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Optimism Returns to SA Property Market

By Brett Pilgrim

The South Australian property market continues to go from strength to strength, as the latest figures show confidence has increased at the start of 2014.

The Property Council/ANZ Property Industry Confidence Survey indicates further growth opportunities for the first three months of the year, potentially benefiting real estate in Adelaide.

In South Australia, confidence reached 130 index points this month, up from the 114 points recorded in December 2013.

On a national basis, confidence is currently at its highest since the survey began in December 2011.

Richard Angove, executive director of the Property Council’s South Australia division, said these figures do not just spell good news for real estate, but also the economy as a whole.

“The success of the property industry is often a prerequisite for the success of the state and nation at large.

“Ensuring that the confidence expressed to March is built on in subsequent quarters is essential,” he commented.

Mr Angove noted that the housing industry had seemingly bottomed out, which is starting to be reflect in confidence surveys such as this.

The expert added that the sector has faced some difficulties over recent months, but these latest figures indicate the worst may now be over and the situation is finally starting to improve.

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