Melbourne surpasses Sydney as first investment city

South Australia continues to dampen the downturn in the housing market in the country, while Melbourne has replaced Sydney as a preferred city for Australian investment, according to a CBRE report.

South Australia's diversified and growing economic base is a stepping stone to the continued buoyancy of real estate markets.

"While the housing markets of Sydney and Melbourne continue to suffer from headwinds, the Adelaide residential market is holding up pretty well – it's one of two markets in the world. the capital where housing prices rose in the last quarter of 2018, "Bradley Speers, Australian chief research officer, said at the event" South Australian Market Outlook "hosted by CBRE in Adelaide.

According to Speers, the state also benefits from the growth of its defense, medical, engineering and resource industries.

"The local sector of industry and logistics rebounded very well after the cessation of car manufacturing in 2016. It was supported by large-scale infrastructure projects as well as by spending in the utilities sector, "he said.

Spear also revealed the results of CBRE's 2019 survey of investor intentions in the Asia-Pacific region, during which Melbourne became the preferred investor city for Australians. Investors in the country have slightly neglected Sydney, but this remains a priority for Asian investors.

Buyers were looking to sell more, but also to buy more, creating more active liquid capital markets in 2019.

"Most Australian markets, including Adelaide, will see rental growth this year, which will continue to attract investment from both domestic and foreign investors. South Australia, in particular, has always been shown to be very stable in terms of economic growth and better protected from recessions, which will help position it favorably from the point of view of the economy. 39, investment, "said Speers.

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