When seeking out property for investment, it's always an excellent idea to look for areas that have good levels of dwelling approval. This can indicate rising levels of supply in response to high demand, and can also provide more affordable options in which equity can be built.
With this in mind, anyone after real estate will be pleased to see a rise in dwellings being green-lit, especially among the townhouse and apartment market – ideal real estate for property management in Adelaide.
According to a 3 November release from the SA government, growth in building approvals for the state have risen 2.8 per cent in seasonally adjusted terms, as opposed to an 11 per cent decrease on a national scale.
SA Treasurer Tom Koutsantonis also noted that in the trend figures for the last 12 months, South Australian home approvals have risen 5.4 per cent compared to a one per cent nationwide rise. This includes a boost in consents for private 'other' dwellings, which are now a significant 17 per cent higher than this time last year.
"This is a positive sign and indicates increased investment in properties such as townhouses and apartments," Mr Koutsantonis added.
If you seek out apartments in Adelaide suburbs, there is a wide range of affordable property. For example, the My RP Data shows that in the last 12 months, unit real estate in Prospect sits at a median price of $320,000. This is below the median unit price index for Adelaide, and is an enticing opportunity for investors.
With Mr Koutsantonis also noting that there can be over $30,000 of grants available for first home buyers in Adelaide, there are many reasons to consider investment in Adelaide. To find out more and discuss property management options for any investment home, a local real estate agent is an excellent starting point.
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