Owners of real estate in Adelaide will be pleased with a recent report by the Australian Property Monitors showing across-the-board revival of the Australian capital city housing market.
The report sees 2013 as the strongest year for national house price growth since 2009, with the price increase at 9.8 percent.
“Driven by the lowest interest rates in 60 years, still reasonable overall economic performances and rising confidence – all capital city median house prices are now at, or closing in on, record levels” said Dr Andrew Wilson, senior economist for Australian Property Monitors.
A recovering Adelaide property market has seen a third consecutive increase in house prices.
House prices rose by 1.7 percent over the December quarter, rounding up a positive year for the market. Last year saw a price rise of 2.8 percent, pleasing for Adelaide property owners experiencing the recently stagnant market.
It is predicted that Adelaide will continue to show modest housing price growth throughout 2014. However, most of the growth is likely to occur earlier in the year.
For owners of property in Adelaide who are considering selling, this report indicates now might be the best time to take advantage of the market.