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This type of article is typical real estate spruiking (talking up the market). The Advertiser and the main tv channel news programmes do this periodically. The article quotes an RP Data person saying property values are likely to end up 9% higher across the capital cities this year, but fails to mention that the annual change for Adelaide is only 1.5%, most of the 9% comes from the Sydney market having risen a whopping 14.2%, largely due to speculators (many from China) buying up big.
Why are the suburbs with the highest median value called 'winners'? Funny that they don't call the cheapest suburbs the 'losers' but the 'most affordable'. Any data based on such low samples (for example in some cases as few as 5 sales) is also statistically meaningless.
I would also question why rising house prices is seen as a good thing. Surely stable prices would be far better for everyone. Currently about 50% of all new mortgages are taken out by 'investors' (people buying 2nd/3rd homes as an investment) and there are fewer and fewer first time home buyers.
Backpacked round Australia 1992. Married Australian husband in Adelaide 1994. Lived in Adelaide 1994-1997. Moved back to UK & lived in Essex/Herts 1997-2009. Returned to Adelaide November 2009. 2 kids dual nationality.
When we were looking to buy a house I borrowed a book out of the library that listed all the suburbs in Adelaide and gave an opinion on them in terms of buying a house there and their long term investment potential and the pros and cons of the area, again you had to do a bit of reading between the lines as they were using similar words such as 'affordable', but you got the gist of what the book was saying.
Properties around us sell quickly (the last one for sale had an open inspection on Saturday and when we woke up Tuesday morning the sold sticker was up), a mixture of people buying as investment properties and private buyers.
Harcourts appear to be switched on to the Chinese investors looking for property...
Last edited by Jessica Berry; 29-12-2013 at 07:20 AM.
Oh, those 'bargains' in Smithfield Plains and Elizabeth Downs - not sure I can resist ...
Someone I know lives in Daveron Park, which is on the 'affordable' suburb list and they came home one day to find the area all taped off. Their reaction was 'what crime has been committed now', turned out they were using the street for the film Snowtown, they were looking for one of the worst houses they could find to use in the film!
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All i can say is watch some of the latest Documentaries on housing and crime in the Cities in the UK now!Adelaides worst areas are a mere cakewalk!