Adelaide's housing market is expected to be very busy this year as strong confidence and record-low interest rates encourage more buyers, according to a prediction by Raine & Horne Australia.
Over the past year, Adelaide managed to report a 5% price growth despite the impacts of the COVID-19 outbreak on the real estate market.
James Trimble, general manager at Raine & Horne in South Australia, said robust market conditions in the city and across the state will likely continue until early April. He said inner-ring suburbs and the Adelaide Hills will be the hotspot regions in the South Australian capital.
"With more people now able to work from home as a consequence of COVID, owning a family home in the Hills district is significantly more appealing to those seeking value and who now only need to commute two to three days to the city," he said.
Beachside suburbs such as Glenelg, Seacliff, Brighton, West Beach, Henley, and Grange are also expected to be popular.
Trimble said the re-opening of state borders will help boost demand for houses in Adelaide.
"Some people living in Sydney, Melbourne and Brisbane will recognise Adelaide’s real estate affordability and shift here to take advantage of our lifestyle and be mortgage-free," he said. “Likewise, we expect South Australians who have ridden the property wave well interstate to also return to their state of birth."
