Adelaide is the nation’s most consistent market, even topping the steadiness of Canberra – and continues to be our most under-rated market.
It is consistent with its sales activity and it delivers steady price growth. It recorded growth in its house prices in 11 of the 12 months of 2020 and overall had a 6% increase in the city’s median price.
The results of our latest quarterly survey of sales volumes in Adelaide are almost identical to those of the past three years. We have identified 62 suburbs with rising sales activity, similar to most of the past 10 surveys.
And, once again, the data shows that this consistent performance is occurring right across the Adelaide metropolitan area. There are 10 municipalities with at least three suburbs with rising sales momentum.
Affordable locations are the market leaders, boosted by the strong activity of first-home buyers.
Our analysis of the price data for individual suburbs shows that two-thirds of Adelaide locations recorded growth in the past 12 months.
And a highest percentage, 70%, had house price growth in the most recent quarter.
Suburbs recording above average growth in the past year are scattered across the Adelaide metropolitan area, covering a range of price points.
At the upper end of the market, Toorak Gardens has risen 15% to $1,500,000, while in the Norwood Payneham LGA St Peters has increased 13% to $1,365,000 and Norwood is up 27% to $1,020,000.
At the bottom end of the market, suburbs of the City of Playford have performed well, with Munno Para rising 16% to $260,000, while Andrews Farm increased 8% to $280,000 and Elizabeth Downs improved 11% to $195,000.
So there is enduring strength in the Adelaide market, right across the board.
How best to take advantage of this affordable growth market?
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