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Dwelling Values Rise in Adelaide

By Brett Pilgrim

Capital city dwelling values increased across Australia in October, including a 0.3 per cent growth for property in Burnside and other suburbs of Adelaide.

A rise of 1.3 per cent was confirmed across the combined capital cities housing market, according to figures released by RP Data and Rismark International on November 1.

The results show Australia’s capital city dwelling values increased by 7.9 per cent over the past 12 months, which is the fastest rate of growth in three years.

This and other indicators are pointing towards an increasingly strong property market, which is encouraging news for those who have invested in real estate in Adelaide.

In addition to the home growth values, RP Data estimated that over the three months leading to August 2013, capital city home sales were 20.1 per cent higher than the same period last year.

There is also strong improvement in the time a property spends on the market in Adelaide and other capital cities in Australia.

Currently, homes in capital cities will be sold within 44 days of listing, compared to 56 days on the market as was seen a year ago.

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