The City of Churches is the Only Capital to Record Positive Growth in May
After years in the middle of the pack, Adelaide is now in the limelight. CoreLogic's real estate value index for May 2019 revealed that it was the only Australian capital to post positive growth this month, as its peers were caught up in the national economic slowdown.
The conclusion of federal elections also helped to stabilize the market and increase confidence.
"We have seen a variety of results and announcements that may have a positive effect on housing market conditions," said Tim Lawless, head of research at CoreLogic.
"We now have some certainty about the initiatives announced in the federal budget, a consistent commission structure for mortgage brokers, which represent about 60% of the initial mortgage loans, and the ultimate stimulus for first-time homebuyers. in the form of a federal government. deposit. "
In the affordable quartile of Adelaide, prices rose 0.9% – the highest level since May 2018. The market middle also grew by 0.3%; However, the expensive quarter saw a sharp decline of 2.7% in housing values. The price of housing in the city also increased in March 2019, the proportion of income needed to repay the loans each month decreased by 0.3 percentage point to 26.9% compared to the year before.
At the same time, the March 2019 Housing Affordability Report published jointly by the Real Estate Institute of Australia and Adelaide Bank indicated that, over the same period, accessibility housing declined slightly: the proportion of income needed to pay the average monthly rent increased by 0.4%. the previous year to 22.8%.
Along with the decline of Hobart, this had a negative impact on the rate of national rental accessibility.
The number of loans granted to first-time homebuyers increased 5.6% in one year, to a total of 1,370, indicating a resurgence of activity in this sector. In fact, the first homebuyers in this state account for 5.9% of the country's first home buyers.
According to CoreLogic, Adelaide's consistency, which is generally one of its strengths, was still topical, with the average time on the market not changing significantly over a 12-month period. In April 2018, the sale of properties in Adelaide took an average of 45 days. a year later, they spend 54 days on the market.
SUBURB OF WATCH
PLYMPTON: Prices drop in the southwestern suburbs
In the 12 months ending June 2019, housing prices began to fall in the suburbs of Plympton. After a positive growth trend over the last five years, the value of homes fell 4.5% to a median of $ 569,127. Units, on the other hand, continued their downward trajectory as prices fell 8.5% over the same period to reach a median of $ 258,335.
Located in the southwestern part of Adelaide, Plympton owes its name to a region of Devon in England. It is connected to the Anzac Expressway and the remnants of the Holdfast Bay railway line line this suburb to the east. It's a family-friendly suburb that offers proximity to both the city and the beach.
Affordability: The average price of Plympton units is slightly over $ 250,000
Accessibility: Plympton is linked to the Anzac Expressway and is close to the city and the beach
Get help for your real estate investment
Do you need help in finding the right loan for your investment?
When you invest in real estate, it is important to make sure that you do not only have the lowest available rate that you can get, but you also have the features of ready adapted to your needs.
Just fill in a few details below and we will then make the necessary arrangements for a local Australian mortgage broker to contact you and solve the problem What features or what types of loans are suitable for your needs? We will even help with the paperwork. In addition, an appointment is free.
We value your privacy and treat all your information seriously – you can check