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Adelaide can expect modest gains

Adelaide will be largely flat but could see small increases in house prices.
<p $$hash="6847-0"><span $$hash="6864-0">The Adelaide property market can expect modest gains in the next few years, but low economic performance will continue to have an impact on prices.

<p $$hash="6885-0"><span $$hash="6886-0">The latest Australian Property Monitors (APM) data showed that house prices were up 0.4 per cent in the year to January, but units down by 5.2 per cent, according to the Property Observer.

<p $$hash="6883-0"><span $$hash="6884-0">It quoted the APM report as saying: “The Adelaide housing market can look forward to modest price growth for 2013, with all indicators pointing to a slight improvement.”

<p $$hash="6881-0"><span $$hash="6882-0">Both types of dwelling recorded gains in the quarter to January of 1.5 per cent, median house prices in Adelaide are now at $438,000 and the price for the average unit is $276,000.

<p $$hash="6850-0"><span $$hash="6849-0">It follows the latest quarterly results from RP Data-Rismark’s home index which showed that house prices across the country have risen by 2.8 per cent.

<p $$hash="6880-0"><span $$hash="6879-0">That report suggested that house prices in Adelaide dropped by 0.5 per cent, despite rises elsewhere.

<p $$hash="6877-0"><span $$hash="6878-0">Posted by Steve Douglas

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