Southern Australia has been experiencing a high population growth over the past years. This is partly due to an increase in employment opportunities and mainly because of the region’s growing appeal.
The region currently holds just under 1.3 million people and has been experiencing shallow strata vacancies. Because of these reasons, it has enjoyed higher growth in the market for property development Australia over the past few years. This article shall highlight some of the most popular towns and regions for home sales in Southern Australia.
Kangaroo Island
Kangaroo Island is situated South of Adelaide and enjoys a large population, second only to the capital. The island is trendy for tourism, attributed to its abundant wildlife. The summers are warmer than surrounding regions, but the weather remains mild throughout Spring and Autumn due to its proximity to the mainland.
Houses in Kangaroo Island generally sell for a higher price than surrounding towns. This is due to the lower supply and increased demand. Many investors have been buying up holiday homes and constructing new housing developments, increasing property prices.
Barossa Valley
The Barossa Valley is a wine-growing region located North of Adelaide, in South Australia. Its slogan is “A Rich Place to Live,” which speaks for lifestyle living. The climate in summer can reach highs of 40 degrees Celsius, but autumn and winter months are mild with little rainfall. Because of this, the region is excellent for those who like to golf, hike or be outdoors during summertime.
As with most wine regions, it has experienced a high level of tourism over the past years, leading to increased property prices in the area. It is an ideal place for families, retirees, and professionals alike.
The Barossa Valley is a popular place for homebuyers to purchase an investment property in the area because of its location and low vacancy rates. Prices generally start from around $225,00.
Hahndorf Hill Estate
Located in Adelaide’s Hills region, Hahndorf Hill Estate is one of the most popular regions for homebuyers to purchase an investment property. The suburb is quaint, with population growth rates not exceeding 40 people per year. Due to less supply and greater demand, property prices have recently increased.
Hahndorf Hill Estate offers spectacular views of many of the hills in the area. Adelaide’s convenience makes it an excellent place for commuters and families looking to move house.
Normanville
Normanville is a coastal suburb located roughly 30 kilometres from Adelaide, South Australia. Due to its coastal location, it’s filled with beaches and picturesque landscapes, making this a popular place for retirees and families alike. Because of the large population in the area, property prices have risen since 2010.
Normanville is a popular place for retirees and families to purchase investment properties. Many houses in the area are newly built, meaning it has low vacancy rates, making them perfect for real estate investors.
Mt. Barker
Mt. Barker is a popular place for families and professionals to move into. It experiences warm summers and mild winters – ideal for those who like to golf year-round. The proximity to Adelaide makes it an excellent option for commuters, and there has been an increase in the number of families residing in the area over the past few years due to this.
The village has seen a significant increase in population, resulting in an increased demand for housing, leading to a rise in property prices throughout Mt. Barker. Due to this, it is a popular place for homebuyers to purchase investment properties.
Conclusion
The property development industry in Australia has soared. The regional price comparison for those looking to buy an investment property is that Kangaroo Island is more expensive than surrounding areas. But if you are alright with a bit extra on your investment, the place might be perfect for you.
