43/34 Austin Street, Adelaide SA 5000
43/34 Austin Street, Adelaide SA 5000
Compact furnished 3-bedder opposite Adelaide Uni | leased $800/wk to Dec 2026 | 54m² with balcony | no parking confirmed | strong 8%+ gross yield
This unit is a rare configuration for the inner-city market: three bedrooms in a compact 54m² footprint, fully furnished and positioned directly opposite Adelaide University. That combination is not common in the precinct, where most stock leans toward one or two-bedroom layouts. The property is currently leased at $800 per week until December 2026, which gives an incoming buyer immediate income certainty and removes vacancy risk for the near term. The Adelaide High School catchment adds a second demand layer, making this suitable for investors chasing yield, or parents wanting a base for a student with rental offset. The private balcony and modern kitchen with gas cooktop are functional extras, though the single bathroom and absence of a car space will limit appeal for owner-occupiers seeking a primary residence.
The small internal size and one bathroom may cap long-term capital growth compared to larger apartments in the same postcode, even with the strong rental profile. Strata costs on inner-city high-rise stock can be significant, and those outgoings will directly reduce net return, so they should be reviewed carefully. The leased income until late 2026 is a stabilising factor, but it also means the next buyer cannot occupy immediately, which matters if you planned to live here. The $495,000–$515,000 asking range sits at a level where yield, rather than scarcity, is doing most of the heavy lifting, so price negotiation should focus on the quality of the tenant, lease terms, and what the actual quarterly levies are.
|| Comparable Sales: 1609/15 Austin St sold $590k in 2020; 1612/15 Austin St listed $405k | Property Price Band: $500K–$600K | Value Drivers: lease security, university proximity, furnished condition
Detailed Independent Property Report prepared by PropCred Analyst team for 43/34 Austin Street, Adelaide SA 5000
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
1
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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
Comparable Sales: 1609/15 Austin St sold $590k in 2020; 1612/15 Austin St listed $405k | Property Price Band: $500K–$600K | Value Drivers: lease security, university proximity, furnished condition
Bedrooms
3
Bathroom
1
Parking
-
Land
54m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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