Rising market confidence across South Australia highlights residential opportunities
Australia's real estate market has grown significantly over the last few months, with regions seeing rebounds in figures up and down the country. The latest to join these ranks is South Australia, with the latest Property Council/ANZ Property Industry Confidence Survey illustrating the returning form of the nation's real estate market and indicating that now could be the perfect time to look into selling your property.
The Index saw an increase of four points in confidence for the upcoming September quarter, bringing the figure up to 114. This is the second highest recorded level for the state since the survey began and highlights a return to the figures seen at the beginning of the year. Property Council Acting Executive Director Lino Iacomella said growth across the region was evident and could be expected to continue well into the year.
"The recovery is largely based on expectations of continuing low interest rates, and the likely boost this will provide the land development and housing construction sectors. This is a leading index and we expect the real activity in the industry to actually pick up later in the year, probably in the lead-up to Christmas," said Mr Iacomella in a July 10 statement.
"The survey also picked up a strong improvement in sentiment in the retail, industrial, hotel and retirement living sectors. The commercial office sector is the only category that is not contributing to a positive outlook in industry sentiment. However even in the office sector the deterioration in sentiment has slowed and South Australia is now in line with the national index."
He went on to state the overarching improvements being seen in business expectations and growth indicate that the low point in South Australia's property market has been well and truly passed. Upward momentum has replaced the feelings across the market, allowing for people to begin flocking back to the fertile market.
If you're interested in purchasing residential property or taking advantage of the rising confidence and selling your home, now could be the perfect time to do this. With the population expected to rise in the coming years, securing a slice of the real estate market through investment could offer a number of potential benefits - including wealth generation.
Get in contact with a real estate professional in the near future to discuss the options available in South Australia and across the wider nation.