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State of Markets – SA January 2012

State of Markets – SA January 2012

by Phillip Tarrant | January 02, 2012 | 1 minute read

Essential information, plus expert insight on what is shaping the national property market...

by Phillip Tarrant
January 02, 2012

SOUTH AUSTRALIA

Fast Figures

  • 4.46% – average rental yield for units, Adelaide
  • $223,250 – average house price, Mannum
  • $290 – weekly median advertised rent, Adelaide

Solid yields for opportunistic investors
Solid returns from rental yields can be found in the current market, according to the Real Estate Institute of South Australia (REISA).

Some areas have reported a yield of up to five per cent, the REISA’s quarterly market update data show.

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The main areas of opportunity for investors include outer metropolitan Adelaide and the key regional centres, which have reported yields of over 4.5 per cent, according to REISA president Greg Moulton.

“There is real opportunity out there right now, especially as property prices have softened a little, so now is the time to start thinking about investing,” said Mr Moulton.

REISA data also show that the average weekly rental amount for the metropolitan area has not moved significantly over the past year.

Adelaide lifestyle developments launched
A $200 million, high-quality residential development site was launched recently in line with the South Australian Government’s development plan.

The Gilberton development will contain more than 200 apartments in three buildings, of which 75 have been released in the Araluen building.

“Forty-five Park Gilberton is set to become a landmark residential community which will help shape future living options in Adelaide,” Watersun property director Garry Garside said.

The government’s ‘30-Year Plan for Greater Adelaide’ promises that $11.4 billion will be spent over four years, with upgrades to transport, hospitals and schools, to manage a fast growing population.

“[The Plan] will, in turn, support that investment through the location of new housing near those transport networks, as well as close to new and existing infrastructure,” the document said.

“For the next three decades, the Plan will guide where people live, how we manage population growth, and how we create jobs.”

State of Markets – SA January 2012
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