Payneham South
A $1,330,000 median house price in a suburb of just 1,731 people and 0.58 square kilometres signals how tightly land is held in Payneham South. University qualifications reach 48.6%, which is 18.5 percentage points above the national average, and Professionals and Managers together account for more than a third of all employed residents. Italian ancestry is the second most common after English, with 423 residents, reflecting a southern-European settlement pattern that predates the suburb's current premium status. Household income sits at the 49.7th percentile nationally, modest relative to the $1.33 million price point, because 39.6% of residents rent rather than own.
Population
1,731
Median Age
39.0
Household IncomeiMedian weekly household income (ABS Census)
$1,560/wk
DAs (12 months)iDevelopment Applications lodged in the past year
12
Median House
$1.3M
Median 1Q 2026
The median house price of $1,330,000 as of the first quarter of 2026 represents a sharp fall from $1,755,000 recorded in the first quarter of 2025, a decline of 24.2% over a single year. Buyers entering now are purchasing below the recent peak, though the price still sits well above the broader SA median. Separate houses make up 56.9% of dwellings, with semi-detached homes at 23.6% and apartments at 19.5%. Three-bedroom homes account for 41.4% of stock and two-bedroom homes 35.8%, so the market caters mainly to families and couples. Monthly mortgage repayments average $1,789, giving a mortgage-to-income ratio of 26.5%, which is below the 30% stress threshold and lower than many comparable inner suburbs.
For Buyers
The median house price of $1,330,000 as of the first quarter of 2026 represents a sharp fall from $1,755,000 recorded in the first quarter of 2025, a decline of 24.2% over a single year. Buyers entering now are purchasing below the recent peak, though the price still sits well above the broader SA median. Separate houses make up 56.9% of dwellings, with semi-detached homes at 23.6% and apartments at 19.5%. Three-bedroom homes account for 41.4% of stock and two-bedroom homes 35.8%, so the market caters mainly to families and couples. Monthly mortgage repayments average $1,789, giving a mortgage-to-income ratio of 26.5%, which is below the 30% stress threshold and lower than many comparable inner suburbs.
For Investors
A 39.6% renter share is higher than the national average and provides a broad tenant base. Weekly rent averages $331, giving a gross yield near 1.3% against the $1,330,000 median, which is low by any standard. The vacancy rate stands at 7.3%, elevated compared to a healthy market threshold of around 3%, suggesting some softening in rental demand that investors should weigh carefully. Only 6 development applications were lodged in the past 12 months, confirming that Payneham South is essentially built out at 2,997 residents per square kilometre. The 25.8% share of mortgage holders versus 34.6% outright owners signals that a meaningful cohort of long-term holders absorbs stock rather than turning it over, which supports price floors but limits transaction volume.
Development Activity
Total DAs
57
Last 12 Months
12
YoY ChangeiYear-over-year change in DA lodgements
-7.7%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Payneham South iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Joseph's School
R-6 · 494 students
Demographics
The median age of 39 is one year below the national figure, placing Payneham South slightly younger than the national average. Overseas-born residents account for 34.0% of the population, 12.4 percentage points above the national share. Italian ancestry (423 residents) is the second largest group after English (423), reflecting the suburb's historic Mediterranean character. The top non-English languages are Mandarin (69 speakers), Italian (56) and Greek (24). University qualifications at 48.6% run 18.5 percentage points above the national figure. Average household size is 2.4, marginally below the national figure, and couples with children (502 families) outnumber couples without children (304 families), suggesting family formation remains central to the suburb's composition.
