s brick house | 3-bed core stock | redevelopment pocket | value-add potential | investor and first-home interest.
This property sits within a well-established pocket of Elizabeth South where the dominant housing form is older, single-storey brick homes from the early 1960s. If it follows the street pattern, it likely offers a practical three-bedroom layout with a single bathroom and multiple off-street parking spaces, often on a land parcel large enough to consider future subdivision or dual-living opportunities. The suburb attracts a mix of owner-occupiers looking for affordable housing they can improve over time, along with investors drawn to consistent rental demand. For a buyer willing to update finishes, this type of property typically rewards with both improved liveability and stronger rental return, given the area’s active tenant market and proximity to transport, shopping, and hospital amenities.
The value of this house may be shaped by its current condition relative to nearby renovated examples, which often feature updated kitchens, solar panels, and security upgrades. Land size and frontage could also influence its appeal, particularly if there is scope for reconfiguration or development, though any such potential would depend on council consent and overlay considerations. Older construction may mean higher ongoing maintenance, and the presence of a flood overlay in parts of the suburb is worth checking before committing. Buyers should weigh the cost of upgrades against the entry price, as unrenovated stock generally sits at a noticeable discount to improved properties in the same street.
|| Comparable Sales: 17 Richardson Road sold $135k in 2012, now listed $580k–$620k; 3 Whitford Rd sold $510k in Sep 2025 | Property Price Band: $500k–$600k | Value Drivers: land size, renovation potential, subdivision feasibility
Detailed Independent Property Report prepared by PropCred Analyst team for 3 Richardson Road, Elizabeth South SA 5112
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
2
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Market Insight
Elizabeth South SA 5112 is a thinly traded outer-Adelaide market. Annual house sales of 60–65 with median days on market of 38 indicate tight supply and quick absorption. However, reported prices diverge materially: YIP records medians of $510,000 and $520,000 with annual growth of 10.9% and 8.8%, while property.com.au shows $556,000 and 15.2%. This spread reflects low transaction counts, not fundamental disagreement. Units are effectively illiquid, with one sale in the past year, and house rents average $450 weekly. No demographic, infrastructure, or vacancy data is available, so demand drivers remain unquantifiable; the principal constraint is data reliability itself.
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PropCred Estimated Value
Comparable Sales: 17 Richardson Road sold $135k in 2012, now listed $580k–$620k; 3 Whitford Rd sold $510k in Sep 2025 | Property Price Band: $500k–$600k | Value Drivers: land size, renovation potential, subdivision feasibility
Bedrooms
2
Bathroom
1
Parking
2
Land
561m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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