How much do you need to invest in property?
Firstly it will depend on the purchase price of you potential property purchase. The more expensive the property the more you will need to contribute.
When investing in South Australia, if we were using cash to do the purchase on a $400,000 property, we would need a deposit of $40,000 plus the cost of mortgage insurance (LMI), which is tax deductible. In addition, you should budget for approximately 4% to 5% of the purchase price to cover additional costs such as stamp duty, solicitor fees and mortgage transfer. This can vary on whether it’s a new build or established house.
Is Adelaide a good place to invest in property?
Adelaide is widely being heralded as a good place to invest in property. The City has significant infrastructure projects underway and slated for the future, along with a number of job creation initiatives being rolled out. Typically a city with moderate capital growth, Adelaide is widely tipped for upcoming property price increases, according to this ABC article and a recent RealEstate.com.au report and this is why investing in rental properties in Adelaide is being strongly pushed by interstate property investment groups.
What is the average rent in Adelaide?
Compared to most Australian capital cities, Adelaide has quite an affordable average rent price for houses. The average price for rent in the Adelaide CBD is $463 per week. In suburban areas, as a guide to rental prices, houses in Marion rent for $420 per week on average, $375 in Mount Barker, $320 in Morphett Vale and $310 in Salisbury.
How much does a house cost in Adelaide?
Adelaide property prices for both houses and units have been steadily increasing for much of the last decade.
As of June 2018, the median property price for a house in metropolitan Adelaide was $478,500 and the median price for a unit stands at $269,500 according to the Department of Treasury and Finance.
What are the best suburbs to live in Adelaide?
Adelaide is home to some absolutely fantastic suburbs. The areas often referred to as Adelaide’s most livable include beach side locations such as Brighton, Henley Beach, Glenelg, Seacliff and Semaphore. Inner suburbs in close proximity to the CBD that are highly rated include Unley, Black Forrest, North Adelaide, Kensington and Stonyfell.
Is Adelaide growing?
Yes, in the last 20 years, annual population growth has ranged between 0.18% to 1.13% and is predicted to continue this rapid rate of growth. Adelaide has the lowest population growth rate of any Australian capital city, however it is still considered a rapid rate of population growth for a city in a developed nation.
The bulk of Adelaide’s growth in the last two decades has been in Northern areas such as Gawler, Golden Grove and Mawson Lakes, Southern suburbs, mainly Seaford and Adelaide Hills suburb, Mount Barker.