Are you wondering where to buy in Adelaide in 2023? Here are the top five hottest up-and-coming South Australian suburbs to invest.

Adelaide, once an underrated market for property investors, has become more prominent in recent years. Adelaide and regional South Australia have been the strongest and most consistent performers throughout the unpredictable 2022. Since November 2021, Adelaide dwelling values have risen 13.4%, while rental values saw a rise of 12.8%.   

Known as the Silicon Valley of Australia and a world leader in alternative energy development, Adelaide has grown rapidly in its education and defence industries. Furthermore, South Australia’s property boom is unrelenting, with some suburbs in Adelaide experiencing a 70% increase in value in the last five years.  

With Adelaide’s low vacancy rates and affordability, where will be the hottest spots in 2023 to invest? These are our top 5 suburbs that have the potential to provide a steady and consistent return on your investment.


Torrensville is an ideal suburb with a great location; it is only 3 km away from the CBD, close to some amazing facilities, and a short drive from the beach, making it an attractive option for homeowners of all kinds. 

The South Road upgrade is a smart growth indicator for the area, providing a faster and more efficient route to improve travel time. Additionally, some local healthcare facilities are currently undergoing major improvements which will also benefit the local community.  

When it comes to investment properties, this city-fringe suburb full of stunning character homes has tremendous potential. 

Median House Price: $896k | Median Price Change (1 yr): 19.08% | Median Rent: 527pw | Median Yield: 3.4% 



With its old-style architecture and spacious character homes, this suburb in inner-northern Adelaide is a great place to raise kids. Prospect has an excellent school district, making it an even more appealing place for young families. Moreover, since it is close to the city, it is also an ideal place for working professionals.  

Prospect’s property market is strong, characterised by low vacancy rates (0.72%) and solid rental yields. 

Median House Price: $1.1m | Median Price Change (1 yr): 41.03% | Median Rent: $535pw | Median Yield: 2.7% 



A beautiful beach, a great cafe scene, the foreshore that hosts many annual festivals, Semaphore Street Fair, and many other attractions make this seaside suburb one of the hottest ‘up & coming’ places to live in South Australia. 

Moreover, with great schools, a low vacancy rate (0.44%), population growth, economic growth drivers, and its proximity to CBD – Semaphore ticks all the boxes for interested investors promising an attractive seaside lifestyle. 

Median House Price: $998k | Median Price Change (1 yr): 41.49% | Median Rent: $500pw | Median Yield: 2.6% 



Tucked away in a hilly and leafy area, Stirling is a stunning town, situated in the Adelaide Hills just an easy 15-minute drive from the city. 

Averaging 3,877 visits per property per month, the suburb records one of the highest demands of the list entries. The properties are spacious, with high ceilings and generous backyards, and there are many restaurants and cafes in this blue-ribbon suburb.  

With a near-perfect blend of country atmosphere and city sophistication, Stirling’s real estate market is underpinned by strong rental demand and very low vacancies (0.23%), providing long-term stability for investors. 

Median House Price: $1.3m| Median Price Change (1 yr): 19.85% | Median Rent: $625pw | Median Yield: 2.6% 


Aldinga Beach 

A stunning coastal suburb, home to sandy-white beaches and mere minutes from McLaren Vale’s award-winning wineries, Aldinga Beach is a little patch of seaside bliss less than an hour from Adelaide!  

There is nothing better than raising a family in this neighbourhood, with all amenities nearby, a beautiful beach, and a very safe and peaceful setting. 

With so much to offer, Aldinga Beach’s median house sits at $561,000 compared to Adelaide’s median dwelling value of $735,501. Rising rents, good yields, and extremely low vacancy rates stand to provide opportunities for entry-level investors attracted to affordable house prices and high rental returns. 

Median House Price: $561k| Median Price Change (1 yr): 25.28% | Median Rent: $450pw | Median Yield: 4.2% 


Interested in property investment? Contact our OC real estate experts to better understand the current market today & find out the benefits of managing your investment property through Ouwens Casserly. 

Latest News

Straight from the OC News Room