The real estate sector of southern Australia continues to show its strength on the national stage, with a new report that reveals the average housing price of SA has deciphered $ 800,000 and is now $ 74000 more than last year.
According to the May Housing Price Index report, the properties of southern Australia registered the highest growth during the past year, with combined regional homes, both in the house and the unit, prices rose 11.6 percent during the past year, and metropolitan housing is priced at 10.77.
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SA also registers the second and third highest growth throughout the country during the last month, 0.3 percent for metropolitan houses and 0.48 percent for households in regional SAs only by Queensland regional houses, which increases by 0.49 percent.
The medium price of combination of Adelaide is currently at $ 804,000. In its May 2024 report, Proptrack had the average value of Adelaide’s house at $ 730,000, while the data group currently has the regional price of South Australia at $ 480,000, also a record. This time last year, that was $ 434,000.
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Senior Eleanor Cregh Economist Proptrack
The author of the Eleanor Creagh report said that while the national housing prices increased in April, the growth rate has slowed compared to the first three months of the year.
“If interest rates fall in May, we can see that the growth rate is removed again as the indebtedness capacities and mortgage payments increase decrease,” he said.
“The price growth rate is moderating in cities superior to cities such as Perth, Adelaide and Brisbane, while Low performance such as Melbourne, Canberra and Sydney have begun to capture.
“This is decreasing the divergence in the growth of the price of housing seen throughout the country during the past year.
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The price of Adelaide’s housing has also reached a new 0.29 percent higher for the month and 10.7 percent for the year to $ 861,000, while the metropolitan units have increased by 0.41 percent during the past month and 11.32 percent in the last 12 months to $ 608.
At the regional level, the average housing price is at $ 490,000, and the average unit price of $ 425,000.
Since the beginning of the Pandemia, March 2020, the price of the Metropolitan Housing Adelaide has increased by 85.1 percent, while regional houses have increased by 88.6 percent.
Housing values are in all Adelaide. Image: Brenton Edwards
Turner Real Estate managing director Lachlan Turner said in the current economic climate that many had resorted to property as a solid investment.
“In economic times uncertainly, people tend to make tangible and appreciation assets more an approach and, in fact, we have seen an increase in the price of gold,” he said.
Real estate are also real and a safe attractive refuge for investors, which makes it an excellent asset. “
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Lachlan Turner, managing director, Turner Real Estate. PIC: supplied.
According to the report, the values of the houses in the area of northern Barossa-Mid-Mid North have increased in the last 12 months by 14.11 percent to a median of $ 490,000, while homes in the regions of Adelaide West and North have a median or $ 11.49 $ 699,000.
Mrs. Creagh said the market was waiting for the result of federal elections this weekend.
“With the affordability of housing a key issue in the next federal elections, both work and coalition have announced political incentives for the first housing buyers,” he said.
“As a result, many of these buyers may be affecting their time to enter the market after elections and the launch of thesis policies.
“Whicever Party is chosen, it is expected that the combination of the increase in buyer incentives of the first home, the lowest interest rates and the challenges of the offer side contribute to even higher property prices in 2025”.