Adelaide house prices are expected to rise 1.7% next year (Realestate)
Although Sydney has been leading house price growth in Australia for years, its dominance will be replaced by an unexpected city next year.
Home prices in Adelaide, the capital of South Australia, are expected to rise 1.7 percent in 2019, according to the latest National Bank of Australia Housing Survey report, according to Realestate, a property website, with Hobart on top of the expected growth rate.
It also means that Adelaide`s median home price will rise from A $454000 to A $461718.
Although the 1.7 percent growth rate is not high, by contrast, average house prices in Australia`s capital cities are expected to fall 0.1 percent in 2019. The booming Sydney housing market is expected to fall further by 0.7 percent next year, while Melbourne`s home price is expected to fall 0.1 percent.
Harris (Gregg Harris), managing director of the National Bank of Australia in South Australia, said moderate house price increases and a growing rental sector were driving demand in the South Australian housing market. Research shows that confidence in the South Australian housing market rose next year, and long-term confidence is strong.
Adelaide`s A $1 million property club has grown significantly over the past year, dominated by eastern hotspots, according to the latest market data from real estate research firm CoreLogic. Adelaide now has 32 separate urban homes with a median price of more than A $1 million, up from 22 in April last year and nine in July 2015.
Adelaide`s position as one of the world`s most livable cities is consolidated, given that Adelaide`s home price is about 40 percent lower than the average in Australia`s capital cities.
"all in all, Adelaide`s housing market is expected to grow sustainably and steadily over the next few years," said Owens (Alexander Ouwens), president of the South Australian Real Estate Research Institute (Real Estate Institute of South Australia). Catch up with the housing market boom in eastern Australia. Investors from the east of Australia continue to increase, actively looking at the house. Adelaide`s business confidence is also rising. "
Adelaide`s 10 fastest-growing urban areas in the past year:
Median (Glenelg South): house in Guillernan: $1.35 million, year-on-year increase: 42.1%
Median Roaston Park (Royston Park): House: $one million two hundred and twenty five thousand, 38.4% year-on-year increase
Median price of (Hazelwood Park): stand-alone home in Hazelwood Park: $one million one hundred and seventy nine thousand, annual increase: 36.7%
Median (Kensington Gardens): house in Kensington Gardens: $1.15 million, up: 30.7% per yea
Median (Kensington Park): house in Kensington Park: $one million one hundred and sixty thousand nine hundred and ninety nine, up: 30.4%
Median Woodville (Woodville): house: $ seven hundred and fifteen thousand, 30% year-on-yea
Median (Gilberton): house in Gilberton: $one million two hundred and seventeen thousand nine hundred and ninety nine, year-on-year increase: 29.2%
Median Sany Garden (Trinity Gardens): House: $ nine hundred and sixty thousand, year-on-year increase: 28.5%
Median Stanfield (Stonyfell): house: $one million eighty five thousand, year-on-year increase: 25.4%
Median Dalic (Dulwich): house: $one million three hundred and thirty nine thousand, year-on-year: 24.6%
