While the broader media continues to focus on the house price falls in a number of Australia’s capital cities [mostly Melbourne and Sydney and to a lesser extent Perth and Darwin] industry analysts and those in the know have been turning their attention to the Adelaide property market.
Here’s what Terry Ryder from HotSpotting.com.au recently had to say about Adelaide in his article “Adelaide flies under the radar as one of our strongest capital city property markets”…
Investors will be piling into the Adelaide market – just as soon as they read somewhere that there’s a boom in the South Australia capital.
But not before. The only constant in the residential property market is that the herd mentality drives the actions of buyers and sellers.
Adelaide right now is a strong value-for-money proposition, with one of the steadiest and most consistent markets in capital city Australia, underpinned by an economy that the experts have recognised as one of the nation’s best.
But investors generally refuse to consider it. Adelaide flies under the radar screen, with many people clinging to the outdated notion that Adelaide and SA is a low-growth sort of place.
But the experts know better. Here’s a snapshot of what some have said recently:
“South Australia’s economy was the standout of all states and territories in the last three months of 2018, with strong house prices and positive employment momentum boding well for the future.” – ANZ Stateometer report
“Residential property capital values in South Australia had their fastest rise for six years in the last financial year.” – SA Property Landscape report from Land Services SA
“Business confidence in SA is now at levels not seen in more than 10 years.” – Business SA-William Buck Survey of Business Expectations
“South Australia remains home to the most confident property sector in the country, buoyed by tax cuts and positive economic announcements. It is the fourth consecutive quarter that confidence in the state’s property industry has topped the country.” – ANZ / Property Council Survey’s Statewide Index
“All the economic indicators are suggesting that Adelaide is going to experience a very buoyant 2019.” – Broadway Property director Ben Heritage
“Adelaide Median House Value Soars To Record High, Defying Downturn In Other Capital Cities.” – The Advertiser
“The two key measures of the SA economy – how much production in the state and how much spending in the state – are both accelerating.” – Chris Richardson, Deloitte Access Economics
Against that background of economic and property performance, Adelaide is one of Australia’s most consistent markets, a status it has maintained over the past 12 months. It remains the busiest market in capital city Australia and one that is forecast by several analysts to be a national leader on price growth in 2019 and beyond.
Adelaide continues to record high numbers of suburbs with growing sales demand, well above the levels seen in most of the capital cities. This has produced multiple years of steady price growth, without generating a price boom – yet.
While sources such as CoreLogic and SQM Research report annual growth of only a few percent in Adelaide house prices overall, these generalised figures disguise individual areas which have done better.
It’s noteworthy that many of the millionaire suburbs have recorded big growth in their median prices in past 12 months. Uplift in the premium market is often an early signal of a market upcycle.
The growth is not all confined to the top end: there are suburbs with growth above 10% spread across all price ranges. This reinforces the reality that out-performing areas can be found even when the overall market appears to be moderate.
Adelaide has a broad geographical spread of LGAs with good numbers of growth markets. There are seven municipalities which have five or more suburbs with rising sales trajectories leading to price growth. This means there is growth momentum across the metropolitan area.
The leading precinct, with 12 growth suburbs (which makes it a nation-leading market), is Port Adelaide Enfield – which is likely to attract growing interest as the massive project to build Navy vessels unfolds.
The Marion LGA, a middle-market area in the south-west of Adelaide, has been a market leader for the past 12-18 months and continues to be.
A new challenger in Adelaide is the West Torrens LGA, which is situated between the CBD and the beaches – and offers wonderful value for money, relative to its location. Most suburbs have median house prices in the $500000s.
Another contender is the Tea Tree Gully LGA, which offers a good location relative to major jobs nodes and the Adelaide CBD, good local infrastructure and a high level of housing affordability.
Please find below a turn-key investment opportunity we’ve hand-picked in one of Adelaide’s growth areas;
FEATURED PROPERTY – LOT 17 ALEXANDER LANE, MARDEN
Opportunity to purchase in one of Adelaide’s growth suburbs. These 100% turnkey terrace homes feature 3 bedrooms, 3 bathrooms and a single garage.
Stage 1 has sold out and only 1 property remains [Lot 17] in Stage 2.
- Torrens Titled [No body corporate fees]
- 3 storey executive style terrace with 3 bedrooms and 3 bathrooms
- 2.7m ceilings to all levels
- Upgrade Pack – Miele 60cm appliances [$2,408], Stone benchtops to kitchen [$2,850] LED downlights throughout [$1,730], R/C ducted air-conditioning [$6,040]
- Fixed price of $565,000
- Median house price in Marden is $700,000
River Street in Marden is located on the city side of Lower Portrush Road and is surrounded by some of Adelaide’s finest Schools and College’s nearby including St Peters College, Prince Alfred College, Wilderness School and University of SA.
Marden Shopping centre is a short 2 minute drive, while the lifestyle strips of Norwood, North Adelaide and East End Adelaide are just 10 minutes away.
This suburb benefits from it’s central location and the ripple effect it receives from the neighbouring “million dollar” suburbs of St Peters, Royston Park, Vale Park and Walkerville.
(House price growth in Marden over the past 10 years)
Here’s a quick run-down on the deal:
Type: 3 Level Terrace Home – House & Land [Dual Contract]
Land Size: 78 m2
Build Size: 133 m2
Rent: $550 pw
CASH FLOW: +$184 pw
TOTAL PRICE: $565,000
This opportunity is time sensitive so please contact me for more details.
TAKING THE NEXT STEP…
We’ll provide you with all of the details you need to make an informed investment decision. This includes a detailed Property Investment Analysis [PIA] report, property brochure, site plan, inclusions list, a rental and sales appraisal from local real estate agents, area research reports and any other relevant supporting information.
To secure this property you just need to complete a simple Expression of Interest [EOI] form and pay a small refundable holding deposit of $2K. Your offer is subject to finance and is not binding should you not be able to get finance approval.
Looking for something different?
We currently have access to a range of 100% turn-key investment grade property in the following suburbs;
Bowden, St Clair, Hectorville, Kent Town, Norwood, Seaford Meadows, Brooklyn Park, Forestville, Camden Park, Hackham, Woodville South, Mt Barker, Marden, Seaton, Croydon Park, Taperoo, Glengowrie, Paradise, Tranmere, Mansfield Park, Warradale, Christies Beach, Kurralta Park, Clapham, Fulham Gardens, Brighton, Findon, Salisbury, Magil.
There are prices to suit everyone’s budget – ranging from $375,200 to $739,200
Don’t see your preferred suburb here? Let me know what you want and I can source it for you.
IN THE NEWS
A snapshot of some recent news regarding the Adelaide property market;
Adelaide median house value soars to record high, defying downturn in other capital cities
Westpac economist Bill Evans has the property market decline wrong
Hobart, Adelaide resist downward property price trend: REIA
Adelaide flies under the radar as one of our strongest capital city property markets
SA Excerpt from the 2019 March Market report
>> For more info simply hit reply, call 0411 431 391, or email your enquiry to email@example.com