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If you want to enter the market, you may want to consider it soon.
New data analysis from Rea Group shows whether the South Australian market experienced growth over the next five years will repeat, and HouseHunters will need more savings than they are now.
According to the report, if history is long, Adelaide’s median home prices could rise from the current median of $841,000 to as high as $1.464 billion, based on a 75% increase over the past five years.
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Those who want to buy a unit also need a lot of deposits – if the unit price rises 64% over the past five years, that would take the median from the current $573,000 to the coveted $938,000.
This will put Adelaide in the country third, behind Sydney, at $2.4 million, with a price of $1.54 million in Brisbane, while the second time this accommodation type is expensive, after Brisbane, with a median of $984,000.
While prices may not repeat what we have seen in the past five years, prices are expected to rise in the near term at least, at least in the short term.
“We hope we will continue to see rising house prices this year … This is why we expect to see lower interest rates, which will improve borrowing capacity,” Moore said.
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Rea Group senior economist Angus Moore. supply
“But, of course we won’t expect to see prices grow rapidly in 2021, and you know, the kind of speed we’ve seen in Adelaide and Perth in recent years.”
“We still expect Adelaide to perform relatively well (compared to other capitals).
If history repeats itself, homeowners in the northern suburbs of Adelaide look to be the biggest winner.
Another 209% increase – seen in the past five years – brings Dawarren Park median to $1.578 million.
Elizabeth North and Elizabeth Downs are not far away, with prices rising 197% and 193% respectively.
Mike Lao, director of Edge Realty for sale in the northern suburbs, said he expects continued value growth in the northern suburbs, but new home pipelines scheduled to be planned over the next five years will reduce its rise.
“Starting from rising housing values in the north, in the rising housing values in the north, the market is still flattening, but they are still rising,” Laos said.
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Mike Lao from Edge Realty. supply
“We will still see growth over the next five years, but because of the large number of new homes at the time, this growth will naturally be limited by the increase in buyer choices.”
According to the report, in order for suburbans to record 30 or more sales in 2024 sales, Hazelwood Park Houses will own the state’s highest home price, increasing from the current $1.91 million to 102% to $3.852 million.
If the repetition increases by 74% growth, the St. Peters home will hold on.
The current median of $220 million will rise to $3.842 million.
What will be 2030 (if history is repeated)
The biggest growth
| suburb | Current sales price | 5 years % change | Median sales price in 2030 |
| In front of the park | $511,000 | 209% | $1,578,000 |
| Elizabeth North | $468,000 | 198% | $1,388,000 |
| Elizabeth Towns | $520,000 | 193% | $1,523,000 |
| Smithfield Plain | $522,000 | 188% | $1,504,000 |
| Peterborough | $193,000 | 177% | $533,000 |
| Clive | $283,000 | 175% | $778,000 |
| Elizabeth East | $546,000 | 168% | $1,461,000 |
| Elizabeth South | $480,000 | 167% | $1,280,000 |
| Elizabeth Park | $530,000 | 163% | $1,394,000 |
| Hackham West | $620,000 | 158% | $1,602,000 |
Our Most Valuable Suburbs of 2030
| suburb | Current sales price | 5 years % change | Median sales price in 2030 |
| Hazelnut Park | $1,910,000 | 102% | $3,852,000 |
| St. Peters | $2,203,000 | 74% | $3,842,000 |
| Malvin | $2,132,000 | 76% | $3,747,000 |
| Glenelg East | $1,650,000 | 116% | $3,570,000 |
| Somerton Park | $1,750,000 | 94% | $3,403,000 |
| Hawthorne | $1,795,000 | 88% | $3,383,000 |
| Beaumont | $1,735,000 | 93% | $3,345,000 |
| Kensington Gardens | $1,725,000 | 86% | $3,217,000 |
| Mitchem | $1,663,000 | 91% | $3,177,000 |
| Kensington Park | $1,670,000 | 90% | $3,176,000 |
Source: REA Group. All data are used in suburbs.
– With Lydia Kellner