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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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SA bullish about future

By Staff Reporter
08 January 2010 | 1 minute read

The Real Estate Institute of South Australia’s recently appointed president, Michael Brock, said he is bullish about the state’s future.

According to Mr Brock, house prices in South Australia jumped an average of 5 per cent across the board last year and he expects this number to double in 2010.

“The fact that we had an increase in overall prices in 2009 against the backdrop of a global economic crisis is very positive and will set the foundation for the next few years,” Mr Brock told The Australian Financial Review.

He said rising interest rates would do little to dispel the positive growth forecast for South Australia and in particular Adelaide.

Mr Brock believes the greatest demand for property over the coming year will come from investors both foreign and local.

“I spoke to a group the other day and they have 125 Asian investors all looking to spend up to $650,000 each for investment properties in South Australia,” he said.

“Residentially, at the top end there is also a significant [number] of buyers coming in from ASIA and they are competing very strongly.”

 

SA bullish about future
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Enter your email to receive the latest real estate advice and tools to help you sell.