Thursday, November 02, 2006

2 million...... just another sale

Despite the residential market entering uncharted waters, there have been some remarkable sales including a number of sales in the two million dollar range in Adelaide.
It seems a two million dollar sale is just another sale these days. Areas such as Golden Grove and Port Adelaide have stepped up to become noticed, recording some impressive results.
Port Adelaide with its Newport Quays development has recorded 40 one million dollar plus sales, in just 14 days in stage 2, Marina Cove, and were left with a long waiting list of buyers. The entire development has sold a staggering $90 million plus sales in over 4 weeks. Now that is a statement to the Adelaide market. This makes for over $200 million already committed to the overall Port Adelaide development and demand is still building.
The development company Urban Construct have also had six three million dollar sales and 32 two million dollar sales over the last two years. Two of those sales were contracted at $3.8 million and once you include the building extras will settle well in excess of $4 million.
Pockets of the traditional residential market have been equally as exhilarating. We have had three two million dollar houses sold/purchased in three days. September was Toops biggest month of sales in 21 years. It is not a boom but there is so much activity at the moment.
In an uncertain environment, Adelaide is still looking good. Buy confidently.
Happy House Hunting!!!

Anthony Toop, Managing Director.

© Toop Real Estate Group

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