Find a Mortgage Broker in Adelaide

Information verified correct on December 11th, 2016

Find the perfect home loan for your requirements with the help of a trusted local mortgage broker in Adelaide.Mortgage broker Adelaide

The cosmopolitan capital of South Australia, Adelaide combines a thriving cultural scene with acres of parkland and abundant coastal beauty. Known as the “City of Churches”, Adelaide was founded in 1836 and today is home to around 1.3 million people. It boasts pristine beaches, world-famous festivals and easy access to some of the best wine country in the world.

If you want to buy property for yourself or as an investment in Adelaide, consulting a local mortgage broker is an effective way to access the financing you need at a competitive rate.

Which brokers have offices in Adelaide?

Broker Details No. of Lenders
Aussie Home Loans Details and Application
Aussie Home Loans

Aussie is one of Australia's leading financial service providers, having won The Adviser’s Top Mortgage Broker award for the last 3 years. They charge no appointment fees and can meet at a time and place which suits you.

20 Enquire
More info
Online Home Loans Details and Application
Online Home Loans

Online Home Loans is a mortgage broker service designed to help Australian borrowers find the right home loan – and do it all online.

Enquire
More info
iConnect Financial Services
iConnect Financial

iConnect has hundreds of loans available through more than 40 lenders in Australia to choose from to find the home loan that is right for you.

40+ Enquire
More info

Other brokers

  • Loan Market
  • Mortgage Choice
  • eChoice
  • Assured Home Loans
  • Australian Mortgage Brokers
  • Urbantech Finance
  • AAA Mortgage Solutions

What are the main suburbs within Adelaide?

Mortgage Broker Adelaide map

Source: Google Maps

1. Adelaide

The Adelaide city centre comprises two main sections: the Adelaide Parklands and the so-called "square mile", which is bordered by North, East, South and West Terraces. The site of the Parliament of South Australia, Adelaide’s city centre has a population of 12,961.

The two largest demographic groups in Adelaide are independent youth (37.4%) and maturing and established independence (20.8%). The median weekly household income in the suburb is $949.

The median house price in Adelaide is $785,000, annual capital growth is 7.11% and gross rental yield is 3.18%.

2. Morphett Vale

This southern suburb of Adelaide is the largest in the state, with a population of 22,602. Home to more than a dozen schools, Morphett Vale is a mostly residential suburb.

The two largest demographic groups in Morphett Vale are older couples and families and established couples and families, which respectively make up 18.9% and 14.3% of the population. The median weekly household income in the suburb is $913.

Morphett Vale’s median house price is $294,250, annual capital growth is 4.43% and gross rental yield is 5.48%.

3. Parafield Gardens

The largely residential suburb of Parafield Gardens is found 16km north of the Adelaide CBD. It features two shopping centres, five schools and a small industrial area.

The population of Parafield Gardens is 15,318 and the median household income is $980 per week. The two largest demographic groups in the suburb are established couples and families (21.8%) and older couples and families (19.1%).

The median house price in Parafield Gardens is $305,000, annual capital growth is 5.02% and gross rental yield is 5.29%.

4. Prospect

Prospect is a northern suburb of Adelaide that is just a short drive from the heart of the city. It features many Victorian-era homes and is popular for its proximity to the city and its abundant parklands.

Prospect has a population of 13,008 and a median weekly household income of $1,349. The two largest demographic groups in the suburb are established couples and families (19.7%) and older couples and families (15.8%).

The median house price in Prospect is $565,000, annual capital growth is 5.49% and gross rental yield is 3.68%.

5. Hallett Cove

Hallett Cove is a pretty coastal suburb more than 20km south of the Adelaide CBD. It combines relaxing beachside living with facilities including a large shopping centre and three schools.

With a population of 12,256, Hallett Cove is dominated by older couples and families (30.6%) and established couples and families (21.0%). The median weekly income in the suburb is $1,465 per household.

The median house price in Hallett Cove is $432,720, annual capital growth is 4.77% and gross rental yield is 4.33%.

Buying property in Adelaide

If you want to buy property in Adelaide, take the following issues into consideration before choosing a house:

  • Twin Tower Apartment Complex. In December 2015 it was announced that the Newmarket Hotel would be demolished and replaced with a $200 million development. Featuring 24-storey residential and retail towers, the development site is found at 1 North Terrace.
  • Property prices. In the 10 years from 2005 to 2015, the median house price in Adelaide increased from $406,500 to $701,000. During the same period, the median unit price increased from $295,000 to $435,850.

Suburb property prices in Adelaide

Adelaide

Mortgage broker Adelaide - Adelaide

Source: APM PriceFinder

From 2014 to 2015, Adelaide’s median house price increased from $658,250 to $701,000.

Morphett Vale

Mortgage broker Adelaide - Morphett Vale

Source: APM PriceFinder

Morphett Vale’s median house price rose from $289,000 in 2014 to $295,000 in 2015.

Parafield Gardens

Mortgage broker Adelaide - Parafield Gardens

Source: APM PriceFinder

From 2014 to 2015, the median house price in Parafield Gardens increased from $297,500 to $300,000.

Prospect

Mortgage broker Adelaide - Prospect

Source: APM PriceFinder

Prospect’s median house price decreased from $575,000 in 2014 to $565,000 in 2015.

Hallett Cove

Mortgage broker Adelaide - Hallett Cove

Source: APM PriceFinder

From 2014 to 2015, Hallett Cove’s median house price remained the same at $435,000.

What will a typical mortgage cost in Adelaide?

To buy a house in Adelaide at the median price of $785,000, a 20% deposit of $157,000 would be required. If you then took out a home loan to borrow the remaining purchase price of $628,000 at an interest rate of 4.50% p.a. on a 25-year loan, your fortnightly repayments would be $1,610.18. The total cost to you over the life of the loan would be $1,046,617.55.

Buying a unit at the median price of $446,000 would require a 20% deposit of $89,200. Borrowing the remaining $356,800 on the same terms as above would lead to fortnightly repayments of $914.83 and a total cost of $594,638.76.

How is a mortgage broker paid?

Mortgage brokers make their money on commissions from new lenders for directing new customers to them. They receive an upfront commission when you sign up for a loan and a trailing commission each year you are still repaying your mortgage. But if you decide to refinance with another lender, the broker will need to pay back some of the money they received from the original lender in the form of a clawback commission fee.

Read our page about the broking process for more information.

How does a mortgage broker work?

Mortgage brokers have a legal responsibility to ensure that they help you find a loan you can repay without putting yourself into financial difficulty. Once they have assessed your financial situation and your borrowing power, a broker will present you with a choice of appropriate loans offered by their panel of lenders.

Get more more details on what a mortgage broker can do for you.


Picture: Les Haines, licensed under Creative Commons Attribution 2.0 Generic (image cropped)

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