4/6 Australia’s Property Market All About The Rate Hikes ~ South Australia
We hope you’re enjoying our in-depth analysis of the property markets’ post-rate hikes.
Today, let’s dive into South Australia.
Adelaide’s property prices have decreased by 1.4% over the past quarter but remain 5.1% higher compared to a year ago, making it the top-performing capital city in terms of annual growth.
The rental market in Adelaide has also seen significant growth, with a rental increase of 12.6% over the past 12 months, second only to Brisbane’s 13.1% increase. This strong performance is driven by supply and demand dynamics, as property listings have decreased by 12% compared to the previous year, the largest decline among all capital cities and regional areas in South Australia.
The high demand for rental properties in Adelaide can be attributed to several factors. The successful handling of the COVID-19 pandemic in South Australia, with fewer lockdown days, has attracted individuals from larger cities. Additionally, the reopening of international borders has led to an influx of overseas migrants and international students, as Adelaide offers advantages for permanent residency and affordability compared to other major cities.
Feel free to reach out to us at 1300 372 677 or email@example.com if you have any further questions.
Next update on Western Australia.
😀If you want more information on how to succeed at property investing, order your copy of Daimien’s book Wealth Through Property?
The smart investor’s guide to fast-tracking your financial freedom through property investment. CLICK HERE