PHOTO: The McLaren Vale property at 20 Chapman Ave is on the market with a price guide of $495,000 to $525,000. Pic: realestate.com.auSource:Supplied
Buyers who snap up property in South Australia’s wine regions now will be drinking in the benefits in years to come.
Homeowners in South Australia’s renowned wine regions are tipped to be toasting the success of their fruitful property purchases in years to come.
New research by national advisory firm Propertyology shows they are already drinking in the benefits in the Barossa and Fleurieu/Yankalilla areas, with property price growth outperforming Sydney’s market.
The Barossa, which had a median property value of $352,000, recorded 0.4 per cent growth in the year to October 2019 and 3.5 per cent in the three years ending 2019.
The Fleurieu/Yankalilla area, which had a $370,000 median property value, notched 8.8 per cent and 7.2 per cent respectively.
It was significant growth in comparison to Sydney’s 5.8 per cent decline in the year to October 2019 and 2.3 per cent growth in the three years ending 2019 to a median of $900,000.
The two regions’ average annual capital growth were on par with Sydney’s when analysing the past 20 years.
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