According to the Advertiser, Adelaide’s property price growth is predicted to be the strongest in the country over the next three years- rising by 12.4 per cent.
As per the latest BIS Economics Australian Housing Outlook, the positive forecasts of market affordability and low interest rates makes Adelaide the national hotspot. Also, the report states that a crucial dip in the jobless rate to 5.6% and a boost in defence and infrastructure spending will lead to a significant rise in house prices.
Median House prices are are set to rise to $555,000 by the year 2021 and unit prices are projected to rise by 6.3 per cent.
Adelaide has remained a strong and steady market, compared to the Eastern states. Sydney prices have fallen 7.6% this year and expected to fall another 3.5% by 2019. In Melbourne prices have fallen 1.6% this year and tipped to dip a further 4.2% next year.
So, with house prices expected to rise over the next few years- it is a great opportunity to invest in the Adelaide market now – and watch the growth over the upcoming years.
If you would like to know more on the Adelaide market, or would like information on our services – fill in your details below or contact Elinore Rositano, Director on 0402 148 373.