Adelaide is the big improver among the city markets in 2021 and continues to be the nation’s most under-rated capital city.
I conduct quarterly surveys of sales activity across Australia and in the winter survey I found a record number of rising markets. But the Spring survey completed recently showed that Adelaide had topped that record by a big margin.
Two-thirds of suburbs across the Adelaide metropolitan area now have rising sales activity. The number of rising markets identified in our five most recent quarterly surveys have been 52 62 93 104 125.
That pattern shows the rise and rise of the Adelaide market and that is also reflected in the price data.
Adelaide’s median house price has increased 21% in the past 12 months – that’s higher than Melbourne, Perth and Darwin, and on a par with Brisbane.
The appeal of Adelaide includes its relative affordability. Its median house price of $575,000 compares with $960,000 in Melbourne, $1,310,000 in Sydney, $955,000 in Canberra and $710,000 in Brisbane.
It also has higher rental yields than all the other capital cities except Darwin, helped by ultra low vacancy rates well under 1%
All this is underpinned by an improving local economy, with South Australia rising up the rankings in the quarterly State of the States report published by CommSec.
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 2021 and well into 2022.
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.