The Adelaide housing market continues to be very competitive, as demand continues to overwhelm the limited supply of housing, according to Domain's latest report.
Strong housing demand in the capital resulted in the strongest annual growth in house prices since mid-2010. During the quarter, home values ??rose to $ 599,706.
South Adelaide was the only region to record a double-digit annual house price hike of 11.6%.
“Adelaide is the third most affordable city to buy a home, behind Perth and Darwin. For the first time on record, it is now more affordable to buy a home in Adelaide than in Hobart, ”said Nicola Powell, senior research analyst at the domain.
Unit prices rose 6.9% per year to $ 344,062. However, the rate at which unit prices are increasing appears to be slowing.
Units in southern Adelaide experienced the highest price growth rates in the quarter and year, while most other regions are starting to slow slightly.
Powell said current home and unit sales transactions are at their highest level since 2007. The supply of homes has not been able to keep pace with the demand from buyers, creating a competitive environment that the market has not seen for some time.
"Adelaide has always been largely a homeowner driven market, so less exposed to investor downturn. That said, investors are starting to come back, and lower purchase prices, the rental market. tightened and ending the rental moratorium could attract more investment in South Australia, ”she said.
Top suburbs:
Scarborough
,
Gladesville
,
Keperra
,
woolloongabba
,
Westmead
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