Adelaide has a veritable buffet of investment opportunities on offer, particularly for those looking to make their first step onto the property ladder. Part of this decision is choosing what category of home you'd like to buy, be it apartment or house. Fortunately, new research from CoreLogic RP Data may offer a few insights.
The report provides a summary of the top 10 suburbs from each state with the largest differences in median values between house and units. In many cases, the chasms are substantial – take property in Adelaide, for example. The city had a strong showing in South Australia's top 10, with houses in all but one of the suburbs posting a median value of over $1million. By comparison, units in the listed areas sit below the $500,000 mark.
CoreLogic senior research analyst Cameron Kusher pointed out that many investors are attracted to units for their typically higher rental returns.
"The search for housing affordability, strong demand from overseas buyers and heightened investment activity means that there is growing demand for units," Mr Kusher said in a 25 May release.
On the other hand, detached property in Adelaide could offer more potential for capital growth over the long term. Whatever route you decide, investing in real estate in Adelaide could be an economical way to get a headstart in the property market.
While houses are soaring out of reach in other parts of the country, you can still pick up detached property without breaking the bank – and apartments are even more affordable. According to SQM Research, the median asking price of a house in Adelaide was recorded at $487,700 as of 26 May, while $297,700 was the price for units.
Picking the right property can be the cornerstone of your investment success – but for help finding tenants, organising maintenance and repairs and a whole raft of other tasks, make sure to tap into the property management expertise of Ray White Adelaide.