Those considering buying property in South Australia would be wise to turn their sights to Adelaide, given figures released by the Australian Bureau of Statistics on April 3.
The Greater Adelaide population made up 77 per cent of South Australia’s total population in June 2013. This present opportunities for buying property in Norwood, Burnside or similarly popular suburbs in the capital city.
Meanwhile, those looking to sell may obtain a favourable price as population growth puts pressure on the existing housing supply.
Year-on-year to June 2013, Adelaide’s population grew by 1 per cent. This means an additional 13,100 individuals made up the city’s resident population, which sits at 1.29 million people.
The figures for Adelaide are more positive than the rest of the state, which saw growth of 0.5 per cent.
While most of South Australia had an average population density of 1.7 people people to every square kilometre, the figure for Greater Adelaide was 400 individuals per square kilometre.
With a steadily growing population, there is a myriad of opportunities when it comes to buying, selling or investing in real estate in Adelaide.