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Norwood cracks list of hottest property spots

By Brett Pilgrim

South Australia has long been a bastion of affordability for families, with the convenience and lifestyle of owning property in Adelaide being attractive to home buyers. But when you're trying to find the perfect suburbs to spend your investment cash in, a recent survey from NAB uncovers which of the city's suburbs may also be the hot ticket for property investors over 2015 and 2016.

Based on the expectations of a panel of 300 industry experts ranging from real estate agents to property developers, NAB's Quarterly Australian Residential Survey for the final quarter of 2014 reveals a variety of predictions for the property market over the coming years. In particular, the report forecasts some of the hottest suburbs across the country where the experts are expecting to see above average price growth this year.

However, NAB Group Economics predicts only moderate over price rises in the years ahead, but interest rates should help keep the market afloat for a bit longer. 

"Our assessment of the market remains that house price growth will continue to moderate because of rising unemployment, sluggish household income growth, affordability concerns, cost of living pressures and high levels of household debt," the report said.

Brisbane and Sydney are predicted to lead the way for capital growth in the year to end-2015, followed by Melbourne with 2.7 per cent growth in house prices and Adelaide just behind with 2.1 per cent. But if you are looking to expand your property portfolio in light of these predictions, this survey is an excellent starting point for real estate in Adelaide.

All three South Australian suburbs that feature on the list are areas in Adelaide, with property in Norwood, Parkside and Mile End shown as the ideal spots for investment. If you take Norwood as an ideal example, not only has its promise now been confirmed by 300 expert panelists, but according to CoreLogic RP Data figures units in Norwood have rewarded investors substantially over the previous 12 months with capital gains of 12.61 per cent. South Australia's median price changed only 1.58 per cent, further highlighting the suburb's potential.

The outlook appears even sunnier when looking to five-year average increases in property values in the suburb, which has gifted investors with a capital gain of 19.05 per cent over that time. 

If you're looking for more advice about why real estate in Adelaide could be for you, have a chat with your local real estate agent.

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