If you are planning to make a property purchase, Buyers Agent Guide is the place to visit for information and reviews that will help you find a buyer’s agent in Adelaide.
In the current Adelaide real estate market, it is easy to feel uncertainty when looking for property. Using an independent advisor to assist with buying a home or investment property helps to save time, money and stress and provides buyers with peace of mind.
Adelaide has been overlooked for property investment in the past, with investors preferring the larger east and west coast capital cities.
That being said, ask any buyer’s agent in Adelaide and they will tell you that the real estate market is largely undervalued. In particular, significant infrastructure investments by the South Australian government bode well for the state and its capital.
Navigating the complexities of purchasing a property without assistance can be daunting, but independent agents in Adelaide have their finger on the pulse. Being up to date with market data, development plans and demographic trends, they can quickly identify areas of potential capital growth and high rental returns. An agent’s knowledge of the local real estate market may prove invaluable in your quest for property buying success.
Adelaide Property Market Update (As at March 2013)
Adelaide’s property market was restrained over 2012 and the signs indicate that this could continue into 2013. The latest ABS figures (data as of November 2012) showed the lowest approval of owner-occupied housing loans since April 2011. For the three months to February 2013, Adelaide’s prices have been the second lowest of all capital cities. The median house price was at $395,021 against the capital city benchmark of $485,000, while the median unit price was $320,000 and $95,000 short of the benchmark (see figure 1).
Figure 1 – Median house and unit prices (3 months to February 2013)
Adelaide’s gross rental yields are the second lowest performing of capital cities, beating only Hobart. Rental yields are averaging 4.4% for houses and 4.7% for units (data as of February 2013). This is coupled with the property market experiencing the second largest drop in value, amounting to -1.1% over the year. This drop was only exceeded by Hobart with -2.3% and is significantly lower than the capital city benchmark of 1.3% growth (see figure 2).
House values have been the driver for poor performance – house values dropped 1.5% as opposed to unit values, which increased 2.8% over the year.
Figure 2 – Annual change in capital city property values
Sales of property in 2012 tracked the previous year, with sales down by 0.2%. In addition, sales were 3.3% higher in the first half of 2012 compared to that of the second half. These trends resulted in 2012 sales being 14.6% below the five year rolling average.
Figure 3 – Decline in property values from their peak (to February 2013)
Figure 4 – Average annual change in property values (past 5 years to February 2013)