Adelaide, SA (27 September 2021) According to a leading local real estate expert, Adelaide’s record piece growth, lower interest rates international border closures are encouraging demand for weekenders in regional and coastal South Australia.
Mr James Trimble, General Manager, Raine & Horne, said, “With record annual price growth of almost 20% in Adelaide, homeowners are taking advantage of this equity spike and low-interest rates to buy holiday weekenders in parts of regional South Australia,” said.
In Inner Adelaide, Raine & Horne Unley statistics indicate that tight volumes have pushed values in suburbs such as Unley, Unley Park, Malvern, Hyde Park, and Parkside up by more than 20% over the last 12 months.
Mr Trimble continued, “Given the median house price in Unley, for example, is now closer to $1.2 million, this extra equity is enabling Adelaide buyers to consider a second home or weekenders given regional South Australia’s median house price is under $275,000[i].
“Owning a weekender in regional South Australia is no longer the preserve of the wealthy elites, but now mum and dad buyers armed with some home equity can also enjoy the benefits of a holiday retreat within 90 minutes of Adelaide.”
International border closures are also contributing to demand for regional weekenders, Mr Trimble noted.
“Given South Australians are unable to travel overseas, and the prospect of holidaying in London, Bali or New York remains unclear, Adelaide homeowners are taking their holiday plans into their own hands by securing a beach house or a regional retreat.
“Of course, some homeowners are using the extra home equity to buy investment properties. However, those people further along the property ladder are using the unprecedented spike in Adelaide property values to consider a weekender either at Strathalbyn, Port Lincoln, Wellington and Clayton Bay on the River Murray or the coast at Goolwa.”
To illustrate, Raine & Horne Unley recently listed a stunning four-bedroom house at 24 Yates Avenue, Goolwa, with a price expectation between $690,000 - $750,000[ii].
Situated on a sizeable allotment of 700sqm, the potential weekender can perfectly cater for extended families. The magnificent home has multiple living rooms, four ensuites, a modern kitchen, spacious bedrooms with built-in wardrobes, two carports for four cars and a boat, a sizeable reeded timber back deck/alfresco, and much more.
“The stunning Hamptons-style home is in an enviable location as it is located 83 kilometres to the south of Adelaide in the heart of the Fleurieu peninsula. Moreover, Goolwa is a bustling seafront and riverfront town with great local shops, cafes, and restaurants on the waterfront,” said Mr Trimble.
“If you’re looking for the perfect weekender from Friday night to Sunday this property fits the bill perfectly. Better still given the rollout of the NBN, you could work from this property on Monday morning and drive back a little later and miss the Adelaide traffic.”
For further media information contact:
James Trimble, General Manager, Raine & Horne on 0438 596 728
Olivia Rowe, Content & Communications Executive, Raine & Horne Group on 0432 113 569