Adelaide property market still dormant: Moody's Analytics

Adelaide property market still dormant: Moody's Analytics
Adelaide property market still dormant: Moody's Analytics

Adelaide’s housing market has remained dormant when compared to the rest of the country with detached-home values rising only 12 percent since 2013, according to CoreLogic-Moody’s Analytics Australian Home Value Index Forecast, 2017Q1.

The report said South Australia’s uneven economic momentum can be attributed to the cool state of Adelaide’s market.

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Adelaide property market still dormant: Moody's Analytics

"Detached-home values have risen only 12 percent since 2013, while apartment values have increased a slight 2.3 percent," it said.

"Unemployment of 7 percent in greater Adelaide is well above the national average, although it has trended down from 7.8 percent in late 2015.

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Adelaide property market still dormant: Moody's Analytics

"Detached-home values are forecast to remain relatively flat, rising 0.9 percent in 2017 and 0.5 percent in 2018.

"Apartment values are expected to decline a little, by 0.1 percent in 2017, with a mild recovery of 0.5 percent in 2018."

Tags: 
Adelaide Residential Market

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