Consistent Adelaide Market Set To Deliver Price Growth in 2020
Adelaide is one of the standout markets in capital city Australia. Its consistency of sales performance is remarkable and almost two-thirds of its suburbs have had price growth in the past year, led by double-digit rises in some markets
Adelaide is undoubtedly Australia’s most under-rated market. We have often lauded Canberra as the most consistent of the capital cities but Adelaide is a serious challenger. It keeps delivering good sales activity and above-average results on house prices in specific markets.
In the five years Hotspotting has been conducting quarterly surveys of sales activity and price trends, Adelaide has never delivered a poor result. Most cities have had peaks and troughs in that time, but Adelaide just keeps on producing steady markets with consistent demand.
Around 62% of Adelaide suburbs have experienced growth in their median house prices in the past 12 months – and most of those growth markets have risen more than 5%. The list of suburbs with growth above 10% is dominated by middle-market suburbs, rather than top-end locations which has been the growth leaders in the recent past.
Some of the cheaper areas have also done well,which means that there are high-growth pockets spread throughout various market sectors.
Looking forward, we expect the Adelaide market to respond to upcoming major events in the local economy, including the $90 billion program to build vessels for the Australian Navy and the city’s growing reputation for high-tech innovation, which is attracting large numbers of national and international businesses.
Find out the best areas for growth in our latest Top 5 Adelaide Hotspots 2020 report.