As one of Australia’s most affordable cities, it’s no surprise that more and more people are looking to invest in the area. After all, Adelaide’s property growth could easily be the poster child for the saying, “slow but steady wins the race”, and there’s nothing more attractive to smart investors than stability.
Why should I invest in Adelaide’s property market?
Overall, Adelaide’s property market has a lot to offer. Recent SQM research shows that house prices have been rising across the city with an average growth of 2.5% over the last three years, while units yielded a growth of 1.6% over the same period.
What’s impressive about this is that even during periods of uncertainty, such as the 2018 Banking Royal Commission, Adelaide’s property market remained more stable than that of its eastern counterparts like Melbourne and Sydney.
Essentially, in terms of rental prices and capital growth, Adelaide’s property market may not provide you with the immediate gains possible from investments along the east coast, but it will offer far less volatility and better strength against market shocks – which is incredibly important for long-term investments. Plus, it’s much more accessible to first-time buyers.
How expensive is it to buy property in Adelaide?
Aside from its stability, Adelaide is also great for those newly entering the market because of its reasonable house prices. According to the Domain House Price Report in December 2020, the median house price for Adelaide was $574,264 at the end of 2020, while Melbourne and Sydney’s median house prices came in at almost double that. Official interest rate cuts, lower mortgage rates and generous government stimulus all also contribute to the city’s affordability.
Where is the best place to live in Adelaide?
In terms of investment, there are several suburbs across Adelaide that can offer a fantastic combination of both market growth and exceptional liveability if you’re planning to reside in your home. Interested in knowing which suburbs are the best options for you? Read our article on what Adelaide’s top suburbs for investment are.
No matter what stage you’re at in terms of looking to invest in Adelaide’s property market, Instyle Property Management can help you make the right decision according to your circumstances and needs. Talk to one of our experienced team members today to get the ball rolling on your future.