ACT Reports Progress Of ‘Better Suburbs’
The ACT government has delivered an update on its “Better Suburbs” plan, detailing the headway that has been made to...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $700,000.
The upward trend in home prices in ADELAIDE, 5000 averaged 4.39% per annum over a 3-year period.
Average weekly rents on listings have reached the $465 mark, reflecting a 3.45% increase in returns based on the current median price in ADELAIDE.
An average of 8.58 real estate transactions take place per month in ADELAIDE which translates to 103 per annum.
103 properties were sold in ADELAIDE in 2016, making it the 504th most active market in SA based on total real estate transactions.
ADELAIDE, 5000 places 163rd in Australia based on median property value growth during the quarter.
Dotting Adelaide’s skyline are the spires of its grand Gothic cathedrals and high-rise buildings that are home to the country’s fastest-growing companies. Adelaide is one of the largest population centres in Australia, registering an estimated 1.3 million residents in 2016, bringing its total number to 1.7 million.
Dubbed as Australia’s food and wine capital, Adelaide boasts of chic restaurants and bars and a stunning countryside where residents and tourists can fill their bowls with the freshest picks. Its locals are a trendy set, with a predilection for the finer things; theirs is a well-curated life – gladly swapping the mundane with artisanal delights.
The city runs a gamut of lifestyle boutiques, artsy hangouts, and cafes that are easy on the eyes and sometimes adorned with street art from up-and-coming artists. When all else fails, residents can seek refuge in its myriad vineyards at Adelaide Hills, soak up the sights at the Botanic Gardens, or bask at sea at neighbouring Glenelg.
Adelaide real estate
In Adelaide, timing is everything. Residents enjoy generous tax cuts from the government before July of every year, which they can allot for prepaying their home insurance and giving their homes a facelift. “Character home” is the operative word, and locals are not one to scrimp on their renovations; some would have no doubts of forking out millions to give their old homes a new interior. Sellers have the upper hand in Adelaide and are guaranteed returns on their investments.
Adelaide’s commercial real estate is headed for a positive direction, adding a more diversified group of tenants from a variety of segments. This, in part, makes it a top destination for property investors from other states, as well as hedge funds. Real estate authorities describe Adelaide as having one of the most liquid central business district office markets in the country. Investors can also rest assured that risk is minimal in Adelaide’s commercial real estate, and that its volatility of returns is lower than its peers.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-1.13%||-6%|
|Median 3 years||13.18%||5.33%|
|Median 5 years||19.66%||16.02%|
|10 years average annual||3.43%||1.71%|
|Weekly media advert. rent||$465||$435|
|Time on Market||68.9 days||107.8 days|
|Gross Rental Yield Percent||3.45%||5.07%|