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Northern Adelaide Property Market Boosted By Investors

According to local real estate agents, the property market in Adelaide’s northern suburbs has been kept afloat largely by investor interest in the area, with investor purchases accounting for nearly half of all land and property sales in the past year. Century 21’s Salisbury principal Greg Nybo reports property investment is very strong in the north, accounting for up to half of the 300 allotments his company sold last year. The reason for the turnaround can be attributed to the fact that, as first-home buyers retreated from the market, investors moved in to fill the gap. They have been attracted by signs of the region’s future growth potential, such as the development of the Northern Expressway and the expansion of the Edinburgh Defence Precinct, which saw some 1200 soldiers and their families from the Royal Australian Regiment, 7th Battalion, relocated from Darwin to Elizabeth at the end of 2010.