Regional property value is growing at twice the pace of capital city markets.
The sales activity in 62% of the Adelaide suburbs has been rising every quarter over the last three years.
According to Consumer & Business Affairs, “rental house hunters could expect to pay $20 – $30 per week more on the family home if they are new tenants to the property or $10 – $20 per week for renewal”.
The median value for the dwellings in Adelaide rose to $510K, making it the Australian second-cheapest, capital city property market after Darwin.
According to CoreLogic, the “national home value index was up by 0.9% in January that was the standout point in our real estate market”.
Adelaide is the nationwide most ‘underrated’ and consistent property market that continues to hold the title.
What’s driving buyers crazy
- Better housing affordability.
- Opportunity for a lifestyle upgrade.
- Lower density housing options.
These are the few contributing factors that are dragging the interest of buyers for buying better real estate for them.