The growing property market in Adelaide is something for investors and homeowners to get excited about, as property prices continue to rise. With house and unit prices increasing by 4.6% and 3.9% respectively over the 12 month period, real estate fees could follow historical trends and decrease, owing to the higher values. The bustling, industrial docklands of Port Adelaide are continuing their spurt, with median house prices hitting $440 thousand over the year. Meanwhile, surrounded by Adelaide Oval, North Adelaide Golf Course and the Adelaide Aquatic Centre, metropolitan North Adelaide has found a highest price paid of $3.35 million within the year.
Real estate fees are decided through supply and demand in the free real estate market, as South Australia, and thus Adelaide, is unregulated in that regard. Torrens Park, south of the CBD, encompasses the prestigious Scotch College Adelaide, and tends to have lower real estate fees, due to relatively high property prices and a greater number of competing agents, typical of metropolitan areas. Interestingly, much further south, in the rural brooks of Huntfield Heights, real estate fees are generally higher, as fewer agents and lower property prices means agents often need to take a larger cut.
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