The South Australian property market continues to go from strength to strength on the back of investor demand.

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Kevin Magee, CEO, Raine & Horne South Australia, explained, “There is very good economic confidence among investors about the local and interstate economies. As a result our offices are fielding plenty of interstate and international enquiries – particularly from Chinese investors.”

According to the Raine & Horne SA chief, the relative affordability and stability of Adelaide’s housing prices is the cornerstone of buyer demand. “The median house price in Adelaide is still around $380,000, which typically buys a three-bedroom, two-bathroom house within 30km of the city,” said Mr Magee. “Move to within 15km of the city and in many areas $380,000 will still buy a home with three bedrooms and one bathroom.”

Mr Magee added, “The Adelaide property market has recorded just 7 falls in quarterly price growth since March 2000. Each time it’s only been a small percentage fall and it’s quickly recovered the following quarter.”

Mr Magee nominates Hope Valley as a suburban property hot spot. “Hope Valley offers first time buyers and investors quality properties on large blocks within 15km of the CBD at a rate well below the median price. In addition the area is seeing a revival with many buyers subdividing or demolishing old properties to build their ‘dream homes.’ These are exactly the type of factors that drive future price growth and lead to good long term capital return. It’s not surprising to see this area has achieved average annual median price growth of 12% for the last nine years. To find out more about the property market in Adelaide’s north east, contact Raine & Horne North East on 08 8395 2233 .

Gawler is the gateway to the Barossa Valley and is attracting those buyers looking for a lifestyle change or a home with a country town feel. “There is a nice mix of housing – from heritage, to very modern properties and cafes in Gawler,” explained Mr Magee. “Gawler is somewhere where people can choose to live in a rural country town, but still work in the northern part of Adelaide at Technology Park or Edinburgh. For more on Gawler, contact Raine & Horne Gawler on 08 8522 2777.

It’s famous for tuna fishing, but Mr Magee says Port Lincoln is attracting home buyer attention. In fact, Raine & Horne Port Lincoln’s Steve Prout recently sold six brand new townhouses off the plan to interstate investors within a week. “And they were sold sight unseen,” said Mr Magee.
Port Lincoln is a day’s drive from Adelaide, but it’s an area that is moving ahead in leaps and bounds, and investors are well aware the town is a designated area for people returning from jobs in the Iron Triangle region.

“When workers with young families leave the mining towns, they tend to prefer coastal towns such as Port Lincoln, Whyalla or Kangaroo Island to a suburb in Adelaide,” explained Mr Magee. “The coastal towns provide the intoxicating mix of a country lifestyle and good schooling.”

This article is brought to you by Raine & Horne Glenelg, your Glenelg Property Management and Glenelg Real Estate Specialists.

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