Property experts are eager to share their insights into where to invest in 2020, whether it be a regional area, in Sydney, or all across Australia.
But according to Hotspotting property expert Terry Ryder, there’s one booming market that is going unnoticed: Adelaide.
“Adelaide is undoubtedly Australia’s most under-rated market. We have often lauded Canberra as the most consistent of the capital cities but Adelaide is a serious challenger,” said Ryder.
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The city’s consistency of sales is “remarkable” and more than two thirds (62 per cent) of Adelaidean suburbs saw price growth in the last year, with some areas seeing double-digit rises.
“The list of suburbs with growth above 10% is dominated by middle-market suburbs, rather than top-end locations which has been the growth leaders in the recent past,” Ryder said.
“Some of the cheaper areas have also done well,which means that there are high-growth pockets spread throughout various market sectors.”
In the last five years that Hotspotting has been gathering sales data every quarter, Adelaide has never delivered a poor result, Ryder added.
“Most cities have had peaks and troughs in that time, but Adelaide just keeps on producing steady markets with consistent demand.”
Why is Adelaide an investment hotspot?
The City of Churches is benefiting from its reputation as a hub for the defence sector – the city is set to see a $90 billion program to build vessels for the Australian Navy – as well as its reputation as a high tech and innovation precinct.
This is “attracting large numbers of national and international businesses,” said Ryder.
The best Adelaide suburbs to invest in
According to a recent report by Ryder, the following suburbs are your best bet if you’re looking for areas where house prices are set to grow:
Port Adelaide Enfield
The Navy vessel construction will be located here, which will see 500 public servants relocate to this area, meaning Port Adelaide Enfield is set to see a jobs boom, the report said.
“Marion is a middle-market area, but its pricing is attractive in comparison to Sydney and Melbourne, and it has many growth suburbs. Medical, education and technology precincts drive demand here.”
Some of the most affordable houses in Australia’s capital cities can be found in this area, according to Ryder, as these locations have “good infrastructure and proximity to major employment nodes”.
“The suburbs of West Torrens are strategically located between Adelaide’s CBD and its beaches,” said Ryder. “Its pricing is attractively low relative to its location and infrastructure.”
This area is South Australia’s fastest-growing municipality, according to the property expert, with one of Adelaide’s most active property markets driven by affordable prices and low vacancies.