31A Leonard Street, Magill SA 5072
31A Leonard Street, Magill SA 5072
new 2023 build | high building coverage at 81% | premium eastern suburbs | owner-occupier street | near good schools
The property’s competitive edge lies in its rare configuration for Magill: a 2023 build with an 81% site coverage delivering 298 square metres of internal space on 370 square metres of land. This is a house designed for volume and low maintenance, not for subdivision or outdoor expanse, and it is this efficiency that makes it unusually appealing to families seeking contemporary specifications in an established suburb. With the street showing 80% owner-occupiers and proximity to East Torrens Primary and Morialta Secondary College, it serves a buyer who values immediate occupancy over future development potential.
The primary risk is pricing: at an estimated $1.66 million, this house asks above Magill’s four-bedroom median of $1.49 million, and the suburb’s 25% auction clearance rate signals thin demand at that level. The high building coverage also limits any land banking strategy, but for a quality home in a growth corridor, that constraint is neutral. The opportunity is in the 70-day average days on market—it suggests buying with a pre-auction offer could secure it without protracted competition. Hold this property for its depreciation advantages and family lifestyle, not for speculative land gain.
Detailed Independent Property Report prepared by PropCred Analyst team for 31A Leonard Street, Magill SA 5072
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Magill presents a compelling entry point into Adelaide’s market, characterised by strong demand from a younger demographic and a notable supply shortfall. This dynamic is fuelling robust price growth, particularly for units, which are achieving exceptional annual appreciation. The market remains active with houses transacting at a steady pace, supported by broader state migration trends and relative affordability. Future growth is underpinned by these persistent demand drivers, though broader economic sensitivities and policy impacts on investors present potential headwinds.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
370m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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