As the year draws to a close, it’s a time for reflection and planning, and what better New Year’s resolution than to focus on expanding your property investment portfolio? The Adelaide property market has shown resilience and growth through 2023, making it a prime time for investors to consider their next move.
The State of the Market
Adelaide’s property market has been a standout performer over the past year, with the PropTrack Home Price Index for September 2023 indicating a robust annual growth of 8.31%, with prices reaching record highs (realestate.com.au, 2023). This trend is a clear signal for investors looking for strong capital gains potential.
Record Highs and Resilience
Despite a challenging start to the year, both Perth and Adelaide bounced back to new record highs, as reported through October (Corelogic.com.au, 2023). This resilience in the face of downturns is a testament to the underlying strength of these markets, and for savvy investors, it represents an opportune moment to invest in a market that is not just surviving but thriving.
A Buzzing Auction Environment
The auction scene in Adelaide is also indicative of a healthy market, with CoreLogic noting that November 2023 is set to be the busiest auction week of the year, a positive sign of high demand and investor confidence.
Capital Gains Prospects
Investors are always on the lookout for markets that promise significant capital gains, and Adelaide’s recent performance is noteworthy. The September quarter saw Adelaide leading the way with the highest capital gain among Australian capitals at 4.3% (corelogic.com.au).
Profitability and Low Risk
Moreover, Adelaide has been the most profitable market regarding resale value, with only 1.8% of sales resulting in losses (corelogic.com.au). This low risk of loss-making resales is an attractive draw for investors looking to enter the market or expand their portfolio.
Why Invest Now?
The combination of strong growth, resilience, and profitability makes Adelaide a compelling market for property investment as we look to 2024. The New Year is synonymous with new beginnings, and for property investors, there’s no better time to lay the groundwork for future wealth creation.
As you consider your goals for the coming year, think about the potential that Adelaide’s property market holds. Whether you’re looking to purchase your first investment property or expand your existing portfolio, the current market conditions present a unique opportunity to invest in a market poised for continued growth.
Remember, this article is general in nature and is not financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.
Sources:
https://www.realestate.com.au/insights/proptrack-home-price-index-september-2023/