Market Report – South Australia (June 2008)


While buyers have been averting their gaze towards the property hot spots in Queensland and Victoria, SA has managed to slide below the mainstream radar as evidence mounts toward it becoming one of the nation's star performers this year.

Even with the increase in interest rates earlier this year, Adelaide has plenty of upside potential, according to property advisory firm Braxton Chase.

"Then main surprise of the Adelaide market is that it hasn’t attracted a whole lot more investors in recent time,” says CEO Andrew Donnelly.

After a 2007 which saw Adelaide’s median house price increase by 20.87% to $367,000 and units improve 22.83% to a median $278,000, you could be mistaken for thinking the interest rate spike might put paid to an overheated market. Not so, says Donnelly.

"The market fundamentals are simply excellent and there’s still the resources boom in the wings, waiting to burst forth centre stage," he notes.

In stark contrast to the slowdown for Perth, Adelaide shows signs of being on the upswing by riding on the back of mining opportunities.

"Focussing solely on the resources sector – taking into consideration what it's done for other cities such as Perth and Darwin – should be enough for investor interest to rise above every steeple in the City of Churches," Donnelly says.

"Add the city's mainstay of manufacturing and the emergence of its vibrant tech sector to the equation and you have exactly what it takes to for a property investor fiesta."

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