Unlike other capital cities such as Sydney and Melbourne, Adelaide has withstood the drastic real estate fluctuations brought by the pandemic. It has maintained a stable property market while still nurturing a growing economy–this is why now’s a great time to invest in homes for sale in Adelaide.
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The Adelaide Property Market
The Adelaide property market has seen some growth over the past years, with house prices rising 28.1% in a year. This upswing lost steam recently, probably because buyers are stifled by asking prices, with houses edging close to double the cost of a unit.
Still, the market remains consistent, especially compared to Sydney and Melbourne, where housing prices even dropped in recent months.
Though slower than before, Adelaide property values continue to go up, and real estate practitioners predict that this stability will continue, especially in middle to lower-priced suburbs where buying is cheaper than renting.
They also see sales prices, transactions, and listing numbers remaining steady in the near future.
Is It a Good Time to Invest in Adelaide Property?
To answer, we have to ask if Adelaide house prices will fall, and it doesn’t seem so.
The mix of urban and coastal lifestyles and the affordable cost of living in Adelaide have made it a great place to settle down in. Add its dependable real estate market and its flourishing economy, and you’ve got a formula for a worthwhile investment.
On average, the return on investment (ROI) on Adelaide properties sits at 4%, which is better than other capital cities (Sydney at 2% and Melbourne at 3%).
The Best Suburbs to Invest in Adelaide
Adelaide’s stable real estate market spoils you with great investment opportunities, whether you’re looking at the most expensive suburbs in Adelaide or somewhere more budget-friendly. Here are some suburbs with potential for high returns that you should keep an eye out for:
Belair
Belair properties don’t come up on the market too often, making it a landlord’s playground where prices can be increased when demand goes up. And with prices rising by 7% in the last quarter, it shows that many people continue to set their sights in the area.
Broadview
Broadview is a highly sought-after address. It’s just ten minutes outside of Adelaide’s central business district (CBD) by car, and it’s home to several quality schools, making it a great place for families. Many people have been buying land and older properties in the area to turn into beautiful homes, and that demand is not going down any time soon.
Eden Hills
Just fifteen kilometres south of Adelaide CBD, Eden Hills has amazing city views balanced by a countryside vibe. It offers mid-range properties ranging from $650,000 to $725,000, making it attractive for small families and buyers on a budget.
Largs Bay
Largs Bay is another suburb that’s close enough to the city to be accessible, but far enough to foster a peaceful family-friendly atmosphere. It’s also home to nearby recreational, commercial, and retail outlets.
Prices in the area are some of the most affordable in Adelaide (median prices are at $300,000 to $650,000), and demand for the area is high as Largs Bay is set to be the site of defence and state initiatives–which are projected to create more jobs and boost the local economy.
Salisbury
Salisbury’s property market has seen a boom in recent years because of several construction projects that have strengthened the local economy and are expected to promise high investment returns. It’s an ideal area for entry-level buyers as properties land at prices between $300,000 to $450,000.
Investing in Adelaide Property
Before you drop hundreds of thousands of dollars on an Adelaide property, make sure that you’re prepared. Do your research, calculate your costs, and ready your deposit. Remember to buy with your head to ensure that you’re making the right decisions.
Get started on your Adelaide property investment search on Soho–look at available properties in different suburbs and shortlist your favourites to keep track of them. For an even better experience, download the app to get the best matches for you!
