News

Housing statistics provided by RP Data Core Logic show that housing prices across the country (excluding Hobart) all continued to see a slight rise over the March quarter.  Adelaide saw an increase of .3% bringing the annual growth rate to .9% and 2.2% over the past 5 years.
 
The question we are all asking is how will COVID-19 affect housing values?  Will we see a decrease in prices, or an increase? 

Historically, RP Data statistics show that that during previous global crisis such Black Monday and the GFC, housing prices in Adelaide remained firm, while in comparison equity markets took quite a hit.  What we did see however was the number of housing transactions during these crisis taking a big dive - down 39% after Black Monday and down 23% after the GFC, before making a strong recovery.

Analysts are predicting the same decline in the number of housing transactions post COVID-19 due to a decline in consumer confidence, a rising jobless rate and more cautious consumer lending.  The good news is, housing prices are predicted to remain firm due to factors such as government stimulus packages, lenience from lenders for mortgage repayments and record low interest rates all assisting to limit the number of distressed properties hitting the market.

Click here to see the full Core Logic Market Wrap for Adelaide