Dec 19, 2019
Adelaide is one of the standout markets in capital city Australia. Its consistency of sales performance is remarkable and almost two-thirds of its suburbs have had price growth in the past year, led by double-digit rises in some markets
Adelaide is undoubtedly Australia’s most under-rated market. We have often lauded Canberra as the most consistent of the capital cities but Adelaide is a serious challenger. It keeps delivering good sales activity and above-average results on house prices in specific markets.
In the five years Hotspotting has been conducting quarterly surveys of sales activity and price trends, Adelaide has never delivered a poor result. Most cities have had peaks and troughs in that time, but Adelaide just keeps on producing steady markets with consistent demand.
Around 62% of Adelaide suburbs have experienced growth in their median house prices in the past 12 months – and most of those growth markets have risen more than 5%. The list of suburbs with growth above 10% is dominated by middle-market suburbs, rather than top-end locations which has been the growth leaders in the recent past.
Some of the cheaper areas have also done well,which means that there are high-growth pockets spread throughout various market sectors.
Looking forward, we expect the Adelaide market to respond to upcoming major events in the local economy, including the $90 billion program to build vessels for the Australian Navy and the city’s growing reputation for high-tech innovation, which is attracting large numbers of national and international businesses.
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