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Report Highlights Median Price Increases

By Brett Pilgrim

House prices were on the rise in Adelaide during 2013, according to a recent report from Australian Property Monitors (APM).

APM reported in its capital city market report for January 2014 that the median house price rose up to 3 per cent in Adelaide throughout 2013 – the first annual increase since 2010.

In fact, APM Senior Economist Dr Andrew Wilson stated in the report that the the median house price in the South Australian capital city is only 3.4 per cent below its previous peak.

At the same time, affordability in the region continues to lead to demand from first home buyers. Mr Wilson went on to state that first home buyer activity in Adelaide is among the “highest of all the capitals for market share”.

Even with the city facing a less than stellar unemployment rate, annual home prices are predicted to rise another 2 to 3 per cent throughout 2014.

For owners of property in Adelaide, the combination of price increases and buyer demand would seem to indicate that now is the time to think about selling.

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