Adelaide maintained a positive performance at the end of 2019, and it seems that she is about to resume.
"The South Australian real estate market appears to be stabilizing after a period of decline, CoreLogic reporting that regional value added decreased 1.7% while Adelaide increased 0.1% in October 2019 by report for the previous quarter, "says Dennis Wong, real estate research specialist at Real Estate Investar.
"It is an excellent market for new real estate investors, with positive conditions such as low vacancy rates and solid rental yields."
The median home price ranges from $ 400,000 and investors can save while taking advantage of the solid rental market in Adelaide. Recent changes to property tax legislation, which involve reducing the maximum property tax rate from 3.7% to 2.4%, are also expected to attract investors to the market. Major infrastructure projects in the pipeline are helping to support the state economy, such as building the north-south corridor of Adelaide to improve accessibility.
Favorable growing conditions have also been observed in the southeastern region of the state.
"Values ??rose 1.6% in the three months ending November 2019. Considering improvements in commodity prices, the weak Australian dollar and planned infrastructure spending , we are likely to see more positive housing market conditions spreading to other regions in South Australia, "predicts Tim Lawless, research director at CoreLogic.
However, a pink market does not mean that investors should not remain vigilant.
"The proposed zoning changes to come into effect in many suburbs of the metropolitan area in July 2020, it might be the right time to obtain an investment that could benefit from these changes", advises the director of National Property Buyers SA, Katherine Skinner.
"We are witnessing strong growth and new price ranges becoming the norm in the northeast suburbs and the western suburbs, where competition is fierce with buyers who pay well above the prices charged for security a property … However, this continues to be a delicate period for investors, who must be smart when valuing any potential investment property. »
Thus, investors must stick to proven criteria like affordability, quality location and level of demand when it comes to determining the best suburbs to buy.
SUBURB TO WATCH
BLACKWOOD: Growth Slows in the Adelaide Suburbs
The suburb of Blackwood enjoys a favorable location in the foothills of Adelaide. It is known to house the Blackwood Soldiers' Memorial, which is considered a local heritage site.
The Wittunga Botanical Garden has an excellent collection of plants from all over the country, as well as flowers from South Africa. There are also various waterfalls, streams and ravines in the area for nature lovers.
Families can benefit from several nearby schools, including the nearby St Peters Lutheran School and the nearby Blackwood High School and Blackwood Elementary School. Blackwood train station is also a bus terminal, making it easier to get to Adelaide.
Tourism: Blackwood has a local heritage site, a botanical garden and other natural attractions
Education: There are a number of elementary and secondary schools in the Blackwood area
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