Adelaide to become growth hotspot
The sluggish Adelaide market may turn out to be a "growth leader" over the next six months, a national property analyst has predicted.
Terry Ryder from Hotspotting.com.au said the Adelaide market had not yet begun to move.
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“I think Adelaide is just beginning its run,” he said.
In his view, slow price growth coupled with rising sales volumes indicate the market is set for a turnaround.
“It hasn't shown anything in terms of price growth, only a few per cent really," he said.
“But if you look at sales volumes right throughout the Adelaide metropolitan area, there's a definite upturn in momentum there.
“I think by the end of this year, we'll be saying Adelaide is one of the growth leaders.”
Mr Ryder believes that while some cities have seen high growth, the rest of the nation’s markets are just starting to revive.
“I actually think that, in terms of a national property boom, we haven't had one yet. We've had a Sydney property boom,” he said.
Alongside Adelaide, he predicted both Brisbane and Hobart would pick up over the next year.
Darwin appeared to be gaining momentum while Melbourne and Perth still had room to grow, Mr Ryder said.
