All in all, it has been a wonderful time to be a homeowner. Not only does your home provide a roof over your head but the last twelve months performance has shown it to be a high performing investment.

Posted in: Insights, News

27/09/2021

How Much Money Did You Really Make Last Week?

The Adelaide property market has been going through one of the largest price booms in history, with the median house price skyrocketing over the twelve months to June.

Lack of stock on the market, nearly 30% below normal, and high demand from both local and interstate buyers has seen the Adelaide median house price over the twelve-month period rise by over 13% from $477,000 in June 2020 to $540,000 in June 2021.

If you owned a median priced home over that period, that would mean over $1,200 per week being added to your net worth.

Of course, those figures are the median figures, and depending on where you live, the increase could have been higher or lower. However, all areas across Adelaide recorded an increase over the period ranging from a low of 3.5% in the Holdfast Bay LGA to a high of 44% in the Adelaide Council LGA.

Those in the Adelaide Council LGA saw their median price rise from $900,000 to $1.3million, an incredible $7,690 per week. Contrast to those in the Holdfast Bay LGA who only scored $577 per week growth.

For those who owned a unit, unfortunately you didn’t fare so well, with only a 5.59% increase over the twelve-month period.

For those in regional areas, it was a real mixed bag with some towns going backwards while others had stunning increases. However, the results in many regional towns should be treated with caution due to low sales volumes over the period which can artificially skew the results.

All in all, it has been a wonderful time to be a homeowner. Not only does your home provide a roof over your head but the last twelve months performance has shown it to be a high performing investment.

Call Bernie Lewis Home Loans to speak with one of our mortgage brokers, 8300 8300 or email info@bernielewis.com.au