Adelaide’s Eastern suburbs have seen a steady rise in house prices over the past five years. The region has seen growth across all property types, but detached houses are amongst the highest performers.
Recently released figures from the Real Estate Institute of South Australia (REISA) show that the median house price for the Eastern suburbs area has risen by an average of 8.1% per annum over the past 5 years. This is well above the 5.3% average increase across Adelaide’s metropolitan areas.
The bolstered performance of the Eastern suburbs has been attributed to a number of factors, including the area’s proximity to the city and beach areas, which makes it an attractive place to live, as well as the local infrastructure and educational facilities.
Recent trends point to a slowing of house price growth in the Eastern suburbs, with a 1.8% drop in median house prices between December 2018 and March 2019. Despite this, the area is still performing significantly higher than the metro average for both houses and units.
For potential buyers, the Eastern suburbs offer a range of different housing options and price points. With its attractive combination of lifestyle, amenity and access to key infrastructure, the region continues to be a popular choice amongst both families and investors looking to enter the market.
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