There are all sorts of facts and figures you will need to take into account when considering property in Adelaide, especially if you are hoping to make it a worthwhile investment.
With plenty of headlines speculating over the state of the Australian property market, it can sometimes be difficult to tell exactly what is going on in the South Australian capital.
The latest figures from realestate.com.au do confirm something – real estate in Adelaide is in high demand and the trend is showing no sign of slowing down.
The website revealed for every property that is currently on the market, 23 people are looking, indicating a skewed demand to supply ratio.
Not only this, the average cost of property in Adelaide has increased over recent months – in June this year, the median house price stood at $510,000, but rose to $786,250 just two months later.
As for units, the median price was $399,000 in June before rising to $488,750 in August.
With the official cash rate at an all-time-low of 2.5 per cent, it is possible that demand for these properties will only increase further over the coming months.
Adelaide offers a great lifestyle choice and investment potential, so it is easy to see why its property market is thriving.