Residential
Explore
Property prices across Adelaide have enjoyed growth over the past year - with new figures from the Real Estate Institute of South Australia (REISA) indicating that there have been some promising improvements in the local real estate market.
On the whole, metropolitan Adelaide saw some improvement compared with the same quarter of 2013, with a 1.96 per cent growth in median real estate prices, which now stand at $390,000.
Unit prices, however, slipped slightly when compared to the previous year's figures for the corresponding quarter - dropping from $305,000 to $300,000.
Green shoots of recovery in the real estate market are evident when it comes to buyer activity, said REISA vice-president Ted Piteo, who remarked that things are looking a bit livelier now than they were last year - especially when it comes to real estate investment.
He said: "REISA members are telling us that the low interest rates are encouraging people to think about bricks and mortar. Although house prices have not moved considerably in recent times, they haven’t moved backwards either, and that is highlighting the stability of property in the longer term."
