As proud South Australians, it's not hard for us to see why we are making global headlines as the place to live. We love Adelaide. Not only for its character and beautiful old buildings, but also for the easy living, incredible surrounds and lifestyle on offer.
Being in real estate, we naturally ask ourselves, "Will Adelaide's growing popularity have an effect on the property market?". If the current trends continue, this could certainly have an impact in the years ahead. When it comes to property, Adelaide is a steady performer and being a popular place to live is only going to aid in the long-term growth of property prices.
It is likely that the popularity of our city will create higher demand in our most sought after suburbs. This year we've already seen an increasing number of interstate investors enter the Adelaide market, which is creating additional competition in some areas. This all influences the upward trend in house and unit pricing.
If Adelaide continues to make its mark globally, with quality lifestyle and affordability being our biggest draw cards, we could become a serious contender as the place to live when up against bigger cities on the eastern seaboard. So for investors, we could expect to see an increase in relocation activity, creating a spike in rental demand for family homes and executive rental properties. Of course though, this is also dependent on local employment growth and job opportunities in our state.
It's exciting to see our city's popularity growing and that we are making a mark on a global scale! This creates opportunity and is extremely positive news for our state and the property market.
The secret is out - Adelaide is a fantastic place to be - and there's nothing we love more than helping people find their dream home in this amazing city. So give our team a call to take advantage of the current market conditions, and find out how we can help you find your place in this beautiful part of the world.