The City of Tea Tree Gully was listed the fifth most affordable council area to live with a median rental cost of $281 per week. This is more than 25% lower than the median weekly rental for metropolitan Adelaide according to CoreLogic’s July 2018 Rent Review.
Families and singles looking to live in the City of Tea Tree Gully should consider the Modbury Precinct with an average of rental fee of $290 per week.
Key attractions for Modbury include Westfield Tea Tree Plaza, Modbury hospital and the O-Bahn busway which links the Modbury Precinct to Adelaide in under 20 minutes. The current investment in expanding these major attractions along with affordable rental prices make Modbury an attractive rental option for those interested in living in the North-East of Adelaide.
Jobs in Modbury also continue to increase with the introduction of Datacom at the Tea Tree Gully TAFE campus. Datacom expects to employ more than 600 full-time equivalent staff in Modbury.
With high demand for rental housing, property investors with an interest in the Modbury and the City of Tea Tree Gully area can be confident in rental results. There is also significant public and private development and investment occurring and planned across the Modbury area.
Major Council upgrades include the redevelopment of sections of Reservoir road, Smart road and North East road, as well as the newly developed skate park and active play area at the Modbury Sporting Hub.
The Modbury Precinct is on the way to becoming Adelaide’s finest place to live, meet and do business.