Among the capital cities, Adelaide’s property market is well placed to emerge from the shutdown with prospects of growth, for the 10 reasons below:
- Before COVID-19 Adelaide was one of the leading capital city markets in the nation with the best prospects for growth.
- Adelaide outranked Melbourne and Sydney for the number of suburbs with rising sales activity.
- Adelaide is one of the nation’s most consistent property markets.
- Adelaide had a very low rental vacancy rate heading into the shutdown period.
- Even with the recent influx of new properties seeking tenants, its vacancy rate is still just 1.2%.
- The city’s economy is in a strong position to recover well from the shutdown period.
- Adelaide is the high-tech innovation capital of Australia with South Australia leading the nation in alternative energy.
- Adelaide is well placed to benefit from the likely revival of manufacturing resulting from the virus crisis.
- Adelaide has strong educational and medical sectors.
- The Adelaide state government is spending significant amounts on infrastructure with plans to fast-track “shovel- ready” projects to lead the economic recovery.
This content is extracted from Property Observer | Adelaide property market to emerge strong from COVID-19 shutdown | by Terry Ryder |18 May 2020| Click here to read the full article.