SA MARKET OVERVIEW
SOUTH AUSTRALIA
TONY BEZUIDENHOUT - CEO, Residential & Commercial – CENTURY 21 SouthCoast
and gain expert analyses for a comprehensive understanding of the current state and future outlook of the South Australian regional real estate market. Thinking specifically about commercial and industrial property, where has the demand been coming from? South Australia’s Local Businesses and Startups growing economy has led to an increased demand for commercial spaces. Local businesses, including startups, seek suitable locations for offices, retail outlets, and warehouses. Manufacturing and Logistics Companies are attracted to the state’s strategic location and well- connected transport infrastructure. They require industrial spaces for production, storage, and distribution. The Renewable Energy Sector is a hub for renewable energy projects. Solar farms, wind energy facilities, and battery storage installations drive demand for industrial land. The emergence of tech companies and innovation hubs fuels demand for office spaces. Adelaide, in particular, hosts tech startups and research institutions. Investors seeking stable returns and developers eyeing growth opportunities contribute to the demand. They look for commercial properties with long-term lease agreements. Government policies and incentives encourage investment in commercial and industrial properties. These include grants, tax breaks, and infrastructure development plans. It’s important to note that demand can vary by location within South Australia. It’s essential to stay informed about market trends and consult experts to make informed decisions.
Regional real estate market saw a surge in activity and demand during Covid. How have these markets fared in more recent times? The South Australian property market has positioned itself as a lucrative and stable option for investors and purchasers alike. Here’s why: 1. Steady Price Growth: • South Australia’s property market has proven to be a reliable investment option, with consistent price growth for both houses and units across the state. • Property prices in Adelaide (the state capital) and regional markets have seen impressive increases, fueled by various buyer types: first homebuyers, upsizers, downsizers, and investors. 2. Robust Economy: • The state’s economy plays a crucial role in supporting the property market. • South Australia has experienced a steady rise in population and Gross State Product. • Despite the challenges posed by the COVID-19 pandemic, the state has avoided significant economic repercussions. 3. Impressive Growth in Regional as well as Metropolitan Areas: • Motivated regional purchasers are engaging in areas like Port Lincoln, contributing to heightened demand. • Regional South Australia has seen a solid rise, breaking records for median house prices. South Australia’s property market shines as a beacon for those seeking opportunities for growth and stability. With record-breaking prices and impressive growth. However, its pertinent to consult up-to-date market reports
TONY BEZUIDENHOUT
88 – April / May 2024
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