Adelaide property is in the spotlight once again, which is great news for investors looking at capital gains. According to RP Data, Adelaide recorded the strongest growth of all of the capital cities over September.
Sydney achieved 0.8 per cent month on month, Brisbane scored 0.7, whilst all of the other capitals excluding Adelaide posted negative growth results. Adelaide topped the charts at 0.9 per cent, while the average across all capitals was only 0.1 per cent.
While Adelaide has been associated with the more budget-conscious investor, it remains true that a modest capital outlay can net you a great property, with a decent rental return.
It does seem that Adelaide is getting its fair share of attention from investors and home buyers, with two Adelaide suburbs in the top three most desirable locations according to realestate.com.au.
Parkside was the most popular with buyers, with houses in this suburb seeing more views per property than homes anywhere else in the country. The next in the list was Cherrybrook (NSW), and rounding out the top three was Norwood.
According to the Real Estate Institute of South Australia (REISA), property values across the state were up 2.18 per cent in September, from the same time last year.
Adelaide Metro did a bit better than the rest of the state at 3.8 per cent. REISA President Ted Piteo said the following: "What is pleasing however, is that the median price continues to remain above $400,000 and in fact, is 3.8 per cent higher than the same period last year. As the weather warms up, more vendors and purchasers will enter the market place and this will result in an increased volume of sales."
Those looking for investment property in Adelaide should try and jump in before the spring sales really take hold, and for those selling their Adelaide rental investments to realise their capital gain, it looks like good times ahead.