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The city of churches has grown at its fastest rate in 13 years throughout 2021, yet what lies in store for the Adelaide property market in 2022?
From beaches to bush, the property market in Adelaide continues to show no signs of slowing down, breaking records month-on-month throughout 2021.
On the 12 months to November 30, CoreLogic data notes Adelaide property prices are up 21.4%, pipped out of the top four capitals only by Hobart (27.7%), Sydney (25.8%), Brisbane (25.1%) and Canberra (24.5%).
CoreLogic’s Head of Research Eliza Owen said the quarterly growth in dwelling values across Adelaide reached 6.5%, the second highest of the capital city dwelling markets across the country and its highest quarterly growth rate for the past 20 years.
The Adelaide housing market has seen sustained, high levels of quarterly growth in part attributable to persistently low levels of housing supply and relative affordability,” Ms Owen said.
“Adelaide’s median dwelling value of $558,179 makes it the third most affordable city behind Perth and Darwin.”
Peter Koulizos, Master of Property Program Director at The University of Adelaide and PIPA Chair, said Adelaide has seen growth of over 20% in the last twelve months with majority of the activity coming from gentrification in the inner-western suburbs.
“This area of inner-western suburbs I call the ‘Turquoise Coast’ – between Christies Beach and Aldinga Beach,” Mr Koulizos told Savings.com.au.
“People are buying a lot of lifestyle properties along the beach with a significant portion of activity coming from interstate.
“These interstate buyers are two groups: those that are moving to Adelaide or relocating to Adelaide from Sydney of Melbourne and eastern state investors.”
Tipped to continue to make waves in the property market in 2022 due to its sheer affordability, Adelaide suburbs tipped to watch out for are:
Jacob Cocciolone, savings.com.au, 17 December 2021