The Adelaide property market offers investors excellent prospects for the New Year, with quality housing on the market
Investor confidence in Adelaide remains strong in light of major infrastructure work designed to stimulate the state's economy.
"Little ole" Adelaide is not in the news, but she continues to work well. Even if those of us who live in Adelaide can get a little angry when we have to drive very slowly by road works, the advantage is that all these big road and railroad projects are creating Jobs, which boosts the South Australian economy, "explains Peter Koulizos, Program Director and Master of Property School of Architecture and Built Environment at the University of Adelaide.
Koulizos highlights the medical sector as a major contributor, with the creation of the new Royal Adelaide Hospital, the SA Health and Medical Research Institute and the University of Adelaide Health and Medical Sciences building. intended to attract professionals in this field. The capital has not yet felt the effects of obtaining major defense contracts for the construction of high-tech ships and submarines for the government.
"This will attract a highly skilled workforce in the state. Based on major infrastructure projects in South Australia, other major capitals' performances and the real estate cycle calendar, Adelaide will be one of the top performers over the next 12 to 18 months. " , predicts Koulizos.
Recent strong market positivity has prompted investors to act more wisely when it comes to buying the right property.
"The month of August 2019 saw a marked contrast in activity between the first half of the month and the last, as well as a general impression on the market," says Katherine Skinner, director from National Property Buyers SA.
"At the beginning of August, we felt the desperation of investors who wanted to embark on bad investment choices only to make a purchase, while there is now a an air of calm and calculation among investors who now have solid options. "
With new shares in the market, buyers have the choice of superior quality properties. Quality housing is sold in a few days.
"We expect to see significant growth with this continued momentum in the spring quarter in some pockets of the metropolitan area, particularly in the northeastern and west-central suburbs."
SUBURB TO WATCH
SOMERTON PARK: The suburbs of Beach maintain some growth
Somerton Park is just 12 km from the Adelaide CBD, and its beach of the same name once gained notoriety as a site of the Somerton Man affair in the 1940s.
Today, however, the suburbs have become a popular living space, with locals praising its peaceful atmosphere and excellent public transportation system. It is also located in the Brighton High School area. The beach has also become a must-see for visitors and residents, thanks to its safe and clean environment.
Unit prices rose 3.3% year-to-date until August 2019, pushing the median to $ 398,646. In contrast, house prices fell slightly.
Tourism: Somerton Park Beach and Quiet Suburbs Attract Tourists and Residents
Amenities: The suburb is in the Brighton High School area, and public transportation is good
Suburbs:
bligh park
,
sunshine
,
Alexandria
,
ferntree gully
,
Glendenning
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