Our Suburb


In this section, we take a closer look at the Inner West region of Adelaide that we really like for houses. We digest the data that matters and take a look at the lifestyle elements that make these regions what they are. Below, we also take a look from a macro level, the key data and economics for Adelaide as a city.


The current Premier of South Australia is Steven Marshall,the head of the South Australia Liberal party. Steven assumed office on the 19th of March 2018, having previously been the party's deputy leader in 2012 - 2013. In addition to serving as Premier, Marshall retained responsibility for portfolio areas of The Arts, Aboriginal Affairs and Reconciliation, Defence and Space Industries, Veterans' Affairs and Multicultural Affairs

Inner West


The Numbers



1,295,714 (Greater Adelaide City)


Increasing/Decreasing Population

The population has increased since 2011 by 5.4%


Vacancy Rates

% of properties that are unoccupied. We prefer this to be below 2%.

Torrensville - 0.9%

Thebarton - 0.9%

Mile End - 0.9%

Hilton - 0.6%

Richmond - 0.6%

Adelaide as a whole is 1.2%


The vacancy rates in the region's

are declining


Average Days on Market 

55 days on average to sell a home


Auction Clearance Rates

This is not an auction market


Ratio of Renters to Owner Occupied

On average for the region, 44% are renters / 56% are owner-occupied. We prefer renters to be under 35%. More owner occupiers generally mean properties are better looked after in the area and greater demand for tenants if for an investment.

We have been quite selective in the streets in each suburb that we like and this is due to the proportion on renters vs owner occupiers in those particular streets.


Supply vs. Demand

DSR (Demand Supply Ratio) score of 65. The DSR is a number out of 100 that gauges the demand relative to supply for a residential property market. We look for this to be always over 50. 60 is great, 70 is excellent


Housing Affordability

(Asset to Income)

31%. This is the percentage of the household income that goes towards paying a mortgage. We like this to be under 40%. Given the area is gentrifying and more young professionals moving into the area, we would expect this to decrease.


Monthly Household Income

$5,308 (average across all suburbs)


Established Capital Benchmark

The highest sale price in the suburb (excluding development sites). We always want to ensure our max. budget ($550k) is no more than 75% of the highest sale. 

Torrensville - $1.25M (44%)

Thebarton - $1.01M (55%)

Mile End - $1.05M (53%)

Hilton - $985K (56%)

Richmond - $985K (56%)


For Sale Now (Online) 

Torrensville - 7

Thebarton - 4

Mile End - 7

Hilton - 0

Richmond - 9


Median House Price 

Torrensville - $545K

Thebarton - $566K

Mile End - $595K

Hilton - $550k

Richmond - $516K


Median Rent / Gross Rental Yield 

Torrensville: $403 / 3.8%

Thebarton: $450 / 4.1%

Mile End: $433 / 3.8%

Hilton: $420 / 4%

Richmond: $410 / 4.1%

Last 12 Month Capital Growth

Torrensville: 0% (54 sales)

Thebarton: -2.03% (16 sales)

Mile End: 2.94% (39 sales)

Hilton: 18.22% (10 sales)

Richmond: 5.22% (37 sales)


Public Transport

Bus and Tram services are within walking distance from each suburb. On average, from the closest stop, to the centre of the CBD is no more than 10 minutes.















The Inner West Adelaide Region

Nestled to the west of the Adelaide CBD, the suburbs we have identified are Torrensville, Thebarton, Mile End, Hilton and Richmond. On the skirt of the CBD, the region is positioned with great access into town for professionals, whilst also providing the convenience of the beaches to the east. There is an established rail network within easy reach and the new light rail is within walking distance from all of the above-mentioned suburbs. Making the zone extremely well connected and attractive for tenants and homeowners alike. 
The region has undergone significant gentrification, however, still has much more room to grow and evolve. Noticeably, you get a great sense of this with award-winning and destination cafes and restaurants nestled in amongst the industrial zones - in particular, Thebarton.
Housing is made up of post-war cottages and character bungalows, which is a staple of the housing throughout Adelaide. There are some early signs of homeowners renovating and adding value to their properties. This will continue to grow as we see some of the older dated homes needing some TLC. 
Minor and major shopping centres provide convenience whilst the recently updated Royal Adelaide Hospital is only approximately 2km from the region. Again, proving attractive for tenant doctors and nurses.
From an economic standpoint, on the below heat map, we illustrate the median house price for these regions (in red) vs. similarly positioned inner southern, eastern and northern suburbs (in green). As you can see, in most cases, the Inner West median is approximately half that of its neighbours. Of course, these regions are more desirable, however, as we've seen in Sydney's Inner West and Melbourne's Inner West, once known as the ugly sibling, are now the most desirable spots for homeowners and investors alike. The data points to similar movements in the Adelaide market as the more popular areas become unaffordable for most.
For your property plan, this is a high growth, high yield property we can lease as is. Focus here is on the location and ensuring it has the ability to create organic equity for your portfolio. No specific intentions here to renovate or add value, so we are looking for a turn key opportunity with minimal maintenance expenses.

What's Around


Minimum Purchase Price
Maximum Purchase Price
Renovation Potential
Monthly Surplus / (Loss)


What's Social Media Is Saying

* Milk Chocolate price data used on this website is sourced and relies upon information supplied by a number of external sources (including governmental authorities). This data is supplied on the basis that while Milk Chocolate believes all the information provided will be correct at the time of writing, it does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by you, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information on this website through any cause whatsoever and limits any liability it may have to the amount paid to the external sources for the supply of such information.