Enthusiasm for Australian property is continuing in the south of the country, in particular coastal areas.
This is according to new statistics on the market from RP Data, which show real estate prices in popular sites by the sea in South Australia are witnessing house prices surge.
Examining Australian property prices, the real estate sales analyst discovered the Yorke Peninsula has seen a sharp jump in values, with North Beach up by 28 per cent and Wallaroo by 23 per cent, Cameron Kusher, a research analyst for RP Data, told the Herald Sun.
In addition, president of the Real Estate Institute of SA Greg Moulton told the news source: "Metropolitan coastal areas have shown good growth in the past five years, but areas further out have been undervalued."
In a blog post on the Australian housing sector, Tim Lawless of RP Data pointed to figures published by the Reserve Bank showing that supply-side constraints within the industry in the nation's capital cities include the complexity of the current planning process leading to uncertainty, and the need for greater provision and funding of infrastructure.
He also noted the organisation pointed to land ownership and geographical constraints, as well as public attitudes towards infill development, as hurdles to be overcome in order to increase and encourage new construction projects.
Posted by Ravin Chatlani
