Adelaide prices never really fell!

By Pavy MarQ2 years ago

By Rishabh Dhall

31st October, 2022

Property is still very affordable, despite the staggering price increases of the past three years, and rents are rising sharply.

Think again?

Adelaide’s median price is lower than prices in most of Australia’s capital cities.
Which easily reflect on the average income of the individual, which equally reflect better affordability.

As a result, the typical mortgage size in Adelaide is smaller. Smaller mortgages also mean that the average borrower in Adelaide is less affected by changes in interest rates,
There is reason why Adelaide hasn’t been that affected by the recent RBA rate hikes in contrary to large price declines seen in Sydney and Melbourne.

Moreover, if there is little decline in growth is on the higher segment of the market, but the lower end of the market hasn’t seen many changes, so the higher value properties are absorbing all the hit.