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Housing Affordability in Morphett Vale

By Scott Nowak

Morphett Vale is widely known as offering affordable houses, whether you’re buying your first home or upgrading to the family home Morphett Vale seems to have something to suit every budget.

There seems to be a steady demand for homes in Morphett Vale, and as a result there have been 353 house sales over the past 12 months. We have also seen the Median house price rise by 4% during this period to $289,000.

Although the majority of properties in Morphett Vale are sold between $200,000 – $300,000, there is still a strong demand for the larger, more expensive modern family homes, which have achieved prices well in excess of $400,000 throughout the past year.

Units have gone against the upward trend with the median price falling by 2.3% to $225,000 over the past 12 months. The demand for Units is still pretty high, but with the attractive low interest rates at present, some buyers are opting to secure an entry point house over a Unit purchase.

No matter what you are looking for whether it be 2, 3, 4 or more bedrooms Morphett Vale is sure to have a property that will suit your needs and price range.

*Figures correct as on 15/10/2014 from pricefinder.com.au

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