Buyers across nation are heading for Hills!

Monday, 22nd October 2018

 

HOUSE hunters are looking to the Hills as Adelaide emerges as one of the nation’s top property markets.

A property outlook report released by leading property website realestate.com.au today lists Crafers West as the nation’s third most-searched for suburb by its buyers over the last quarter, behind South Hobart and Battery Point in Tasmania.

Aldgate comes in at No. 5.

REA Group chief economist Nerida Conisbee described Adelaide’s market as “relatively red hot” in terms of price growth compared to the rest of the country.

Its success is mirrored in CoreLogic data which shows Adelaide dwelling values rose by 0.5 per cent over the three months to the end of August, the highest increase recorded for any capital city.

While the market slows nationally because of factors including increased lending scrutiny, Ms Conisbee described Adelaide as an “investment hot spot”.

“Adelaide is doing well, even though buyers are under the same finance hurdles as the rest of Australia,” she said.

“Relative affordability and what appears to be better jobs growth are the key drivers.”

HOUSE hunters are looking to the Hills as Adelaide emerges as one of the nation’s top property markets.

A property outlook report released by leading property website realestate.com.au today lists Crafers West as the nation’s third most-searched for suburb by its buyers over the last quarter, behind South Hobart and Battery Point in Tasmania.

Aldgate comes in at No. 5.

REA Group chief economist Nerida Conisbee described Adelaide’s market as “relatively red hot” in terms of price growth compared to the rest of the country.

Its success is mirrored in CoreLogic data which shows Adelaide dwelling values rose by 0.5 per cent over the three months to the end of August, the highest increase recorded for any capital city.

While the market slows nationally because of factors including increased lending scrutiny, Ms Conisbee described Adelaide as an “investment hot spot”.

“Adelaide is doing well, even though buyers are under the same finance hurdles as the rest of Australia,” she said.

“Relative affordability and what appears to be better jobs growth are the key drivers.”

Ms Conisbee said investors tended to favour Adelaide’s inner suburbs and she noted the popularity of Crafers West and Aldgate.

According to the report, the Hills are outranking the plains when looking at the most searched-for suburbs in SA Crafers West, Aldgate, Glenalta, Hawthorndene, Belair and Stirling are all in our top 10.

LJ Hooker Stirling principal Josh Biggs grew up in Aldgate and has been selling in the Adelaide Hills for 20 years.

He was not surprised to hear of the Hills’ popularity, having noticed increasing numbers of families moving to the region in recent years, mostly from the Adelaide plains.

“It’s always been popular but in the last year or two there’s been a bit more of a move up to the Hills,” Mr Biggs said.

He said increasing numbers of Baby Boomers were downsizing, meaning there had been an influx of family homes.

“There’s a bit of generational change (and) definitely I think affordability is a big thing,” he said. “For around $700,000 in a suburb like Crafers West, you get really good value for money – you’ll get a two bathroom, four bedroom home on half an acre.”

Mr Biggs said buyers who were priced out of the family homes in the prestige eastern suburbs, which generally sell for more than $1 million, often looked for family homes 15 minutes away in the Hills.

Vendor Anton Delbin, who is selling has four-bedroom Crafers West property on Hillview St, is among those downsizing, but he plans to remain in the Hills.

He moved to the area 20 years ago with his wife and says its greenery and serenity made Crafers West the perfect place to raise their two children.

“Here you can live like a king,” he said.

Article courtesy Eleanor Miller The Advertiser 10th October 2018

For info on investment opportunites in Adelaide contact the Investo team for a one on one coffee and chat info@investoproperty.com.au or come along to our next Free Property Investing Workshop

 

WHAT MAKES A CITY A HOT INVESTMENT? 

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Before sourcing properties for clients to invest in, we always study the macro indicators of a region.

We look at:

  • Infrastructure Investment
  • Population Growth
  • Employment and the economy
  • Supply and demand for property

This is all underpinned by property affordability and positive cash flow investments for the investor

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Event Details

Tuesday 13th November 2018

Start time 6pm to 7.30pm

The Executive Centre, 26th Floor

One Bligh Street

1 Bligh Street 

 Sydney NSW 2000

*Light Refreshments provided*