Adelaide’s outer southwest suburbs, some beachside locales and a popular Yorke Peninsula tourist town are among the areas house hunters are being urged to consider buying property in to get the best bang for buck.
The much anticipated Hotspotting Price Predictor Index (PPI) Winter Edition has been released, showing which suburbs are now ripe for price growth picks – thanks to steady increases in sales volumes over more than four consecutive quarters.
The report has named SA localities Ascot Park, Flinders Park, Hove, Glenelg, Morphetville, and Wallaroo among Australia’s top 50 supercharged suburbs, with the average house price ranging between $420,000 and $1.6m and $472,000 and $600,000 for units.
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Hotspotting Director Terry Ryder said history showed a correlation between sales volumes and price movements.
“The number of sales changes first and then prices react – with a time lag,” he said.
“This is true whether markets are rising or falling and means that investors can buy ahead of price growth, by finding locations where sales volumes are rising but prices have not yet moved.”
In the latest research, New South Wales leads the charge with 26 suburbs making the cut, with 10 suburbs in Victoria, six in South Australia, five in Queensland, and three in the ACT.
This time last year, Western Australia had more than a third of all supercharged suburbs but failed to secure one entry this year.
Hotspotting managing director Terry Ryder. Picture: Supplied
Hotspotting General Manager Tim Graham said Adelaide and regional SA continued to be two of the nation’s most promising markets, including Glenelg.
“Adelaide sales activity is 8 per cent higher than a year earlier, despite a 12 per cent annual decline in listings of properties for sale,” he said.
“Generally, the Adelaide market is displaying the consistency that has made it a national leader on price growth, with 31 per cent of its suburbs recording positive ratings in our latest research.
“Glenelg has recorded five consecutive quarters of rising sales volumes, with the suburb home to Adelaide’s most popular beach, which attracts visitors because of its historic jetty, waterfront cafes, restaurants and boutiques.”
SA’s Supercharged Suburbs
Source: Hotspotting
Ascot Park
Houses: $760,000
Units: $492,500
Flinders Park
Houses: $890,000
Units: N/A
Hove
Houses: $1.305m
Units: $560,000
Glenelg
Houses: $1,612,500
Units: $600,500
Morphetville
Houses: $779,500
Units: $472,000
Wallaroo
Houses: $420,000
Units: N/A