Adelaide is crowned as the 3rd most liveable city, fast becoming known as the Silicon Valley of Australia and a world leader in alternative energy development. It is no wonder that Adelaide has become a haven for property investment.
The most recent CoreLogic data records Adelaide dwelling values rose by 26 per cent in the past 12 months, outshining the major capital cities like Melbourne (9.8%) and Sydney (17.7%).
Historically, Adelaide has always been a strong performer in the housing market. A report from the University of Adelaide revealed that, of the past two downturns in the economy, Adelaide saw a mere price dip of 0.2 per cent in 2012 and then saw a surprising rise of 0.4 per cent in 2019; becoming the ONLY state capital where prices didn’t fall!
Part of Adelaide’s attractiveness lies in its low housing prices, with a median house value of $658,000; Adelaide values are $745,000 lower than relative to Sydney and $340,000 lower than Melbourne.
Nathan Casserly, Managing Director of Ouwens Casserly, is now dealing regularly with large numbers of interested investors. “With its strong property market and good affordability compared to other capital cities, Adelaide exhibits good potential for investors who want to buy and hold,” he said.
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There are several reasons why Adelaide stands out:
- Australia’s most liveable city
- Major infrastructure
- Consistent & reliable growth in house prices
- A wide array of well-priced properties
- Strong property market
- Defence employment projects
- Upcoming Federal Government projects
- And many more
According to Pointdata’s latest breakdown, 94 per cent of Adelaide houses are on track for annual price growth in excess of five per cent by mid of the year. Furthermore, the lifting of global border restrictions resulting in a new surge of migrants may have a positive impact on Adelaide’s housing market.
Adelaide’s private rental market is also booming; real estate consultant, Andrew Geppa says, “Adelaide is an affordable city for interstate investors and offers a growing lifestyle for future renters with infrastructure upgrades, public transport improvements, fantastic attractions including the Adelaide festival plaza, Adelaide oval, casino and convention centre and the renewed riverbank precinct. The supply and demand in the market is continuing to drive rental prices up.”
Rising competition among the renters brings great news for the interested property investors, as it showcases Adelaide’s potential for a more secure investment with better returns. At Ouwens Casserly, every day hundreds of people register interest in rental properties.
“We’ve started putting all our auctions online via Gavl, where we see a lot of interstate buyers participating and buying properties,” James Roberston, sales expert at Ouwens Casserly.
Adelaide has become a welcoming hot spot for modern investors, as it offers a wide array of high-value properties spread across different suburbs, Salisbury, Mitcham, Port Adelaide, Onkaparinga, and Gawler, making it an ideal spot to invest in.
Interested in property investment? Contact our OC real estate experts to better understand the current market today & find out the benefits of managing your investment property through Ouwens Casserly.
