Contrary to the current worldwide trend that has seen most markets falling, the Australian property market is reportedly moving on a positive note. According to a recent report, property prices in Adelaide have increased strongly in the last one year.
At the same time, the entire country is marked by affordability of property and prices are still largely considered to be bargain ones compared to other major markets across the world. The recent rate cut by RBA and the new initiatives announced by the government have also boosted demand for property in the country.
According to figures released by RP Data Australia, real estate agencies across the country have reported an increase in the number of enquiries, especially for properties in the lower-priced segment. The figures also show that prices of property in Adelaide have jumped the highest ? 7.8 percent in the 12 months to September 30. Despite this jump, Adelaide also continues to have the most affordably priced properties for any mainland capital city in Australia.
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