Australian capital cities continue to see increasing dwelling values – great news for owners of property in Adelaide.
The latest RP Data – Rismark Home Value Index shows that there was a 1.2 per cent capital gain among the capital cities during January.
Rismark CEO Ben Skilbeck said in a February 3 media release that while capital city value growth is expected to moderate in 2014, population growth, rising demand for housing credit and positive consumer sentiment make it unlikely to happen anytime soon.
“Growth in outstanding housing borrowings has increased meaningfully from its lows,” Mr Skilbeck said.
“Most noticeable is investor borrowing which for the calendar year 2013 grew by 7 per cent compared to 3 per cent in 2011.”
In fact, the latest lending data available from the Australian Bureau of Statistics (ABS) shows lending commitments over November 2013 were 19 per cent higher than during the same time in 2012.
It’s this demand that is helping to push home prices higher, and provide owners of real estate in Adelaide a great opportunity for solid results on a home sale.