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Revealed: How SA house and unit prices have changed since the last federal election | Search prices for your electorate

House and unit prices in some SA electorates have increased by more than 35 per cent since the last federal election, data shows. Search prices for the seat where you live.

Are prices set to peak in 2022?

With less than five weeks until the nation goes to polls, new data has underlined how housing affordability will continue to be an issue for the next government in power.

Latest PropTrack data shows all the federal seats in SA have seen price hikes over the past three years, making it tougher for those looking to get their foot on the property ladder.

Kingston, Mayo, Spence, Boothby, Hindmarsh and Makin have all recorded big gains in the state since the last federal election with more than 30 per cent price growth.

House prices in Mayo, currently held by Centre Alliance party, have risen by 40 per cent. The electoral division – it includes the Adelaide Hills as well as Fleurieu Peninsula and Kangaroo Island – has recorded unprecedented growth.

According to PropTrack economist Angus Moore, the Adelaide property market has risen in demand in the last few years and especially during the course of the pandemic.

“With proximity to the city no longer a driving force for house hunters, homes in the hills and coastal suburbs have been much sought after,” Mr Moore said.

“It has become more apparent in electorate seats such as Mayo where buyers have been looking for homes in places like the Barossa which wasn’t the case say two years ago,” he said.

“We have also seen increase in the premium people now place in owning larger dwellings. Not surprisingly, larger homes with three to four bedrooms have sold faster than smaller houses since the last polls.”

Elsewhere, buyers looking for a home in the Kingston constituency, a Labor-held seat, would now have to pay $143,000 more than those who bought before the last federal election.

Units in Kingston, which includes suburbs in Adelaide’s outer metropolitan area, also recorded the most spike with a 16 per cent increase in prices, the data reported.

There were also rises of 27 per cent in the Sturt and Adelaide electorates.

According to Lachlan Turner, managing director at Turner Real Estate, price growth has been consistent, especially in the last 18 months across all regions in SA.

“We have seen jaw-dropping sale results and those high prices are still holding up,” Mr Turner said.

Roy Fischer and his daughter Claudia at their home, 4 Giles Ave in Glenelg. Pic: Matt Turner.
Roy Fischer and his daughter Claudia at their home, 4 Giles Ave in Glenelg. Pic: Matt Turner.

“While property was a hot topic in the run-up to federal elections in 2019, it’s not the case this time around.

Last election, everyone thought the Labor party would win and change the rules to negative gearing. That had a massive effect on real estate – it slowed down the market as most sellers held on to their properties.

“This time neither parties have made any strong statements around real estate and it seems Adelaide’s property market will continue its show of strength.”

House prices in the closely contested electorate of Boothby have also recorded 34 per cent growth making it ideal for sellers to list their homes on the market.

Glenelg resident Roy Fischer who has listed his six-bedroom home on 4 Giles Ave is “pleasantly surprised” by the increase in house prices.

“It seems like a good time to sell and demand for a good family home in a location such as ours is high,” Mr Fischer said.

Original URL: https://www.goldcoastbulletin.com.au/property/listed-sa-property-price-growth-since-last-federal-election/news-story/8064a5e4bbc43d1c573d5b51fe0595a0