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Adelaide Property Forecast 2019 to 2020: Top Suburbs & Market Outlook

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Adelaide is one of the most cost-effective cities in Australia. With its laid-back lifestyle, flourishing arts and culture scene, it has been a good choice for prospective property investors in recent years.

 

However, with the closure of the automotive industry in 2017, property investors have been treading carefully. But things are turning the corner…

 

What is the overall market outlook for 2019 and which suburbs should you consider when thinking about property investment in Adelaide?

 

Adelaide escaped the majority of the property market crash that Sydney and Melbourne experienced, relatively low-interest rates and cost-effective housing in comparison to other capital cities; there has been a 3.8% yearly increase in the average cost of housing in Adelaide.

 

Unemployment continues to fall as a result of the shipbuilding industry, and QBE forecasters predictions reveal that the median house price will increase steadily in the next two years, reaching $north of $500,000.

 

House prices continue to remain affordable, infrastructure is improving steadily, which is good news for Adelaide property investment.

 

Landlords will benefit from an overall vacancy rate of 1.2%; there has been a sharp increase in rental prices. Rental rates are set to increase by 3%-5% during 2019.

 

Adelaide House Prices in 2019

 

Property experts believe that the outlook for property prices is looking promising for 2019.

 

There should be consistent and steady growth, QBE has predicted a +4% yearly price growth for 2019-2020. This would mean that the median house price would sit at over $500,000 for the first time in history.

 

Trusted property experts concur that Adelaide will continue to see steady growth over the next few years.

 

The demand for apartment-style buildings has seen a swift increase in unit building projects over the past four years. This oversupply of apartment buildings has impacted regional South Australia, and vacancy rates have risen approximately 2.3% in 2018, this should continue to increase in 2019.

 

Top Suburbs To Invest In Adelaide in 2019

 

The next two to three years are looking relatively good for the property market in Adelaide compared to many interstate markets. Steady growth means that there are still plenty of cost-effective options to choose from. Here are some of the best suburbs to consider when investing in property in Adelaide.

 

Prospective buyers should focus mainly on the middle and outer suburbs such as:

 

Marion

 

Marion is a beautiful suburb with a lot to offer, just over 10km. proximity to the CBD. With 3,902 total population as of 2016 and it has 4.2% population growth.

 

Housing in the area is relatively cheap compared to those suburbs closer to the Adelaide CBD. With significant development in and around the area, there are good number of units and townhouses to buy.

 

The predominant age group in Marion is 20-29 years. Households in Marion are primarily childless couple. Median house price is around $499,170 and with 6.69% price growth for the last 3 years.

 

The most common type of property in Marion is a 3-bedroom house, with 56.3% of houses in the area having three bedrooms. This is just above the South Australian average of 52.1%.

 

Woodville West

 

Woodville West is an interesting suburb located approximately 8km away from the CBD. With a total population of 3,093 as of 2016 and a population growth of 8%.

 

Much of the growth has come from development in the area, particularly the The Square, Woodville West is the next boom area in Adelaide. With this development, it has brought significant improvements to better homes, parks and new shops. 

 

The predominant age group in Woodville West is 30-39 years. Households in Woodville West are primarily couples with children. Median house price is around $483,309 and with a price growth of 7.04% for the past 3 years.

 

The most common type of property in Woodville West is a 3-bedroom house, with 55.8% of houses in the area having three bedrooms. This is just above the South Australian average of 52.1%.

 

Oaklands Park

 

Oakland Park has a lot to offer too, with just over 10km. proximity to the CBD. The total population of the suburb is 3,841 with a 16.4% recent population growth.

 

With significant development in and around the area, and larger blocks being developed into diverse housing, there are plenty of opportunities to buy in the area.

 

The predominant age group in Oaklands Park is 20-29 years. Households in Oaklands Park are primarily childless couple. Median house price is around $479,389 and with 5.13%% price growth last year.

 

The most common type of property in Oaklands Park is a 3-bedroom house, with 47.1% of houses in the area having three bedrooms.

 

Black Forest

 

Black Forest is one of the best suburbs to stay for couples. It is just about 5km. proximity to the CBD.  With a total population of 1,933, however population growth has declined by 3.7%.

 

This small suburb has a lot to offer. With significant development in and around the area, it still maintained the beautiful tree-lined streets.

 

Many of the homes are bungalows, tudors and etc which are a drawcard for many who look to purchase property in the area due to the beautiful character of the homes both inside and out.  

 

The predominant age group in Black Forest is 20-29 years. Households in Black Forest are primarily couples with children. Median house price is around $715,245 and with 20.64% price growth for the past 3 years.

 

The most common type of property in Black Forest is a 3-bedroom house, with 40.3% of houses in the area having three bedrooms.

 

Bowden

 

Bowden is a very friendly suburb close to the CBD, with approximately 3km away. The total population is 911 as of 2016 and with a whopping 50.4% population growth.

 

With significant development in and around the area, particularlyon the Clipsal site development, Bowden is a great location for investment.

 

The predominant age group in Bowden is 20-29 years. Households in Bowden are primarily childless couples. Median house price is around $560,798 and with price growth of 14.40% for the past 3 years.

 

The most common type of property in Bowden is a 2-bedroom house, with 50.8% of houses in the area having three bedrooms.

 

Queenstown

 

Queenstown is a small suburb not known by many but it has a lot to offer. It is just over 10km. proximity to the CBD. With 1,883 total population as of 2016 and 4.8% population growth.

 

With significant development in and around the area, wide streets unlike newer suburbs, friendly neighbourhood feeling, there are plenty of opportunities to buy in the area.

 

The predominant age group in Queenstown is 50-59 years. Households in Queenstown are primarily childless couple. Median house price is around $412,887 and with 6.21% price growth last years.

 

The most common type of property in Queenstown is a 3-bedroom house, with 45.7% of houses in the area having three bedrooms.

 

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