I’ve been banging the drum about Adelaide for the past few years but it’s often felt like no one was listening.
But right now that’s changing.
More and more people are realising that Adelaide has a lot to offer.
And I think that one of the headline stories of real estate in 2022 will be the competition between Brisbane and Adelaide for the fastest growth in house prices.
The two cities ended 2021 and started the New Year with the highest rate of price growth in house prices – and I think this will continue throughout 2022.
Adelaide, historically, has been stigmatised as a low-growth city. There’s been a perception that its population doesn’t grow much, that it’s economic is not very dynamic and there it’s property market under-performs.
But that’s all old news. Things are very different for Adelaide now.
The latest quarterly edition of Commsec’s State of the States report has ranked South Australia the No.2 growth economy in the nation.
There’s lots of dynamic things happening in the Adelaide economy, including its growing reputation as the Silicon Valley of Australia and it’s status as the No.1 centre for alternative energy development.
So now the city is growing at a rate faster than the historical norms – and its property market is responding positively.
Adelaide is an attractive city which offers lifestyle, attractive affordability compared to the bigger cities, extremely low vacancy rates and overall great prospects for price growth.
Adelaide prices grew 25% in 2021 and we can expect more big performance in 2022. Its market up-cycle is really just getting started.
So get yourself a copy of our new 2022 edition of Top 5 Adelaide Hotspots and find out which locations we rate the highest in the city we consider to offer the best value-for-money in capital city Australia.
