Adelaide is the state capital of South Australia, the fifth-most peopled city of the country. The city is home to almost 75% of South Australia’s total population, with over 1,300,000 residents enjoying the convenient urban living of the area. It is the state’s main commercial center, as well as the seat of government, making it the dynamic and energetic city the Australians know and love.
Aside from its beautiful beach fronts and numerous notable festivals, the city is also known as a major player in the country’s large manufacturing and defense sectors. Bagging top ranks multiple times for being the country’s most livable city, buying Adelaide real estate guarantees a lifestyle of convenience and affordability only this buzzing city can provide.
Real Estate in Adelaide: By the Numbers
If one is looking to buy, a real estate property in Adelaide is currently in the median price range of $610,500, which is evidently cheaper than most state capital cities. A well-built 2-bedroom house will cost at least $557,000, while a decent 3-bedroom property can go upwards of $760,000. The state’s median house price has steadily increased by 24.6%, compared to the same period from the data of the past 60 months.
It currently has an average demand in the real estate market, having 228 visits per property compared to the South Australian state average of 787 visits per property. If one is looking to rent, the current median rent price of the city is at $430 per week, with a 2-bedroom unit costing $420 and a 3-bedroom unit upwards of $505 per week. Based on 90 property sales and 165 rentals, Adelaide’s rental house yield is 3.7%. Data suggests that people are looking more at renting than buying properties since majority of the residents here are independents.
Why Choose Real Estate in Adelaide City Center
Adelaide is one of the country’s most livable cities, and it is consistently in the Top 10 of The Economist Intelligence Unit’s Most Liveable Cities, out of 140 global participants. First-time buyers and investors alike look at the Adelaide Australia real estate as means to live better or diversify their assets for the long haul. The city is thriving, competitive, and more affordable to live in compared to other state capitals.
Although its Central Business District is relatively humbler compared to others, it still is a Central Business District. Young professionals flock the streets, working in different sectors and industries. Older independents are also living in the city, taking advantage of its compact convenience. Families here enjoy numerous notable options when it comes to the education sector, having the likes of the University of Adelaide and the University of South Australia. It is also home to a number of hospitals and research institutes, including the Royal Institution of Australia and the Royal Adelaide Hospital.
Although the city’s most common residential choice is with the apartment towers, the housing styles still remind people of the city’s affluent history. Elegant large brick houses, two-storey terrace homes are contrasted with today’s modern townhouses, lined up in its beautiful streets. Contemporary townhouses are common here too, together with the vintage worker cottages.
Buying a house in Adelaide gives one the opportunity to live the outgoing city life, while also providing the classic suburb feel that the locals here enjoy. With a great transport system, excellent facilities and a classy CBD, Adelaide is the way to go. Look for houses for sale in Adelaide Australia today!
Other States in Australia
Other locations in Australia are equally as desirable as South Australia. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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