Outperformers identified in SA
Three Adelaide suburbs have been picked as outperformers due to their sustained performance above the curve on median price growth.
Taperoo, Semaphore and Munno Para have been revealed as high performing suburbs for both homeowners and investors by Turner Real Estate in Adelaide.
Indicators that were measured were median price growth over 12 months, three years, five years and 10 years, based on figures from RP Data.
The change in median price over three years across Adelaide had been 3.8 per cent.
Over the same time period, the suburb of Munno Para had seen a 40.9 per cent growth in median price, while Taperoo has grown by 10.8 per cent and Semaphore has experienced a 4.5 per cent change.
Other suburbs ranking high on the list include Saint Peters, McLaren Flat and Evanston.
Turner Real Estate managing director Robin Turner said these figures show that areas right across the metropolitan area can offer solid returns and growth.
Buyers should always look at short- and long-term trends in property to ensure they are making informed decisions, Mr Turner said.
“It’s critical that when purchasing property, you understand the area and the economic conditions which are impacting on employment both now and in the future,” he said.
“Many of the suburbs and towns which have made this list have had substantial activity in a sector such as defence or mining support, or there has been substantial population growth.
“With Adelaide’s 30-year plan pointing to sustained growth for both population and the economy, the future looks bright for property.”
Examining the figures also showed an opportunity for buyers, with the median house price of several of the areas below that of the Adelaide metropolitan area ($385,000). These five suburbs were Munno Para, Taperoo, Evanston, Hope Valley and Pennington.
“There is substantial opportunity right now for investors and homebuyers, with the prices remaining relatively flat and interest rates low,” Mr Turner said.
“The market is slowly starting to turn, so now is an opportune time for people to buy and ride the curve upwards with price growth over the medium to long term.”