Adelaide Property Investment – A Long Term Game

THE widely held assumption that property values double every decade may be true in other states, but new figures show in South Australia it takes closer to 20 years.

According to CoreLogic data, Grange houses have had the highest value growth over the past 10 years, increasing by 49.4%.

Their median currently sits at $732,554, up from $490,309 this time in 2008.

Brooklyn Park houses have grown by 48%, and Prospect, Holden Hill and Windsor Gardens homes have all grown by more than 45%.

Norwood, on Adelaide’s eastern fringe, recorded the state’s highest growth for units, up 35 per cent to a $517,731 median.

Another report, by realestate.com.au, reveals while views per listing for SA apartments were down 2.2% year on year over the past three months, the number for houses was up 4.6 per cent.

According to the data, Crafers is the fourth most in-demand suburb in the country, and the only SA suburb to make the national top 10.

Unley was the most searched-for suburb, ahead of Goodwood, Stirling, Crafers and Kingswood.

Upper Sturt, Unley Park, Glenside, Hawthorn and Parkside rounded out the top 10.

Realestate.com.au chief economist Nerida Conisbee said Adelaide’s market continued to be a slow and steady performer.

“Demand is now up 2.7 per cent overall in Adelaide, and prices are up 3 per cent,” Ms Conisbee said.

“While Melbourne and Sydney are looking pretty weak right now, Adelaide is holding its own.”

Credit: news.com.au

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