South Aussie Property in Hot Demand
Demand for South Aussie property from interstate investors is up 9% from this time last year and at an all-time high according to realestate.com.au.
In 2017, more than 4.6 million property seekers from Sydney and Melbourne eyed off Adelaide properties.
Cashed-up investors from the eastern seaboard are circling Adelaide’s residential property market, with the common reason being that they are unable to afford properties in their own cities.
South Australia’s property market is propelled forward not only because of affordability but because it also offers higher yields than properties on offer in the eastern states.
2017 saw 4.8% more homes sold compared to 2016. Furthermore, 17 metropolitan council areas reported positive price growth according to data collected by CoreLogic.
Greg Troughton is the CEO for the Real Estate Institute of South Australia (REISA). He believes that Adelaide has prime picking for buyers and predicts we will see continued growth this year.
“Being the most affordable mainland state means people from the east are looking for opportunity. We have been ‘slow and steady’ over the last decade and so the returns and opportunities compared to Melbourne and Sydney look salivating,” he said.
The chief economist for realestate.com.au, Nerida Conisbee said Adelaide’s main appeal is affordability.
“I do think that the number of searches will continue to rise,” she said. “A lot of investors are moving out of Sydney and are looking to spend their money elsewhere.”
Comments from Property Asset Planning
Property Asset Planning’s Managing Director and senior Property Strategist is Brian Chant. “I’d rather see a local South Aussie get their hands on SA property over an interstate buyer any day of the week,” he says.
“I’ve been in the property & building industry for over 25 years. I’ve seen the cycles, I’ve looked interstate and I still believe that SA has the most attractive investment property opportunities” Brian tells me.
Peter & Paulla’s thoughts on Property Asset Planning
Investors Peter & Paulla have just conducted handover on their second investment property; both purchased through Property Asset Planning.
“If it wasn’t for Brian and his team, we would never have built one investment property, let alone 2! The properties were both fixed price so there were no nasty surprises or additional, hidden costs. With Property Asset Planning taking care of our investment property, we could just focus on our day to day life knowing that our future was in good hands”.
Peter & Paulla standing in the kitchen of their second investment property at Seaford Heights in 2018
Originally Published by Lydia Kellner of The Advertiser 24-March-2018