The boom in Australian property prices continues unabated, with significant rises recorded in all capital cities each month.

Posted in: Insights, News

22/07/2021

The boom in Australian property prices continues unabated, with significant rises recorded in all capital cities each month.

Adelaide saw yet another strong month, with data from Corelogic showing the month of June recording a median price growth of 1.6% and for the three months to the end of June a rise of 5.6%.

 

(Source: Corelogic).

 

Annual figures for Adelaide showed an incredible 13.9% rise. For investors, adding on a median gross rental return of 4.6% it shows a staggering 18.5% return on investment. Along with record growth of 24% in the ASX200 over the last 12 months, it has definitely not been a year to have your money languishing in a bank account.

Not since the last property boom nearly 20 years ago have we seen such enormous growth in property prices.

Continuing record low interest rates, a falling unemployment rate and a lack of stock on market are key drivers in a market where we are seeing around 1.2 properties selling for every one new sale listing.  If this trend continues, available stock on the market will continue to reduce and with continuing strong demand, prices will likely continue to rise at strong rates.

If you are a potential buyer in this market, one of the best ways to give yourself a fighting chance of securing a home is to have pre approved finance ready to go before you make an offer.  

A finance pre approval doesn’t cost anything other than a couple hours of your time to discuss your needs and go through the paperwork.

A Bernie Lewis Home Loans mortgage broker can guide you through this process and give you the best chance of securing your dream home.

Call us now on 8300 8300 or email us info@bernielewis.com.au.