Adelaide's Middle Suburbs are Top Performers

New quarterly sales data released this week by the Real Estate Institute of South Australia (REISA) has revealed that Adelaide's so-called 'middle' suburbs are demonstrating the highest growth values when compared with figures from March 2012 in terms of overall sales volume.

Ted Piteo, vice-president of REISA, asserted that Somerton Park showed the highest level of growth, rising by 19.5 per cent year-on-year. This was closely followed by rises at Henley Beach South (19.2 per cent) and Plympton (17.3 per cent).

The overall quarterly growth rate for metropolitan Adelaide was 1.9 per cent higher in March 2013 than in December 2012, and the median price of a freestanding property in the SA capital city was $390,000. The median unit price was $300,000 - down slightly from the $305,000 recorded in the previous quarter.

Mr Piteo speculated that the size of the available lots in these communities, as well as the relatively easy access to the Adelaide CBD and local amenities could make the middle suburbs of Adelaide particularly attractive destinations for SA buyers.

If you are keen to explore your options when it comes to real estate in Adelaide, contact your local Ray White office for more information about available properties that may suit you.