If it’s September, it must be the traditional real estate season. The Adelaide market showed many signs of positive activity in September as the warmer weather encouraged buyers and tenants out in greater force.
To illustrate, our offices in the picturesque Adelaide Hills region have virtually no rental stock left, while moderate capital growth is the order of the day. These towns include Aldgate, Stirling, Oakbank, Birdwood, Mount Barker and Hahndorf that are all within an hour’s drive of the Adelaide CBD.
The strength of the local rental market is attributable to many new arrivals choosing to lease a property before they buy, according to James Trimble, General Manager, Raine & Horne. “Therefore, the region’s low vacancy rates are a reliable indicator for the future sales market.”
The Hills is popular with car and bus commuters, as its real estate affordability. For example, in Mount Barker, a 4-bedroom bungalow for $200,000. If you spend $400,000, you’ll get a new house on a 900 square metre block.
If you travel a little further in towards Adelaide, our Oakbank office is auctioning a two-bedroom cottage at 73 Size Road, Oakbank, described as a renovator’s delight. Perched on 8.87 acres of spectacular rural living, this property has a price guide of $550,000 - $570,000 and will go under the hammer on 27 September.
The quality of life available to residents of the Adelaide Hills, including some of South Australia’s best food, wine and scenery is formidable if you’re prepared to take a 40-minute commute for work into Adelaide, concluded James.