The Adelaide market continues to operate at unprecedented levels and right now is arguably the busiest and most competitive market in capital city Australia.
Adelaide is, undoubtedly, a nation-leading growth market, both in terms of sales activity and price performance.
Indeed, this is strongest Adelaide market I’ve observed at any time in the 21st Century.
Australians, finally, have woken up to the exceptional potential that Adelaide offers.
- Its economy has risen up the national rankings in the past few years – and in the January 2022 edition of the States of the States report published by CommSec, South Australia was ranked as the No.2 economy in the nation.
- Adelaide has been successful in making the transition from the old economy to the new, modern economy.
- Adelaide no longer manufactures motor vehicles. Today, it is very strong in education, in defence projects and, in particular, in the area of high-tech innovation.
- Adelaide has established itself as the “Silicon Valley” of Australia.
- It is the national leader on alternative energy, it’s the national headquarters for the Australian Space Agency and numerous international businesses have set up their Australian headquarters in Adelaide – including the so-called world’s richest human, Elon Musk.
Against this backdrop, the Adelaide property market has risen and risen – and is still rising.
Our latest quarterly survey of sales activity for The Price Predictor Index shows that Adelaide is maintaining market levels at record levels.
Prices have reacted to that, with virtually every Adelaide suburb recording growth in their median house prices in the past year.
Three months ago, seven out of ten Adelaide suburbs had double-digit annual increases in their median house prices – now nine out of ten have had this level of growth.
The level of suburbs with annual growth above 20% have also jumped: from 16% of suburbs three months ago to 46% in our new survey.
In other words, almost half of Adelaide suburbs have had 20% or more in their median house prices in the past 12 months.
The other compelling factor about Adelaide from the viewpoint of investors is the level of residential vacancies.
Adelaide has a vacancy rate of just 0.4% – the lowest among the Australian capital cities.
This means rents are rising – on average, they have increased by more than 20% in the past 12 months – and are still rising.
So Adelaide presents an attractive proposition for investors across Australia.
It remains one of the most affordable cities in the nation, its prices are growing faster than any other capital city, it has the lowest vacancy rate and its rental growth is leading the nation.
At long last, Australian investors are clamouring the buy in Australia’s most under-rated capital city.
Against this background, we have just published our new edition of Top 5 Adelaide Hotspots.
It reveals the markets within the Adelaide metropolitan area that I expect to excel for the rest of 2022 and into the future.
Prospects for ongoing growth in the SA capital are strong, driven by its affordability, value for money, low vacancies and good rental yields.
So make sure you get a copy of the Top 5 Adelaide Hotspots report and find about some of the best value real estate anywhere in Australia.
