The recently released Best of the Best 2014 report by CoreLogic RP Data provides significant insight into the most desirable investment and rental spots in Adelaide. Covering real estate markets across the entire country, the report provides a succinct snapshot of what happened in Australian real estate for 2014.
Those looking for investment property in Adelaide will be interested to know that the relative affordability of the South Australian capital will likely make it a target for homeowners and investors alike. Especially those who have been edged out of more expensive East Coast markets.
While prices are low, this also means that locals with rentals in Adelaide will be achieving significant returns on investment, with a yield higher than more expensive residential property markets elsewhere.
Those looking for good capital gains in Adelaide will be interested to know that houses in Burnside, Prospect and Norwood averaged amongst the highest median values in the city for 2014. The market for units was dominated by properties in the greater Norwood area, with property in North Adelaide and Burnside featuring as well.
Renters looking for low cost housing will find relief in Playford, where the lowest indicative average weekly rents for houses were found in 2014, according to the report. Those looking to rent an affordable unit would do well to look at property in Burnside, specifically Eastwood, Rose Park and Frewville.
The new year could be the ideal time to assess your property goals. As the national real estate market starts to slow down, good rental yields are becoming more and more achievable, especially in Adelaide.
Whether you are looking to expand your investment portfolio or need to talk to a property manager about maximising the yield on your current properties, make sure to talk to a real estate professional in the new year.