Norwood vs UnleyTwo Adelaide suburbs compared for a home loan
Norwood (SA 5067) is approximately 4 km east of the Adelaide CBD. Unley (SA 5061) is approximately 3 km south of the Adelaide CBD, below the Park Lands. At the 2021 Census, Norwood had 6,354 residents with a median age of 40, and Unley had 3,997 residents with a median age of 41.
The most common occupied dwelling was townhouses and terraces in Norwood and separate houses in Unley. Flats and apartments made up 15% of occupied dwellings in Norwood and 27% in Unley, while 45% of Norwood households rented compared with 36% in Unley. These differences matter for finance, because lenders assess apartments, strata buildings and houses on land differently.
Both suburbs are in the same state, so transfer duty is calculated on the same scale and the difference in upfront cost comes from the purchase price. The panel below applies that scale, and an estimate of lenders mortgage insurance, to the prices you enter.
SA 5067 · Adelaide's inner east
Norwood
Norwood is an inner-eastern Adelaide suburb centred on The Parade, with historic cottages, many townhouses and units, and a large rental market.
City of Norwood Payneham and St Peters. Approximately 4 km east of the Adelaide CBD.
Read the full Norwood guideSA 5061 · Adelaide's inner south
Unley
Unley is an inner-southern Adelaide suburb below the Park Lands where apartments and townhouses outnumber houses and renting is the largest tenure.
City of Unley. Approximately 3 km south of the Adelaide CBD, below the Park Lands.
Read the full Unley guide
What buying in Norwood and Unley would mean for the loan
The difference between two suburbs is usually a difference in price, and price drives the deposit, the transfer duty, any lenders mortgage insurance and the repayment. Enter the prices you are seeing and the panel works out each of those for Norwood and Unley.
Your prices and deposit
Enter the price you are seeing in each suburb. BorrowWise does not quote prices, so the comparison uses yours.
- Loan amount
- $1,980,000
- Loan to value ratio
- 95.2%
- Transfer duty, South Australia
- $108,230
- Lenders mortgage insurance
- Deposit under 5%
- Upfront cash needed
- $211,230
Enter a price for Unley to see the repayment, transfer duty and upfront cash.
Warning: The interest rate used here is an example only. It is not a comparison rate and is not a rate offered by any lender, and it does not include fees and charges. Different rates, terms, fees or loan amounts will give a different result.
Estimates only. Repayments assume a principal and interest loan at a constant rate, which is an assumption and not a current market rate. Transfer duty is indicative for established homes, first home buyer relief depends on eligibility, and upfront cash includes an allowance of $3,000 for conveyancing and inspections. Lenders mortgage insurance is an estimate and is added to the loan. A lender makes its own assessment.
Norwood and Unley: Census profile compared
Figures are from the 2021 Census, so rents, repayments and incomes have moved since. They are most useful for comparing one suburb with another and with Australia as a whole.
| Measure | Norwood | Unley |
|---|---|---|
| People and households | ||
| Residents | 6,354 | 3,997 |
| Median ageAustralia 38 | 40 | 41 |
| Average household sizeAustralia 2.5 | 2.0 | 2.2 |
| Median household income, weeklyAustralia $1,746 | $1,752 | $2,037 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $390 | $372 |
| Median mortgage repayment, monthlyAustralia $1,863 | $2,000 | $2,167 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 45% | 36% |
| Owned with a mortgageAustralia 35% | 21% | 27% |
| Owned outrightAustralia 31% | 31% | 35% |
| Types of home | ||
| Separate housesAustralia 72% | 35% | 52% |
| Townhouses, terraces and semi-detachedAustralia 13% | 50% | 20% |
| Flats and apartmentsAustralia 14% | 15% | 27% |
| Homes with two bedrooms or fewer | 50% | 38% |
| Homes with four bedrooms or more | 10% | 19% |
| Dwellings unoccupied on Census night | 11% | 9% |
Source: Australian Bureau of Statistics, 2021 Census (CC BY 4.0). Tenure shares exclude households that did not state their tenure. Dwelling shares are of occupied private dwellings.
