As if we need to convince you, but just in case you are sitting on the fence, there are too many reasons to consider a move to Adelaide this year. A mix of lifestyle, market performance, amenities, schooling and affordability make investing in or moving to Adelaide a serious consideration for many people. With rental prices nearly half that of Sydney, and with some suburbs in Melbourne seeing house prices increase by nearly 20 per cent over 2019, there is little wonder why people are looking interstate to build a prosperous future.
1. A healthy market performance
Following a market downturn over 2018/19, national dwelling values continued to rise over the second half of 2019, with October seeing the largest month-on-month gain since 2003. A lot of this has come from the major two markets of Sydney and Melbourne, with some suburbs in Melbourne seeing considerable year-on-year growth.
Like some other areas, Adelaide has not seen the same tumultuous fluctuations in markets that have occurred further east, with an average annual growth rate of 1.6 per cent and a .5 per cent fall over the past year. However, this stability is potentially good news for those who are looking to buy in the longterm, rather than those flipping properties or banking on any major short-term increases in the market’s performance. Instead, strong affordability (with median dwelling values at $433,845 compared to Sydney’s $840,072) marks Adelaide as a great option for first home buyers looking to build longterm wealth and a life in a growing urban centre.
2. A stunning backyard
With people increasingly aware of the health benefits that come from regular immersion with the natural world, activities like camping and hiking are seeing a surge of interest. South Australia does not fail to provide ample opportunities to experience wonder at what this country has on offer. A few stunning hikes you can take on are:
The Marion Bay to Gleesons Landing track: a three-day hike that runs through the 500km Walk the Yorke trail. This hike is all about the stunning beaches and epic coastlines that it follows.
The Ikara-Flinders Ranges National Park: the Adnyamathanha word Ikara which generally means ‘meeting place’ is one of Australia’s least known but unbelievable jewels. Copious hiking and camping options can be found only hours from the state’s capital.
3. Strong market potential
Affordability in Adelaide is backed by performance in the lower quartile of house prices in the city over the past year. Where the top quartile saw a 2.6 per cent drop in dwelling values over twelve months, the lower quartile experienced a 2.0 per cent increase over the same period, indicating stability and a degree of immunity from the performance of upper quartile markets which in other cities have driven their surging growth. In Sydney, the upper quartile saw a 9.7 per cent increase over twelve months. The fact that there is positive interest in affordable homes in Adelaide indicates confidence in the local market by regular investors and home buyers.
The significant speed at which Sydney and Melbourne have rebounded from the market correction is quickly placing renewed pressure on those who are locked out of these markets, but with homes at half the price in Adelaide and its growth much less in flux than the larger cities, there is a strong argument for heading to the City of Churches for your first home.
4. A centre for investment in renewables
South Australia has for a long time been acknowledged as maintaining and growing a strong focus on building the role of renewables in its energy production.
Its goal of achieving 100 per cent renewables by the end of the decade was strengthened recently by the Australian Energy Regulator’s approval of the business case for a transmission line linking South Australia and New South Wales so that South Australia will be able to sell its surplus renewably sourced energy to its eastern neighbour to aid in its transition away from coal over the coming decades.
South Australia also enjoys the kind of bilateral support for energy diversification and strong action on climate change emissions that is enjoyed in other countries such as the United Kingdom. The current Liberal government is confident in the next ten year’s of changes it will make to South Australia’s energy system, with SA energy minister Dan van Holst Pellekaan noting in a statement that “South Australia is determined to be a good global citizen, and become a net exporter of renewable energy as part of our aspiration of net-100% renewables in the 2030’s.”
5. World-class education facilities
Adelaide is home to some of the countries best schools and universities. For higher education, you have the option of the University of Adelaide, The University of South Australia, Flinders University, and Torrens University, all of which are world-renowned in their own right, with the University of Adelaide itself ranked in the top 1% of the world’s universities.
There are also plenty of options for young families, with schools within walking distance of many homes across the city. When you search for homes for sale in Adelaide and view a property for sale, simply scroll down to see information about what primary and secondary schools are located near the home.
6. A wine region to make the rest of the country jealous
South Australia has long been known as one of the oldest sources for wine in the country. The first private vines were planted in 1837 in North Adelaide, while German settlers made Hahndorf and Lobethal famous when they too planted their own vines. Today, Hahndorf is one of the must-see spots for visitors to Adelaide, both for its cultural heritage as well as incredible culinary options. Today, South Australia accounts for nearly 80 per cent of Australia’s premium wine offering, with just under half of all Australian vineyards located in South Australia.
If you are after the world-class national parks of Tasmania, the food and wine of Victoria, the relaxed lifestyle of Queensland and the beaches of New South Wales, all with affordable homes to tempt any potential buyer, you have to look towards Adelaide.