Age Distribution
Bedrooms
Dwelling Structure
56.9%
Houses
23.6%
Townhouse
19.5%
Apartment
Tenure
Tenure is split across three groups: 34.6% own outright, 25.8% carry a mortgage and 39.6% rent. The outright owners outnumbering mortgage holders points to an established ownership base with reduced debt exposure. Separate houses represent 56.9% of stock, with semi-detached dwellings at 23.6% and apartments at 19.5%, a mix that gives buyers multiple entry points. Three-bedroom homes are the most common at 41.4%, followed by two-bedroom at 35.8% and four-plus bedroom at 18.5%. The median price fell 24.2% from $1,755,000 in the first quarter of 2025 to $1,330,000 in the first quarter of 2026. Rent-to-income at 21.2% stays below the 25% stress threshold, meaning the rental market remains accessible relative to incomes despite the elevated purchase price.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,789
Rent / wk
$331
HH Size
2.4
Personal Income / wk
$789
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
7.3%
Unoccupied
54
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
21.2%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
26.5%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
23.6%
Couples, no children
1,290
Total families
Economy & Employment
Healthcare leads local employment at 16.7% (106 workers), followed by Professional and Technical services at 14.3% (91 workers) and Education at 12.4% (79 workers). Public Administration accounts for 9.4% and Retail 8.5%. By occupation, Professionals are the largest group (236 workers) and Managers the second (139), reflecting the suburb's highly educated workforce where 48.6% hold university qualifications, compared to 30.1% nationally. The full-time employment rate is 59.9% and the unemployment rate stands at 5.4%, slightly above a tight labour market baseline. The participation rate of 62.8% is moderate, with 455 residents not in the labour force, partly driven by the established older ownership cohort. Household income sits at the 49.7th percentile nationally, which is below what the qualification profile might suggest, likely because the 39.6% renter share includes lower-income households.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
59.9%
Part-time
34.7%
Participation
62.8%
Employed
872
Occupations
Top Industries
University
48.6%
Postgraduate
14.4%
Born Overseas
34.0%
Dwellings
682
Transport to Work
Car dependence is high at 78.8% of commuters driving, above the national average, while 11.3% use public transport and 3.1% walk or cycle. The suburb has no schools recorded within its 0.58 square kilometre boundary, so families rely on institutions in neighbouring suburbs, which is typical for small, high-density inner areas. The crime rate stands at 33.5 incidents per 1,000 residents, based on 58 total recorded crimes, a relatively low absolute count for the population size. The volunteering rate is 19.0%, indicating civic engagement above the typical baseline. Rent-to-income at 21.2% keeps tenants below the 25% stress threshold, and mortgage-to-income at 26.5% is below the 30% stress level, making housing costs manageable relative to incomes despite the suburb's premium price positioning.
Drive
78.8%
Public Transport
11.3%
Walk / Cycle
3.1%
Work from Home
N/A
Safety & Crime
Total Offences
58
Year ending June 2024
Rate per 1,000 People
33.5
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Payneham South compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Payneham South a good suburb to live in?
Payneham South suits buyers and renters who want an established inner-Adelaide address with a highly educated neighbourhood. University qualifications reach 48.6%, which is 18.5 percentage points above the national figure. The median house price of $1,330,000 is premium relative to SA, and a 7.3% vacancy rate suggests some softening in the rental market, but housing cost ratios remain below stress thresholds.
What is the median house price in Payneham South?
The median house price is $1,330,000 as of the first quarter of 2026, down 24.2% from $1,755,000 recorded in the first quarter of 2025. Monthly mortgage repayments average $1,789 and weekly rent averages $331. The mortgage-to-income ratio of 26.5% sits below the 30% stress threshold.
What schools are in Payneham South?
No schools are recorded within the Payneham South boundary in this dataset. The suburb covers only 0.58 square kilometres, so families typically access schools in neighbouring suburbs such as Norwood, St Peters and Hackney. Locally, 48.6% of residents hold university qualifications, 18.5 percentage points above the national average.
Is Payneham South safe?
The recorded crime rate is 33.5 incidents per 1,000 residents, based on 58 total crimes. This is a relatively low absolute count for a suburb of 1,731 people. The volunteering rate of 19.0% and a mortgage-to-income ratio of 26.5%, below the 30% stress threshold, are both indirect indicators of a stable, low-disadvantage community.
Is Payneham South good for property investment?
The renter share of 39.6% is above the national average, providing a broad tenant base, but gross yield is approximately 1.3% against the $1,330,000 median and $331 weekly rent. The 7.3% vacancy rate is elevated compared to a healthy 3% threshold. The 24.2% price fall from the 2025 peak creates a potential entry point, but recovery timing remains uncertain.
How is Payneham South's population changing?
Payneham South has 1,731 residents across 0.58 square kilometres, giving a density of 2,997 per square kilometre. At that density, significant population growth is unlikely because the suburb is already built out. Only 6 development applications were lodged in the past 12 months, all focused on alterations and extensions rather than new dwellings.
What languages are spoken in Payneham South?
About 34.0% of residents were born overseas, which is 12.4 percentage points above the national share. Italian (56 speakers) and Mandarin (69 speakers) are the two most common non-English languages, followed by Greek (24) and Punjabi (22). Italian ancestry (423 residents) is the second most common after English, reflecting a longstanding Mediterranean community.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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