Positive prospects to wealth build your portfolio on real estate property in Adelaide
According to the latest CoreLogic figures, Adelaide homeowners have reason to celebrate as latest figures show housing in South Australia have experienced the greatest value growth in Australia. CoreLogic, collects data from more than 600 different sources. These include major real estate franchises, website portals, developers, government sources and even tap into key print advertising of more than a hundred newspapers.
According to the latest figures Adelaide home values increased by 2.5 over the past month — more than double the growth experienced in Sydney (1.2 per cent) and Melbourne (1.1 per cent).
The value of homes in Adelaide has grown 5.7 per cent this calendar year and have shown an increase of 3.6 per cent for the same period last year. The more recent growth in property has been attributed to the fact that there is not a lot of property available for sale, with the median house price being around $430,000 and the median price for a home unit being $375,000.
Reports indicate that buyers have still been active wanting to buy, but there just hasn’t been enough properties to go around and that has pushed the prices up.
Director of Ouwens Casserly Real Estate in Adelaide indicated that low stock levels and a wet winter had helped drive up house prices and the long winter had delayed people putting their homes on the market. Mr Casserly said Melbourne and Sydney investors are increasingly targeting Adelaide real estate due to the relative unaffordability in their markets.
It is expected that the recent value growth was a sign of things to come and further positive activity is expected over the Christmas and January period, which has not been seen previously.
Recent reports indicate that Adelaide property growth is yielding 4 per cent-plus ,which makes the city very attractive to buyers as a good capital growth position enhances the opportunity to further wealth build property portfolios.
Reports indicate that Adelaide’s auction clearance rate is currently 67.9 per cent from 135 auctions over the past week.