Introducing to Unley Area
Have you ever wanted to move to a new area and were just a little bit curious what it had to offer? Before making the big decision to move, did you ever wonder what the area was like, who lived there? What about the other people, parks, schools, streets, surroundings and let's not forget property types and values ?
Unley is one of Adelaide’s growing premier inner-city suburbs with nearly 39k people living in the area. Unley is well established suburb situated within 3km from Adelaide CBD. A tightly-held southern suburbs enclave with a cache of lovely old Adelaide homes. You’ll find good assortment of shops, cafes and services lining King William and Unley Roads. On your walks you will pass a collection of homes with immaculate stone-fronted Victorian villas and three or more bedrooms as well as generous gardens. In the City of Unley, 42.5% of the dwellings were medium or high density, compared to 26% in Greater Adelaide. House prices here regularly top the million-dollar mark. Properties do not stay on the market for long, with average of 67 days till sold but smlightly shorter for units.
In this area you are more likely to encounter highly educated people 37% earning Bachelor or Higher Degree and 38.1% employed as professionals as opposed to 21.6% in Greater Adelaide. It is also notable that the weekly household income is 22.7% higher than in Greater Adelaide. When we take into account that percentage of population with repayments being less than 30% of their income is 1.8% higher than Greater Adelaide may imply more disposable income and market for higher quality goods and services. Unley has only 4.7% unemployment. Less than Greater Adelaide at 5.9% or the rest of South Australia at 5.8%
Unley is senior frieldy city with people over 65yo increasing by 1,373 since 2011. With current trend as illustrated by emerging groups there may be potentialy increased demand for independent living and complementary services. Many may choose the less troublesome to maintain smaller quarters that are closer to amenities and service areas. The multi-use development may be perfect solution. Another emerging group are couples with children, up by 161 since 2011. This may if sustained, signal need for increased services in childcare and early learning.Not withstanding the demand for childrens needs and apparel.
Economic analysis of South Australia shows resilience of the retail market, despite tough economic time. With more women joining the workforce according to statistics, families may be looking at greater combined income and possibly greater dispossable income giving our economy a boost.
On a national scale, the demand for apartment living has increased with nearly 30% of the residents in the 25-34 age group and another 11% of occupants under 14 years. This could indicate trend of young families towards low maintanance living. Numbers for Unley show that Units, a medium density solution have gained popularity. Units in Unley sell on average in 61 days, which is 10 days less than in Adelaide CBD and 31 days less than rest of SA, despite the fact that the median sale price is $91k higher than rest of SA.
Australia now ranks as the third most popular global destination for students studying abroad, creating high demand for student accommodation across the nation. Since 2002 in Adelaide, we have witnessed great increase in international students and even now construction of 2,159 beds is underway. Unley, having population keen for higher education is a perfect place to expand with University and !ll the void providing much needed service.
Our multi use project is a perfect synergy, maximising the use of the land and providing more of the much needed solutions and services in the same footprint where land is at a premium.