Home loan considerations in Norwood and Unley
Lenders treat houses on land, townhouses and apartments differently, and some apply extra conditions to small apartments, high-density buildings or particular postcodes. These are the points each guide raises.
Norwood
- Upgraders
- Investors
- Downsizers
- First home buyers
- Auction purchases carry no cooling-off period or finance condition in South Australia, so pre-approval and inspections need to be completed before bidding.
- Valuations of character homes can vary because renovation quality, allotment size and parking differ widely between otherwise similar properties.
- Heritage listing or the Historic Area Overlay can limit demolition and alterations, which valuers and lenders take into account for renovation lending.
- Older strata units may have low sinking fund balances, and levies are counted in serviceability assessments.
- Apartments above commercial premises and very small units may attract lower maximum loan-to-value ratios with some lenders.
Unley
- Downsizers
- Investors
- Upgraders
- First home buyers
- Heritage listings and the Historic Area Overlay constrain demolition and alterations on many character properties.
- Auction purchases carry no cooling-off period or finance condition in South Australia, so preparation comes first.
- Valuations of character homes vary because renovation quality, allotment width and parking differ widely.
- Small units and apartments above commercial premises may attract lower maximum loan-to-value ratios.
- Corporation levies are counted in serviceability assessments and reduce borrowing power.
Housing stock in Norwood and Unley compared
Norwood
- Townhouses, maisonettes and row dwellings
- The largest category, at 1,465 of the occupied dwellings counted at the 2021 Census, spanning historic row cottages and modern infill.
- Character cottages and villas
- Nineteenth-century and early twentieth-century stone and brick houses, many within the Historic Area Overlay.
- Home units and apartments
- Mid-century strata units in small groups and newer apartments on and near The Parade.
Unley
- Character cottages and villas
- Nineteenth and early twentieth-century stone and brick houses on narrow allotments, many affected by heritage or historic area policy.
- Apartments and home units
- At 471 dwellings, or 27.1 per cent of occupied homes at the 2021 Census, flats are well above the national 14.2 per cent.
- Townhouses and semi-detached dwellings
- The 350 attached dwellings counted at the 2021 Census are a mix of historic row housing and later infill.
Official sale price and rent figures for Norwood and Unley
Only figures published free of charge by a government agency are shown. Where none is published the space is left empty rather than filled with an estimate. Each guide charts the full series.
Norwood
- Median house price, 2025 Q1
- $2,080,000
- Median weekly rent, houses (all bedrooms), 2024 Q4
- $668
- Median weekly rent, 2 bedroom flat/unit, 2024 Q4
- $575
Source: Office of the Valuer-General, Government of South Australia (published by the Department for Housing and Urban Development on Data SA); SA Housing Trust (SA Housing Authority), from Consumer and Business Services rental bond data.
Unley
No government agency publishes a free median sale price or rent series for Unley, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Transport, schools and amenities in Norwood and Unley
Norwood
Transport
- Adelaide Metro buses on The Parade (bus)
- The Parade (road)
- Portrush Road (road)
- Fullarton Road (road)
Schools and campuses
- Norwood Primary School (primary, government)
- St Joseph's Memorial School (primary, catholic)
Amenities
- The Parade
- Norwood Library
- Norwood Town Hall
- Norwood Swimming Centre
- Norwood Oval
Unley
Transport
- Adelaide Metro buses (bus)
- Unley Park Station (train)
- Unley Road (road)
- King William Road (road)
- Greenhill Road (road)
Amenities
- Unley Road precinct
- King William Road precinct
- Adelaide Park Lands
- Unley Oval
School listings show name, level and sector only. Enrolment areas change, so confirm eligibility for a specific address with the school or the South Australia education department.
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Request a free assessment: Norwood or Unley
An accredited mortgage broker can check your borrowing power against prices in Norwood and Unley, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.