SA Adelaide top of the charts (finally!)

Yet another win for Adelaide!

 

Good to see some constructive contribution.

 

It was Murray bridge wasnt it?

 

Even devonport

 

REISA Dec Quarter 2020 market update out now, bit disappointing they haven't provided sales numbers and medians for all individual suburbs, but the Local Government Areas data is interesting anyway, showing double digit increase in median house prices compared to the Dec Quarter 2019 :

City of Unley +18.83%
City of Holdfast Bay +15.29%
City of Mitcham +11.45%
City of Burnside +10.18%
City of Onkaparinga +10.16%

https://www.reisa.com.au/documents/item/2546

 

Mine's in the City of Marion...+1.90% What gives? Did I buy a dud?

 

Looking at councils is too broad! Did you buy a dud... depends where and what?

 

Adelaide is still Australia's most consistent property market (yahoo.com)

 

Thanks for the info. LGA sorted by price Q4 2020.

LGA Q4 2020
Adelaide 1,225k
Unley 1,095k
Burnside 1050k
Holdfast Bay 905k
Norwood 875k
Prospect 825k
Walkerville 808k
Mitcham 727k
West Torrens 635k
Charles Sturt 620k
Adelaide Hills 609k
Campbelltown 600k
Marion 537k
Port Adelaide Enfield 495k
Tea Tree Gully 453k
Mount Barker 450k
Onkaparinga 418k
Salisbury 377k
Gawler 350k
Playford 283k

 

Is the adelaide boom already waning?

source: Queensland on Cusp of Property Boom (theurbandeveloper.com)

 

I was suggesting this a couple weeks ago. For example, three bedroom houses in 'boom' suburbs such as Prospect 5082 is down 20.3 percent in the rolling quarter.

 

Aha here it is. I notice 5008 is still tracking north

 

Channel 9 just run a headline story on Adelaide's "overheating" property market.

Apparently many buyers have identified the market as a potential bubble that could burst when more stock hits the market and have fled to safety. This could be the reason for the decline.

 

"Bubble" that has inflated 5% in a decade?

 

Exactly. 5% in a decade and 30% in the past two months.

 

If that was the case, the graph above would be at well over 100%, not 12%.

 

South Australia lost 12,000 jobs in January, can't find any stats for Feb, but we currently have the highest unemployment in Aus. That may or may not have anything to do with it.

 

And we had the lowest unemployment in the nation in Nov 2020. All this says to me is that numbers across the country are fluctuating.

Anecdotally I am seeing many people who would normally live interstate (Sydney and Melbourne) moving to Adelaide and working from home. Many young people who moved away from Adelaide are seeing they can live here and still have the career they were chasing elsewhere.

We've had the lowest level of people leaving the state in nearly 20 years.

 

We had the highest unemployment in Aus in 2019...

 

Exactly.. so not too much of a shock for us to be there now. But to be the lowest in Nov is amazing.

Small example... i work for a major organisation. My team in Adelaide normally has around 16 people. Since Dec we've doubled to 32 people due to new work being placed in Adelaide. I think we are seen as safe in the current environment.

A major call centre has hired 600 additional people in the last 6 months.

Perhaps im overly optimistic, but I see great signs for Adelaide at the moment. Everyone to their own. If you dont like it, dont invest here.