SA towns under $200k revealed as Adelaide prices soar

Adelaide property prices may be close to reaching a staggering milestone but there are still bargains to be found across the state – prospective buyers just need to know where to look.

There are just four towns in South Australia with a median house or unit price below $200,000, according to latest PropTrack data, and two of those are under $100,000.

The cheapest is Andamooka with a median house price of $65,000, followed by Coober Pedy, which has a median house price of $80,000.

Meanwhile, Whyalla units have a $178,500 median and Peterborough houses have a $180,000 median.

Coober Pedy is one of the cheapest towns in SA. Picture: SA Tourism Escape

They are a far cry from Adelaide’s median dwelling price, which PropTrack’s latest Home Price Index reveals has reached an all-time high of $898,000.

It looks set to eclipse $900,000 within just weeks as prices are expected to continue rising over Christmas and into the new year.

Across regional SA, the median dwelling price is $484,000.

Andrews Property director Warren Andrews said Coober Pedy was attractive to many prospective buyers not just because it had cheap properties but high rental yields.

“Coober Pedy still seems to be a little bit of a shining light,” he said.

“We’ve been seeing a lot of interest coming from the eastern seaboard.”

Mr Andrews said many of the buyers were young, in their 20s and 30s, and they were purchasing multiple cheap properties in regional areas to renovate then rent out.

The Coober Pedy property at Lot 1313 Post Office Hill Rd sold for $85,000 in October.

The rental yield in Coober Pedy is 17.6 per cent, according to PropTrack data – well above greater Adelaide’s 3.67 per cent for houses and 4.51 per cent for units.

Mr Andrews said the new owners the Coober Pedy property at Lot 1313 Post Office Rd, which sold in October for $85,000, planned to fix it up and lease it.

As soon as prospective tenants saw tidy homes in good condition, he said they were leased quickly.

Meanwhile, Mr Andrews said homes in Andamooka were particularly appealing to prospective buyers who wanted to leverage off its proximity to Roxby Downs, either to live in or lease to people who worked at Olympic Dam mine.

“Some people just don’t want that mining town environment,” he said.

The Andamooka property at 142 Brooks Court is under contract after being listed for sale with a $50,000 price guide.

Mr Andrews said there were plenty of country towns across SA that offered cheap yet lucrative investment opportunities, including the former coal-mining hub of Leigh Creek.

REA Group senior economist Eleanor Creagh said earlier this week that staggering price rises across both Adelaide and regional SA were largely because of low stock, particularly the constrained rollout of new housing, and they were likely to keep climbing.

“Broadly, it looks like further price gains into summer, although the extended pause on interest rates and APRA’s cap on high debt to income lending is probably going to temper momentum into the first half of 2026 so we could see the pace of growth easing off slightly,” she said.

– with Tom Bowden

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