Recent research completed by property market forecaster LocationScore.com.au indicates three South Australian suburbs are among 15 Australian hotspots sure for price growth.
Although Melbourne is taking the lead with the top 3 spots, Adelaide shows promise, with strong demand and supply.
There is no doubt Adelaide has competitive affordability rates compared with other capital cities. Relative affordability, and growth of demand and supply, make Adelaide a city which can give you an excellent return on your investment.
In regards to location, Birkenhead is showing a large amount of interest from buyers, tight stock numbers, low vacancy rates and only slight price discounting.
Birkenhead in particular is a limited opportunity – for best return, an investor should act quickly, as there is strong demand in Birkenhead and possibly not enough stock available.
With prices around $370,000, O’Halloran Hill proves worthy of praise when it comes to affordability – especially with strong rental yields and high interest online.
Not too far from O’Halloran Hill you can find Reynella, with housing prices around $330,000. Reynella is quickly climbing the ladder in the property market, attracting more interest to the far-southern region of Adelaide.
Reynella has seen a strong average rental yield at 5.2%, as well as a vacancy rate of only 0.3 per cent.
Investors would be wise to buy into or keep hold of investments in these areas, with growth on the horizon.