Raine & Horne Managing Director James Trimble acknowledged that this claim may seem almost impossible, with the state seeing median price growth of 22% to $562,882 in 2021 and the potential to see further value added of 15% to properties across South Australia in 2022. .
Mr Trimble believed that this upward trend in South Australia’s property market is driven by “SA’s improved infrastructure and real estate affordability compared to NSW and Victoria”.
Side by side with other states, South Australia has a lower cost of living and, as most buyers with families seek, lower private school tuition.
“Compared to the median price in New South Wales which is close to $1 million, at $562,882, the affordability of property in South Australia is remarkable,” Mr Trimble said.
The synergy of all these factors, along with the anticipated reopening of borders that will attract local and international buyers, will continue to fuel the state’s growth, Trimble said.
For those considering wearing their shrewd buyer and investor hats, the network’s state managing director recommended seizing the opportunity to buy property before the next explosion in value.
To help you get started, here are three investment options in South Australia, curated by Raine & Horne, that could be seen as a bargain compared to their neighboring markets:
Perfect for homeowners or renters, a modern two-bedroom property in Grote Street features an expansive balcony with 180 degree views of the city from the north.
The location offers a metropolitan lifestyle vibe with easy access to Chinatown, Adelaide Market, retail, cafes and schools such as the University of Adelaide’s North Terrace Campus and the east and west campuses of the University of South Australia.
Given these powerful features, Mr. Trimble estimated that “yield-hungry investors will notice that the apartment can fetch rent of $550 a week and possibly more as international students return to universities around the city”.
Open a restaurant, run a home business or live in a charming three bedroom house with a stone facade in Strathalbyn, a gateway to the Langhorne Creek wine region.
With open fireplaces, wooden floors, high ceilings, a bathroom with a spa and storage space that could be converted into a shed, Mr Trimble said, “the house perched on an 870-meter block squares will appeal to residential and commercial buyers because it has an eclectic history”.
Currently a bed and breakfast, the property has served as a residence, the headquarters of an IT company and an award-winning restaurant.
- Classic Farm for $550,000
A classic farmhouse in the prime lifestyle district of Murray Bridge offers buyers just over an hour door-to-office journey to Adelaide.
It includes a swimming pool and spa, is adjacent to the CBD and located near the Murray Bridge Green shopping centre.
Property refers to something tangible or intangible over which an individual or business has legal rights or ownership, such as houses, cars, stocks, or bond certificates.