In recent years, the property investment market in South Australia has been a hot topic of discussion among investors and industry experts. With a relatively stable economy, a diverse range of industries, and a growing population, South Australia has a lot to offer those looking to enter the property market.
And while other states struggle to hold onto the housing price boom of early 2021, South Australian property prices have remained fairly constant, with only a relatively minor dip in value compared to the eastern states.
One key factor driving this growth has been the strong demand for housing in South Australia, particularly in Adelaide. According to realestate.com.au, Adelaide has seen an increase in the number of properties listed for sale over the past year. This trend is expected to continue in the coming years as the population of Adelaide continues to grow, and more people look to enter the housing market.
Another contributing factor, according to the Reserve Bank of Australia, is the state’s diverse range of industries, including manufacturing, tourism, and agriculture, which have helped to drive economic growth and create jobs.
For those looking to invest in the property market in SA, one consideration is the property’s location. Accordingly, Canstar’s top ten suburbs to invest in for 2023 are Christies Beach, Craigmore, Dover Gardens, Elizabeth Vale, Gilles Plains, Kurralta Park, Magill, Munno Para, Salisbury East, and Seaford/Meadows*.
While Adelaide is a popular choice for investors, many other areas of the state also offer good investment opportunities. Regional areas such as the Barossa Valley and Fleurieu Peninsula have seen strong demand for properties due to their attractive lifestyles and growing economies.
Another factor is the type of property you’re looking to invest in. Houses tend to be a more stable option, as they generally have a higher demand and tend to hold their value better than units. However, units can be a good option for those looking for a lower-cost investment, and they can also offer good rental returns in areas with strong demand from tenants.
Overall, the property market in South Australia is expected to continue to grow in the coming years, driven by strong demand for housing and a diverse and stable economy. While there are always risks involved, South Australia is a good option for those looking to invest in the property market, as it offers a range of opportunities and a relatively low level of risk compared to other states.
By considering factors such as location and property type, investors can maximise their chances of success and achieve their investment goals.
If you’re considering investing in the property market in South Australia, it’s important to work with a reputable and experienced real estate agent who can help you navigate the process and secure the right property to achieve your investment outcomes. McGrath Real Estate has a wealth of experience assisting investors in finding the right property and achieving their investment goals.
Phone our office on 8350 4200, or drop into 42 Brighton Road, Glenelg.
*Canstar — 10 best suburbs in Adelaide to invest in 2023.