What does the future hold for Adelaide's property market? Is it 'recession proof' with the pending mining and defence boom? Or is there likely to be a few quarters of negative movement in the median house price?.
What does the future hold for Adelaide's property market?
All is looking OK right now. The market has really slowed down as confidence has dropped with all the international news of doom and gloom but the fundamental supply and demand is healthy, interest rates coming down, rents are rising due to a shortage of rental homes, investors are re-engaging bricks and mortar with the stock market issues…. and the Government is throwing plenty of cash around at the moment. South Australia has a very long track record of stability and any decrease is likely to small. In 2007 we saw an increase of 20% in one year; we may loose that 2007 gain I am thinking. So if you are a buyer, just factor that in and get amongst it while the opportunity is there to buy a better selection of homes. Great time to buy I would have thought, especially if you are going to live there.
Is it 'recession proof' with the pending mining and defence boom?
Never recession proof but the mines are very significant to the long term future of the State. I think there will be some delays on the start up and that will create a longer lead to any tangible benefits of the magnitude to be a definite barrier to a recession, but the magnitude of our resources are such that we have a very bright future indeed. This current melt down I feel will create some pain, but we will be fine and the winners will buy when others are selling, hey!
Or is there likely to be a few quarters of negative movement in the median house price…
Bern, I expect negative territory, but nothing too bad and remember that that is over the market as a whole, there will be areas of S.A. that will be in positive territory, and others that suffer badly….just remember that position, position, position…the 3 most important factors in real estate!! Buy in a good location, best if it has some land component and look for healthy café’s within easy walking distance, good luck.
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What does the future hold for Adelaide's property market?
All is looking OK right now. The market has really slowed down as confidence has dropped with all the international news of doom and gloom but the fundamental supply and demand is healthy, interest rates coming down, rents are rising due to a shortage of rental homes, investors are re-engaging bricks and mortar with the stock market issues…. and the Government is throwing plenty of cash around at the moment. South Australia has a very long track record of stability and any decrease is likely to small. In 2007 we saw an increase of 20% in one year; we may loose that 2007 gain I am thinking. So if you are a buyer, just factor that in and get amongst it while the opportunity is there to buy a better selection of homes. Great time to buy I would have thought, especially if you are going to live there.
Is it 'recession proof' with the pending mining and defence boom?
Never recession proof but the mines are very significant to the long term future of the State. I think there will be some delays on the start up and that will create a longer lead to any tangible benefits of the magnitude to be a definite barrier to a recession, but the magnitude of our resources are such that we have a very bright future indeed. This current melt down I feel will create some pain, but we will be fine and the winners will buy when others are selling, hey!
Or is there likely to be a few quarters of negative movement in the median house price…
Bern, I expect negative territory, but nothing too bad and remember that that is over the market as a whole, there will be areas of S.A. that will be in positive territory, and others that suffer badly….just remember that position, position, position…the 3 most important factors in real estate!! Buy in a good location, best if it has some land component and look for healthy café’s within easy walking distance, good luck.
Thanks for asking, hope this helps.
Anthony
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