by Danny Buxton
Having grown up in Adelaide, I still love visiting family, enjoying a bush walk in Bel Air National Park and enjoying the sensational red wines only SA offer. Every visit, I comment on how much easier Adelaide is to navigate than the Eastern capital cities. Then I become nostalgic about my old paper run and where I fell off my bike, but I digress! It certainly helps that I know the city, but it is not the reason why our clients are investing in the city of churches.
South Australia continues to be one of Australia’s most consistent property markets and has much to offer at a relatively affordable price point.
Terry Ryder from Hotspotting.com named this city one of 2023’s shining stars.
“Overall, Adelaide is a story of continuing high sales activity and on-going price growth, remaining generally one of the strongest markets in the country,” said Terry. “We still regard it as one of the most underrated capital cities in Australia”.
Perhaps the city of churches has been misjudged in the past.
It has a vibrant offering of diverse cultural and sports festivals throughout the year and a thriving food and bar culture. The city has a relaxed feel and offers the best of both worlds with beach, bush and rural landscapes within easy access. It is also home to some of Australia’s top educational institutions.
So, the lifestyle is a plus, but what does the city have to offer for investors?
- Strong Economic activity across a range of industries
- High tech innovation precincts close to CBD and North Adelaide continue to grow (For example, the Australian Space Agency, the Australian Institute of Machine Learning, Defence and Space Landing Pad).
- Positive interstate migration
- Rising levels of employment (as of mid 2023)
If you have heard positive news about investing in Adelaide, you may wonder if it is too late.
- There is a raft of infrastructure projects in the pipeline which will continue to
- Our anecdotal evidence is that building approvals are slower than in other states – perhaps this is one of the reasons contributing to the shortfall of available homes.
- Adelaide has one of the tightest rental markets in the country
Adelaide shows resilience compared to other capital cities without the highs and low of what happens in Sydney or Melbourne. While the eastern states experienced a softening of prices over the last 6 months, South Australia has held firm.
It is about the right location and a quality home.
One of our clients snapped up this new display home from our preferred builder in South Australia, HPG Homes. The four-bedroom property had loads of extras, close to a new private school and easy access to the highway north to the Barossa or South to the Adelaide CBD.
South Australia should be on your radar if you want to secure a property that will continue to grow over the long term with solid rental yields.
If you would like access to off-market options, my team and I would love to help you secure the right property for you.
Call 1300 897 000 to take the first step or email [email protected].
This content is general information only. Your situation is specific and individual; as such, you should always consult a registered and qualified professional within the particular area of advice needed.