A collection of stylish new townhouses in Prospect have hit the market, offering contemporary living for hundreds of thousands of dollars less than the suburb's median home price.
Eight double-storey townhouses are now for sale at Renewal SA's Prospect Corner, each listed on the State Government's HomeSeeker SA website for $675,000 including up to 25% shared equity through the HomeStart scheme.
The median sale price of a two-bedroom home in Prospect according to realestate.com.au is $955,000.
Homes listed on the HomeSeeker SA website are considered 'affordable' and are specially priced to support first-home buyers, families, and individuals on low to moderate incomes to achieve home ownership.
Each townhouse includes two bedrooms and a study nook on the second floor, a main bathroom upstairs with an additional toilet downstairs, a single garage, an open-plan kitchen, dining, and living area on the ground floor, and a generous back yard.
The homes are located on the northern edge of the development, just 100 metres from Islington train station.
In addition to the affordable homes, two larger townhouses have also been released for sale at $850,000.
These larger homes offer three bedrooms including a main bedroom with ensuite and walk-in robe, two additional bedrooms, a second bathroom, and a study nook upstairs.
The ground floor features an expansive open-plan kitchen, living, and dining area that opens onto a large decked outdoor dining space and generous sized backyard.
There is also a laundry and a drive-through garage with space for a second car in the back yard.
All homes in this release will be built by family-owned national builder Burbank and sold by locally owned sales agency Taarnby.
This marks the fourth release of homes at the Malinauskas Labor Government led Prospect Corner site since the first stage launched in September 2023, which sold out within weeks.
To date, 50 townhouses have been sold. Construction on the first 17 homes began in late 2024, with the first residents expected to move in by September this year.
Meanwhile, construction is underway on Payinthi Reserve, the central park of Prospect Corner and the first of three planned green spaces.
Scheduled for completion in July, the reserve will feature a large central lawn, a plaza with all-weather shelters, BBQ facilities, bike racks, and drinking fountains.
To the west, there will be an active zone with fitness equipment, a nature play area, additional bike racks and drinking fountains, and low seating walls.
A range of premium, park-facing townhouses will be released later this year.
Located just seven kilometres from the Adelaide CBD, Prospect Corner sits at the intersection of Churchill and Regency Roads.
Once complete in 2028, the 2.36-hectare site will deliver 208 new homes, 55% of which will be affordable, including a mix of townhouses and apartments across two buildings.
Click here for more information about these properties.
As put by Nick Champion
This is an incredible opportunity for first-home buyers and families on low to moderate incomes to secure a home in one of Adelaide's most sought-after suburbs paying significantly less than the local median price.
Prospect Corner demonstrates our innovation in housing policy, offering affordable homes with shared equity and helping more South Australians achieve the dream of home ownership.
The ongoing success of Prospect Corner shows the strong demand for high-quality, affordable homes close to the city and we are committed to delivering more opportunities like this across the state.
