While winter is traditionally not a strong period for home values, it seems Australians are bucking the trend and pushing property prices up in the colder months this year.
The RP Data CoreLogic Home Value Index showed a rise in house values of 4.2 per cent in the three months to August – this is the biggest increase since the winter of 2007. While Melbourne and Sydney's busy markets lead the way with increases of 11.7 an 16.2 per cent respectively, Adelaide still put in a strong rise. Their price increase over winter was 5.9 per cent.
Research analyst for RP Data Cameron Kusher says that since prices stopped falling in June 2012, property prices across all capital cities have jumped18.7 per cent. From 2008 to 2014, Adelaide's home prices have risen by 9.9 per cent.
This is due to extended periods of growth for most cities, which has come about thanks to the low mortgage rates currently on offer.
Mr Kusher thinks the continued low mortgage rates and safe investment returns mean there will be ongoing interest in property investment, which is great news for anyone hoping to buy real estate in Adelaide. From the central areas of North Adelaide to quiet suburbs like Burnside, there is a wide range of affordable real estate that could experience further price growth – a prime target for investors.
Mr Kusher believes only higher interest rates or government intervention in how much can be loaned to people will stem the house price growth. If you'd like to get amongst the wide variety of property on offer here in Adelaide, you're welcome to speak to a Ray White agent about hot growth areas and how to make the most of them.