Despite a drop in sales volumes during the quarter of September 2019, Adelaide continues to be a rising market, posting a positive outlook all around.
According to the CoreLogic Home Value Index for October 2019, Adelaide declared its strongest quarter since December 2018 and was one of the two capitals to see an increase in rents during this period.
The review of Knight Frank's Australian residential development for September 2019 also noted that, at the close of 2018, Greater Adelaide had the most affordable lot price among capitals, at $ 176,000. In addition, in fiscal 2019, business activity declined in the majority of states and territories – with the exception of SA, where sales volumes quadrupled to 77.6 million. of dollars.
Although the September 2019 quarterly figures of the appraiser general do not seem as rosy, the president of the SA Real Estate Institute Brett Roenfeldt thinks that it is not something that should worry investors.
"The third quarter has traditionally been a period of slowing sales, and these results are comparable to the same quarter of previous years," he explains.
"This quarter is still the most difficult quarter to comment on, particularly in times of low inventory volume, and always sees a further drop in sales volume, which just adds to the aggravating effect. There is no doubt that there is much less stock at the moment, and this has been the case for quite some time now. "
Roenfeldt indicates high median prices as well as consumer confidence as signs of market strength.
“The big news is that the median price remains high, which is certainly a sign of the underlying confidence and resilience of our real estate market. The figures also show that properties with realistic and transparent prices continue to sell well, ”he says.
“Buyers are ready to pay an affordable and realistic price. SA will always be one of the best places in the world to live, work, invest and enjoy a great lifestyle. "
With a median home price of less than $ 500,000, the suburb of Glenalta in the southern foothills of Adelaide was highlighted in the People's Choice of Housing report (published by People & # 39; s Choice Credit Union) as the "most affordable and livable suburb" in Adelaide.
SUBURB TO WATCH
MOUNT BARKER: Stable as it goes
About a half-hour drive from the Adelaide Central Business District is the suburb of Mount Barker, where property values ??have remained fairly constant for the eight years before October 2019.
[1949002] This suburb is fairly affordable, with house prices at just over $ 400,000 and unit values ??at $ 267,539. While unit prices have taken a 4.9% hit in the past 12 months, the suburbs have recovered on the rental market, with rental rates up 13.7% to a weekly average of $ 333 , accompanied by a high average yield of 5.4%.
Mount Barker is the largest city in the Adelaide Hills and has a thriving shopping center, including several shopping centers and restaurants.
Convenience: Large city, Mont Barker has many shopping centers and restaurants
Affordability: House prices fell to a median of only $ 405,848
Top suburbs:
south cardiff
,
bendigo
,
willliamstown
,
Nundah
,
fresh water
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in a property, it is important to make sure that you not only have the lowest available rate you can get, but also
Just fill in a few details below and we will then arrange for a local Australian mortgage broker to contact you and determine the features or types of loans that suit your needs. We will even help you with the paperwork. In addition, an appointment is free.
We value your privacy and treat all of your information seriously – you can check
our privacy policy here
