SOUTH AUSTRALIA
ADELAIDE AND SOUTH AUSTRALIA - SHORT , SHARP LOCKDOWN LEADS TO A DROP IN LISTINGS BUT IMPACTS LIKELY TO BE MINIMAL
Adelaide ’ s lockdown was short and sharp but surprisingly led to a large decline in the number of properties for sale . The lockdown itself appeared to lead to a relatively large number of auctions being delayed , although for those that went ahead , active bidders remained particularly high and in fact were the highest in the country . Competition remains high for properties in Adelaide .
For investors , Adelaide is worth having a look . It ’ s affordable and it ’ s possible to get a good quality home in a nice suburb for a competitive price . The city has been a good performer in terms of price growth and in many ways benefited from COVID-19 , particularly changes to the way people work . The size of the city means it ’ s hard to attract big employers , however if many employees have more freedom to live where they want , Australia ’ s most liveable city appears to be a place that many choose to move to .
Given most investors tend to target properties priced under the median for that city and region , the following table details the best price growth suburbs in Adelaide and regional South Australia below the house price median . It ’ s important to note historical price growth is no indicator of future conditions however there are some interesting trends that could be considered :
• Units in some of Adelaide ’ s more expensive suburbs are doing well at the moment , perhaps driven by rising affordability challenges in housing markets and a subsequent shift by buyers to lower cost apartments .
• Mining is driving price growth in parts of regional South Australia . Topping the list for price growth for towns with a median under $ 300,000 is Risdon Park , a suburb of Port Pirie . The Whyalla region is also doing well .
• Agriculture is also doing well with Berri experiencing price growth of more than 20 per cent . Murray Bridge is also a strong performer .
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