PROPERTY MARKET FOCUS: MUNNO PARA
Our research team are always on the lookout for new, up-and-coming suburbs around Australia that show strong capital growth prospects.
Recently, our research team have had their eyes on the idyllic suburb of Munno Para. Munno Para is a northern suburb of Adelaide, South Australia. This property market focus will delve into the key macro and micro fundamentals of the market.
Market Location And Key Amenities.
Munno Para is a low residential housing market that boasts a variety of parks, sporting facilities, walking tracks and has a mix of highly regarded public and private schools.
The suburb is geographically well-positioned within 44km (40 minutes) to Adelaide CBD, as well as a short commute to Semaphore Beach and Barossa Valley.
The Barossa Valley is home to more than 150 picturesque vineyards and 80 cellar doors as well as many restaurants, historic homesteads and classic hotels and is one of Australia's most famous wine regions.
Property Market Overview.
Munno Para is highly demanded by young couples and families due to the proximity to the Adelaide CBD offering city living aspects, but the area still offers beautiful open spaces.
Munno Para is part of The City of Playford known as a local government area comprising some of Adelaide's Northern suburbs. The City of Playford recorded a population base of 89,372 as of 2016. This was an increase of 10,257 residents from the previous census recording taken in 2011 .
Residents of Munno Para also have the option of commuting to the city via the nearby train stations in Munno Para and Smithfield railway station near the major shopping centre. This proximity will have a positive influencer on potential homeowners and investors in the future.
The suburb has all the key amenities required by families nearby and is anchored by a major shopping precinct. The Munno Para Shopping City has over 110 specialty stores, cafes and dining for residents.
In addition, the suburb will see great benefits from the surrounding employment sectors and higher education offerings, all within 20 minutes from Munno Para.
Young residents of Munno Para will also benefit from having quick access to the University of South Australia Mawson Lakes Campus which is part of UniSA which boasts over 37,000 students, 6800 international students and over 2900 staff .
The fundamentals look to be aligning for the Munno Para market which experienced a correction in property prices from 2014 until the end of 2019 before entering a growth phase of the property cycle in 2020.
Property Market Statistics.
The Munno Para market experienced strong capital growth in 2020 increasing 12.8% and has experienced a further 7.9% growth in 2021 so far .
As of July 2021, the property gross rental yield for houses in the market is 5.8% .
The vacancy rate is 0.3% as of July 2021 - this is considered an undersupply within the rental market .
Looking to get the property investment conversation started?
Or, just looking to stay in the loop?
Jarryd Gauci – Property Investment Consultant
P: (02) 9939 3249
Disclaimer: When considering purchasing a property, it's always prudent to seek the advice of an appropriately qualified professional to determine which strategy is most appropriate for your circumstance.
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