New data from REISA supports recent ABS statistics showing continued net interstate immigration gains for South Australia, according to REISA CEO, Barry Money.

“The ABS numbers for the March quarter reveal that SA gained 650 people, the largest number in the forty years that the Bureau has measured that statistic. Over the same period, REISA data showed that interstate buyers of SA residential property jumped sharply too.”

“The even better news for the SA economy is that our data indicates that interstate buyers in SA residential property increased again in the June 2021 quarter by around 11 per cent. When compared with the June quarter last year, the number has more than trebled.

“In raw numbers, buyers from Victoria and NSW/ACT again led the charge, though larger percentage increases came from smaller bases in the NT and Tasmania. While there were reduced numbers from Queensland and WA buying in SA, the numbers are still higher than the average of the past nine quarters.”

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“REISA data also shows that buyers from interstate accounted for a greater percentage of all SA residential property sales. Through 2019 and 2020, these sales represented between 6.5 and 8.25 per cent of all buyers. In the March quarter this year, that percentage jumped to 11.37 and in the June quarter, to 12.8 per cent.”

“A solid proportion of these buyers would be investors, attracted by the great value and return from property here but we believe the more significant driver is the state’s continued inward migratory flow. Since we started these analyses as early indicators of the success of South Australia, REISA has stated that the appeal of the South Australian lifestyle, safety and turnaround in the economy have been the key driver.”

“Our figures represent returns from our member agents only and do not include all SA property transactions. But our data certainly demonstrates the attraction of property in SA – and certainly reinforces the narrative that South Australia is a destination of choice” Mr Money said.

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