Adelaide's positive streak continues as its low property prices and the growth potential of this city bring in investors from interstate and beyond.
“Investors are currently flocking to Adelaide from all across Australia and the globe due to lower buy-in price points and higher rental yield opportunities. Combining this with the high-growth pockets within the metropolitan area, you really cannot go wrong if you make the right educated purchase,” explains Katherine Skinner, director of National Property Buyers SA.
The slow boost in property supply has contributed to heavy competition among buyers for quality dwellings.
“Supply hasn’t been rapidly increasing as we were all expecting; while we have seen a steady increase in stock, it is lower than normal for the spring season within many areas,” Skinner says.
“Due to high demand for quality stock, we are seeing many runaway results come auction day. This is down to competitive homebuyers, especially owner-occupiers, looking to get their foot in the door.”
CoreLogic’s Pain and Gain report for the most recent quarter indicates that homeowners have much to gain indeed in selling off Adelaide properties – 91.3% of resales were made at a profit in the three months to June 2019. In fact, the suburb of Mallala reported that 100% of resales resulted in earnings for the vendors; the suburbs of Burnside and Mitchum followed close behind with 96.6% and 96.5% of resales generating gains.
“We especially like parts of the North Eastern Corridor at the moment, and there are a few suburbs within this region where we believe you cannot go wrong. There are a handful of areas which offer some serious bang for your buck while ticking the boxes required to create great foundations for future investments,” Skinner says.
The rental market is quite rosy as well, with Adelaide the only capital city to report a month-on-month increase in rents as of September 2019, according to CoreLogic’s Quarterly Rental Review.
"Many renters are out and about looking for their next home,” Skinner says. “As an investor, there is no better time than right now to be doing a complete health check and adjusting rents to keep them in line with market conditions.”
OAKLANDS PARK: Growth in southern city suburb
As Adelaide’s stock rises in the eyes of many buyers, the suburb of Oaklands Park, located south of the capital, is benefi ting from the uptick.
“There are great schooling options, both public and private. It is also one of the last remaining up-and-coming suburbs within the City of Marion – its neighbours have already seen signifi cant growth and development, and Oaklands Park is following suit in its performance indications,” says Katherine Skinner, director of National Property Buyers SA.
“Many new homes are being built and old ex-housing trust demolished. Westfield Marion, SA’s largest shopping centre, is right on your doorstep.”
The Oaklands railway station is a convenient transport interchange as well.
Amenities: Oaklands Park is home to the Marion Shopping Centre, a major mall in Adelaide
Transport: The Oaklands Park railway station servesas a transport interchange
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