Adelaide Property Attraction
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What is the main topic discussed in this episode?
It's the Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia.
And welcome to another episode of the Real Estate Podcast. Well, if you're in Brisbane, you're probably licking your lips over the growth that you have had. The highest annual capital growth in Australia with values up 29% in dollar value. That's around $160,000 today.
What are the current property market trends in Adelaide?
of course regional areas like adelaide is performing pretty well house values in adelaide over the last 12 months grew 27 so adelaide is also performing like a champion and there's plenty of buyer competition in adelaide at the moment but stocks are low which is still driving the market forward So I thought, well, let's bring in Justin Corinda from Adelaide. He's the Managing Director of the Ray White office in Glenelg. G'day, Justin. Welcome to the program.
Why is Adelaide considered one of the best cities to live in?
Thanks for having me. I think a lot of people are probably envious of you. Third most livable city in the world, Adelaide, in a recent survey study.
Yeah, certainly. Yeah, no, it's a beautiful place to live. And yeah, we're certainly very lucky to call Adelaide home.
What are some of the attractions that are really pushing Adelaide at the moment, do you think?
Look, I think being such close proximity to the eastern seaboard is obviously a true positive. I think people like the, I guess, slower pace of Adelaide compared to some of the other states. We're very close to the water.
What attractions are driving people to move to Adelaide?
We have some of the most beautiful beaches. We have some fantastic education facilities. And everything's really 15 minutes from one another. They call it the 15-minute state. Nothing's too far. Traffic isn't too ridiculous. And yeah, it's just a really nice, family-friendly place to be.
Oh, I'm just starting to relax totally down onto my bones as you're talking. This is the effect Adelaide has. And we've actually talked a lot about people moving around and jumping borders to get out of the metro areas like Melbourne or Sydney.
How has remote work influenced property buying in Adelaide?
And Adelaide, as you say, is certainly showing up as a destination for people to go to. You've mentioned some of the attractions. So what do you think is attracting interstate buyers into Adelaide?
Look, I think one of the things in speaking to people, the opportunity with the COVID situation of being able to work remotely. So we're finding that many people are coming over from a Sydney or Melbourne. They're able to keep their same job, in a lot of cases, the same income or same wage, but able to obviously come to Adelaide. House prices are significantly lower. So there is some value there. Obviously, bigger blocks, bigger houses, and I guess more family-oriented.
Yeah, the bigger blocks, of course, and also the median price.
What are the benefits of living in Adelaide compared to other Australian cities?
I mean, isn't it just a smidge under $600,000?
Yeah, that's right. So although we have seen some fantastic growth in the last 12 months, we're still significantly less than a lot of our neighbours. From a value for money point of view, we're seeing people purchase properties $600,000, $700,000, $800,000, 1,000 square metre blocks, you know, within five kilometres of the city, which, you know, is pretty unheard of in some of the other states around Australia.
You know, it's such a leveller, isn't it? The ability now to be able to work from home. I mean, that just is a level playing field. And that's why some of these other areas, these regional areas like Adelaide are just performing so well.
Yeah, that's exactly right.
How is infrastructure development impacting Adelaide's growth?
That opportunity to be able to live in a city where you can work from home, whether it's along the beach, whether it's in close proximity to cafes, restaurants, it's definitely been a game changer for South Australia and in a lot of cases has put South Australia on the map.
Oh yeah, without a doubt. And of course, we mentioned about the interstate buyers, but of course, we've got some of the Adelaide expats that are returning home. So tell us a little bit about that.
Yeah, really interestingly, speaking with a lot of our recent purchasers, they may have lived in some of the eastern seaboard states for a number of years.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:02–0:29
2
What are the current property market trends in Adelaide?
0:29–1:03
3
Why is Adelaide considered one of the best cities to live in?
1:03–1:41
4
What attractions are driving people to move to Adelaide?
1:41–2:15
5
How has remote work influenced property buying in Adelaide?
2:15–3:02
6
What are the benefits of living in Adelaide compared to other Australian cities?
3:02–3:47
7
How is infrastructure development impacting Adelaide's growth?
3:47–5:02
8
What future opportunities exist for Adelaide's real estate market?
5:02–8:13
Speakers
2 identifiedMore from Aussie Real Estate Podcast
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