Thursday, January 19, 2017

Riding Adelaide’s real estate market…


It's a busy time in Adelaide right now as this week marks the start of Australia's premier cycling event, The Santos Tour Down Under. 

The Santos Tour Down Under is the largest and most prestigious cycling event in the southern hemisphere. Bringing tens of thousands of visitors to South Australia each year, it strengthens the State's international profile through media coverage and makes a major contribution to the local economy. Last year, the event attracted more than 795,000 spectators, with more than 39,000 visiting the state specifically to attend the event.

But what has this got to do with real estate? It means that for one week our state is on show 
to the world! The Tour passes through more than 55 of our State's metropolitan suburbs and rural towns including Norwood, Unley, Lyndoch, Norton Summit, Stirling, Aldinga and Victor Harbor. 

Watching The Tour from various locations around South Australia or riding the streets themselves, interstate and international investors are able to see first-hand the type of lifestyle that is on offer in Adelaide, which quickly translates into the value of our local property market. 

As real estate agents, we often hear conversations start off as hypothetical 'what ifs' and then turn into a serious search for property in Adelaide. Events such as The Tour Down Under and our upcoming Mad March season see an influx of guests from our eastern states, and the natural conversations during these events lead to comparing what you can buy here for the same money in Melbourne or Sydney. 

The value for dollar, metre for metre and location for location we experience in Adelaide 
is incomparable to other cities. This coupled with the event buzz, street parties and a New Year, it can often be the catalyst for many to take action to start, or add, to their investment portfolio. 

Adelaide's stable property returns and consistent growth makes our city an attractive market for those investors that may be daunted by high risk. Adelaide has a strong track record of steady growth and property experts are reporting our city as one of the best buys right now. 

In 2016, the average Adelaide home sold for $18,000 more than the previous year, and this growth is expected to strengthen in 2017. With our State's huge investment into the Royal Adelaide Hospital, transport systems and fantastic international events such as The Tour Down Under there has never been a better time to start building your property investment portfolio or to put your home on the market. 

If you would like to know more about the next property hot spots, what areas are currently in demand with local, national and international investors and what this could mean for you and your property, Team Toop would love to help!

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