Media Release

Heritage sporting icon Morphettville Racecourse’s $350M transformation is turning Adelaide’s property market on its head with a stunning trifecta of record prices, unmatchable affordability and an eye-watering sales surge.

As punters gear up for this year’s Adelaide Cup, plant equipment is revving up to start construction on what is undoubtedly Adelaide’s most exciting property development.

The South Australian Jockey Club-led upgrade – by Villawood Properties in conjunction with superannuation giant Hostplus – is also celebrating the Cup with a new home package release in its exclusive The Quarter residential precinct.

The trackside housing component of the course’s broader upgrade, The Quarter has already drawn a thumping $2.72M for one of its three-storey, terrace-topped fence-line homes.

Together with two dozen sales including multiple affordable packages welcomed by new homebuyers desperate to enter the market, it is bringing ground-breaking housing diversity to South Australia market.

It is also shaking up the market with a clear sign of how the state’s housing future will soon look.

The wider Morphettville upgrade will see the course transformed into a key sporting, entertainment, specialty retail and residential hub – and a key drawcard for Adelaide.

Key features of the course’s masterplan include:

• A new community plaza, linking Anzac Highway to Morphettville, for year-round events and creating a grand entry to the racecourse;
• Mixed use apartment buildings with more than 150 residences;
• A supermarket, shops, hospitality outlets, a new SAJC-owned The Junction tavern and, SAJC offices;
• 250 townhouses and low-rise apartments.

Villawood CEO Alan Miller said the construction start and new release of The Quarter homes was historic on two fronts, one as a vital re-imagining of Adelaide’s heritage and, two, as an essential reshaping of diverse and accessible suburban housing in South Australis.

“This is really re-booting Adelaide housing’s possibilities and opportunities,” Mr Miller said.

“It’s showing that the housing crisis can be tackled with good design, great aesthetics and proper affordable homes.

“Morphettville is proving to the rest of Australia that contemporary urban design, architecture and construction really can deliver the goods.