How will the US credit rating downgrade affect Adelaide’s real estate market?
WE are in the strongest part of the global economy, the Asia-Pacific, and our strength here, particularly in Australia, is far stronger than just about any other developed economy.
The International Monetary Fund (IMF) has strongly endorsed the Australian economy to be resilient throughout the crisis.
The IMF said the Australian banking sector remained strong and the Federal Government’s return to surplus was ‘‘more ambitious than earlier envisaged’’.
While the average super fund took a 5 per cent hit from the share market slump recently, residential property in Adelaide has been extremely resilient, with many suburbs recording growth over the past year.
As a result, it is evident that investors have returned to the property market, seeking assurance back in trusted bricks and mortar.
This mindset is likely to keep Adelaide’s real estate market resilient and stop us from experiencing such falls that have been seen in property markets throughout the US and Europe.