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Middle suburbs outperforming inner city in SA

By Staff Reporter
2

Middle and outer suburbs are outperforming inner-city suburbs in Adelaide, data from the Real Estate Institute of South Australia (REISA) has shown.

Suburbs such as Somerton Park, Henley Beach South and Plympton were leading with growth of 19.5, 19.2 and 17.3 per cent respectively in the past year.

On a broader scale, the quarterly statistics showed that metropolitan Adelaide recorded growth of 1.96 per cent compared to the same quarter last year.  

REISA vice president, Mr Ted Piteo, said that these areas have the right balance of distance to the city and excellent local amenities, which makes them attractive to buyers.

“These suburbs are often found in the top performers, and these suburbs often carry stock with generously sized blocks, which is also an attractive feature for buyers,” he said.

The volume of sales are similar to the December quarter and when data is finalised over the coming months, it is predicted that volumes will be a little stronger than the same time last year, with around 3,750 houses changing hands in metropolitan Adelaide, REISA said.

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