Property experts say it’s a “buyer’s market” in Adelaide.
Already the lowest-priced mainland property market in Australia, Adelaide is now even more attractive to local and interstate buyers.
Real Estate Institute of South Australia figures show Adelaide’s median house price finished 2010 at A$406,000 – a 5% increase on the previous December's price, but still much lower than the median prices for other mainland capitals.
In late 2010, the median Adelaide house price was more than $200,000 less than what you'd pay in Sydney and about $130,000 less than Melbourne, $50,000 less than Brisbane and Darwin, and $90,000 less than Perth.
Real Estate Institute of SA president Greg Nybo recently told News Ltd that "buyers are the winners" in Adelaide, where a steady market has included growth of about 30% in three years.
"That has been one of the great things about the South Australian property market it's a very safe market, without the big booms and busts," Mr Nybo said.
Read more about the South Australian housing market.
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