601/278 South Terrace, Adelaide SA 5000

601/278 South Terrace, Adelaide SA 5000
Penthouse-tier apartment | parkland edge | three-car garage | 2024 build | premium finishes This apartment occupies a rare position in Adelaide’s high-end market, combining a top-floor layout with an expansive terrace and parkland views, which is uncommon for new-build units in the city fringe. The inclusion of three secure car spaces, a butler’s pantry, and Miele appliances moves it beyond standard luxury into something tailored for buyers who prioritise space and function over raw square metres. It suits professionals or downsizers seeking a primary residence with low upkeep but uncompromised design. The property’s key risk is data inconsistency around block size, though the 205 m² figure appears credible relative to the internal area and should be confirmed via title search. Its positioning near Adelaide High School and the parklands supports long-term value retention, while the three-car garage offers a genuine scarcity in this densifying corridor. Hold this as a permanent home or for targeted rental to executives; its strength lies in owner-occupation appeal rather than speculative gains.
Detailed Independent Property Report prepared  by PropCred Analyst team for 601/278 South Terrace, Adelaide SA 5000
Checks found:
Value Risk 2
Liquidity Risk
Planning Risk ! 1
Income Risk ! 1
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

3

Bathroom

2

Parking

3

Land

37m²

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