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New CoreLogic figures1 show Adelaide’s property market has just experienced a small price drop of 0.3% but homeowners have pocketed gains of 10.3% over the past five years. Adelaide remains one of the nation’s most affordable cities, with a median home value of $427,009.
In a city as diverse as Adelaide, it stand to reason that city-wide results don’t always reflect what’s happening in individual neighbourhoods.
In fact, the latest figures from the Real Estate Institute of South Australia (REISA) show that a number of Adelaide suburbs notched up tremendous gains over the past 12 months.
Among the top performers were:
- Aldgate – up 19.25%
- Banksia Park – 8.85%
- Brighton – 24.19%
- Mawson Lakes – 10.42%
- Morphett Vale – 5.81%
- Prospect – 5.85%.
Further from the city centre, a variety of outer suburbs have also performed well. As a guide, Belair (up 12.39%), Fairview Park (8.67%) and Gawler East (15.41%) have all recorded strong gains over the last year.
The latest research by CoreLogic shows that a number of factors are in place to support an uptick in the property market.
Lower home loan rates, improved access to credit, a boost in housing market confidence post the federal election and recent tax cuts all point to the prospect of a hotly contested spring market.
As we head into what could be a bumper spring selling season, now’s the time to achieve your property goals for South Australia.
1 CoreLogic Hedonic Home Value Index, July 2019 Results
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Mortgage Choice was founded by the Higgins brothers over 25 years ago. They believed in giving Australians access to a choice of home loans, backed by expert advice to help them make the right choice. They were pioneers in mortgage broking and we've since helped over 600,000 people with their home loans.
Over the years, our passion for offering choice and advice has been extended to other areas of personal and business finance, including our industry leading financial planning service.
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