Adelaide’s real estate market has thumbed its nose at COVID-19 with average growth of 5% in 2020, a result James Trimble, General Manager Raine & Horne in South Australia is confident will be replicated in 2021.
“The robust market conditions will continue until early April as more South Australians decide to shun a summer holiday and wait for Easter,” he said.
“In the meantime, the combination of confidence and record low-interest rates will keep encouraging more South Australians to buy property at least until the April holidays.”
Mr Trimble expects the inner-ring suburbs, and the Adelaide Hills will be the hotspot regions in the South Australian capital. “With more people now able to work from home as a consequence of COVID, owning a family home in the Hills district is significantly more appealing to those seeking value and who now only need to commute 2-3 days to the city.
“Beachside suburbs such as Glenelg, Seacliff, Brighton, West Beach, Henley and Grange will also be popular for similar reasons, as homebuyers realise that with South Australia’s excellent internet connectivity, they can enjoy seaside living.”
The reopening of state borders will be another factor that drives Adelaide’s market in 2021, Mr Trimble predicts.
“Some people living in Sydney, Melbourne and Brisbane will recognise Adelaide’s real estate affordability and shift here to take advantage of our lifestyle and be mortgage-free.
“Likewise, we expect South Australians who have ridden the property wave well interstate to also return to their state of birth
A luxury 4-bedroom family home on a sizeable allotment at 30 George Street Unley in the inner ring suburb of Unley is a case in point.
“This property is one of Adelaide’s best suburbs will auction with a price guide of $1.1 million on 20 December and is attracting some interstate interest as it’s a great price point entry into that market,” Mr Trimble said.
“Cashed up interstate buyers could help deliver average capital growth of 4-5% for Adelaide in 2021.”