Housing Prices Set to soar on the East Coast – What that means for South Aussies!
What’s going to happen in South Australian house prices in 2020?
With the Australian economy set to be on the rise in 2020 house prices in Sydney and Melbourne are set to increase by up to 15%. South Australian prices are set to follow the same direction but at a slightly more conservative rate.
With steady growth projected into early 2020 in Adelaide and Greater Adelaide (That includes the Hills and Alexandrina districts), we are geared up to see the perfect setting to achieve the best possible sale price for your home.
According to CoreLogic data – the go-to source for all Real Estate Agents, and investors across Australia – South Australia will see a much more steady rise than the Eastern capitals. While we are unlikely to see price hikes as much as 10-15%, a growth of 5% is expected in 2020, which means an extra $15-20k in your pocket.
How long are we likely to see prices climb?
As we know what goes up, must eventually come back down. While the steady market rise is a welcome relief after a low couple of years economists warn against waiting too long to put your house on the market. Most experts expect the growth to last up until 2021 but waiting too long to put your house on the market could mean the window for high prices is closed, and won’t be back for 5-10 years.
Right now the median house price in Strathalbyn is $360,000, but how does your stack up in the current market – call Peter for a free appraisal