Sep 19, 2020
Adelaide has been one of the strongest capital city markets throughout the pandemic period. While average house values have edged downwards in Sydney and Melbourne, Adelaide has had a series of growth months since February 2020. In the six months covering March to August, Adelaide had four months in which house prices grew and one in which there was no change. Only one of the pandemic months produced a slight decrease in Adelaide house prices. And only Canberra among the capital cities has done better than that. Partly this is because Adelaide has contained the virus better than most cities. And partly because the South Australian capital entered the virus period with more suburbs with rising momentum than other cities – and that fact alone says something powerful about the nation’s most under-rated capital city market. There are four major trends in Australian real estate – the activity of first-home buyers, the Exodus to Affordable Lifestyle, the relative strength of the cities that have overcome the virus threat, and the very low vacancies in many locations – and Adelaide currently has all four of those factors in play. Adelaide has long been a standout market in capital city Australia for its consistency. The steadiness of its sales performance is remarkable and most of its suburbs have had price growth in the past year, led by double-digit rises in some suburbs. In each of our quarterly surveys of sales activity and prices, Adelaide adds to its reputation. Both the Autumn 2020 and Winter 2020 surveys identified rising sales activity levels that ranked the city among the best in the nation. And, unlike other cities, it had no suburbs classified as declining or danger markets. We’ve just published our new 2020-21 edition of the Top 5 Adelaide Hotspots report. It’s a good report to read in the current climate because Adelaide is well-placed to do well at a time when the biggest cities are struggling. The combination of those four major national trends which are prevalent in Adelaide suggests that the SA capital will continue to deliver solid growth in the short-term, as well as the longer-term. So get yourself a copy of our Top 5 Adelaide Hotspots report – and, if you any questions about it, give me a call. https://www.hotspotting.com.au/product/top-5-adelaide/