The Adelaide housing market remains Australia's most underrated market despite its consistent performance over the past year and its positive outlook for 2020, according to the latest report from Hotspotting.
Hotspotting property expert Terry Ryder said one good thing about Adelaide is its consistency in terms of sales and price growth. In fact, over two-thirds of the suburbs in the city reported price growth over the past year, with some even reporting double-digit gains.
"We have often lauded Canberra as the most consistent of the capital cities but Adelaide is a serious challenger. It keeps delivering good sales activity and above-average results on house prices in specific markets," he said.
Middle-market suburbs trumped top-end locations as growth leaders in the city. These suburbs were able to register gains of above 10% over the past year.
"Some of the cheaper areas have also done well, which means that there are high-growth pockets spread throughout various market sectors," Ryder said.
Port Adelaide Enfield is one of the areas investors should consider. This suburb is expected to see an employment boom given the Australian Navy vessel construction in the area.
Marion, a middle-market suburb, is also poised to be a sweet spot. Its pricing is attractive compared to some of the suburbs in Melbourne and Sydney.
Another suburb to watch out for is Playford. Its low vacancies and affordable prices make it an ideal suburb for investors to place their bets on.
Salisbury is similar to Playford in terms of affordability. This suburb enjoys good infrastructure and proximity to major employment hubs.
West Torrens is also set to be a bright spot given its unique position. This region sits between Adelaide's city-centre and the beaches. Homes in the area are priced low relative to its location and infrastructure.
