Magill is a compact little suburb just 7 kilometers off the Adelaide Central Business District, a part of the state capital’s eastern suburbs. Although a good portion of the residents here are independents of various ages and students, Magill has kept to its quiet and relaxed vibe that is rare in the parts that are closer to the Central Business District.
Families flock the suburb too in hopes of buying a large house with a decent yard in the best deals. With beautiful bungalows, classic villas, and gorgeous townhouses available to buyers and investors and a steady set of movers and renters coming from the city, entering the Magill real estate market has never been so enticing.
Real Estate in Magill: By the Numbers
Various factors influence the lifestyle of the neighborhood, and the residents themselves are one prime example of such factors. Magill enjoys a quiet and relaxed atmosphere for the locals, while at the same time being convenient in terms of day-to-day needs and being located just a few kilometers from the Central Business District. It thrives in the balance of work and home factors. The top groups of residents here are composed of Established Families and Couples with 19%, and Independent Youth and Matured Independence both standing at 13%.
Buying a house in Magill costs $650,000 in the average. A decent 2-bedroom home is priced at $480,000, while a 3-bedroom home costs $625,000 and the larger 4-bedroom abode somewhere upwards of $720,000. Its current median house price is based upon last year’s 166 home sales. It has increased by almost 33% in the last five years, with a 5.9% compound annual growth rate.
The rent costs $410 per week in average, with 2-bedroom rentals priced at $350 per week, 3-bedroom rentals at $415, and the bigger 4-bedroom rentals at $500 per week. The demand for rent is average in the area, with a rental yield of 3.3% based on 158 rentals. With a steady flow of movers from all over the city and the CBD workforce increasing, more and more people are looking to find a place to buy a decent real estate property in Magill, as they enjoy an average demand from the market with 714 visits per property.
(Data from Realestate.com.au)
Why Choose Magill Real Estate
If you play hard in the city, then you will need a home where you can find peace and tranquility with relative ease. Whether it is an established family looking for a place to call home for a long time or students from the nearby University of South Australia’s Magill campus looking for a place to stay in, this suburb caters to everyone. Craving for a cup of coffee with your mates, or a pint with your colleagues? Head on to Magill Road and visit its amazing cafes and pubs. Looking for mahogany furniture to spice up your home or just quirky little trinkets to make your collection? Magill’s Antique Row is the perfect spot for you. Experience the Tower Hotel, or visit the Penfold Winery’s Magill Estate. There is no shortage of fun and entertainment in this neighborhood, if you know here to look.
Victorian villas are a mainstay in this area, with a bunch of 20th century styles appearing from here to there. Beautiful townhouses are available here too, aside from the student-friendly smart apartments.
Balance is key in Magill. Just a ride away from the CBD, but far enough to create a quiet atmosphere. Residential developments are visible from time to time, while the green is sustained. Truly, Magill is a haven of peace and quiet, away from the bright lights of the CBD.
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Other locations in Australia are equally as desirable as South Australia. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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