Property in Adelaide's coastal markets "doesn't hang around too long": Rhys Digance, Belle Property Glenelg

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Jan 30, 2018

Property in Adelaide's coastal markets "doesn't hang around too long": Rhys Digance, Belle Property Glenelg

While prices of around $3,000 per sqm for waterfront land might not seem much compared with Sydney prices, they are very good values for Adelaide, says Rhys Digance of Belle Property Glenelg.

Image: LiZardboy via Pixabay. https://pixabay.com/en/jetty-summer-sunshine-coast-sea-380371/

Jetty at Adelaide's Henley Beach.

Adelaide's coastal property markets are growing in popularity, Belle Property Glenelg agent, Rhys Digance, told SCHWARTZWILLIAMS.

Properties that come onto the market, "don't hang around too long," he said.

"Coastal markets have been really good for 12-18 months," he said, adding that he has seen growth in prices over that time.

Digance said that though properties along the coast are mainly houses, there has been a growing trend towards demolishing existing homes and building duplexes or larger dream homes.

Ryhs Digance of Belle Property Glenelg has listed this four-bedroom waterfront apartment for between $1.3 million and $1.395 million. Source: Belle Property Glenelg.

"We're seeing a lot of homes on 650sqm, or even 550sqm blocks being knocked over," he said.

Digance said that recently there have been a couple of very big land sales, with people "battling" to get into the coastal market.

"They're not making any more if it (the land)," he said.

Digance said people are buying blocks of land for around $1.2 million, and then embarking on a $1 million-plus build.

While prices of around $3,000 per sqm for coastal land might not seem much compared with Sydney prices, they are very good values for Adelaide land, said Digance.

Adelaide's top coastal suburbs are Henley Beach, Glenelg, West Beach, Grange, and Tennyson, said Digance.