Adelaide real estate is set for growth in 2020 according to the latest data from SQM. The research house believes property values in the South Australian capital will grow by up to 4% next year.
James Trimble, General Manager, Raine & Horne, mostly agrees with SQM’s assessment, adding he believes growth could be as much as 5% in 2020 for Adelaide real estate. James adds, “It would be difficult not see 2020 as being a positive year for Adelaide property markets.
“Unlike other capitals, in Adelaide, we are building new properties commensurate with the city’s population growth. If we did something to increase the population above residential development levels, then we would see more growth in inner ring suburbs.
“That said, unique and exceptional properties in Adelaide will beat this trend and earn vendors stronger returns.”
James continues, “Adelaide real estate is famous for its steady consistency. We don’t experience the highs and lows like the eastern state capitals.
“There is a confidence in the market and buyers are recognising now is an excellent time to secure a family home before Christmas.
Since October, our offices have recorded a successful run of properties settling. “Buyers are being driven by a desire to be set up by Christmas so they can enjoy a family moment around the table in their new home,” James explained. “There is a real hum in the market, yet many of our offices need more properties to sell. So, if you want to sell a home before Christmas, there is a great opportunity now to find a buyer.”
James said several factors have contributed to buyer confidence such as lower mortgage interest, political stability delivered by the May Federal Election and a relaxing of bank lending since the middle of 2019. “There’s also good news on the employment front such as the decision to locate Australia’s new space agency in Adelaide, which has the potential to create 20,000 jobs by 2030.
“Adelaide is a place to live, the place to be and a place to be employed, and this confidence will continue to drive consistent demand for real estate in this city.”