Thursday, January 14, 2016

Experts have South Australia tipped as a winner in 2016!

2016 has started off strong in our property world! Last weekend was the first official weekend of open inspections and it kicked off with a solid attendance across the board.

Team Toop had 357 groups through our inspections and 24 new property releases this week! With buyers circulating and brand new stock hitting the market, we expect to see even more buyer groups out and about this weekend.

Nationwide the big real estate questions circulating at the moment are: What are the predictions for our property market? Where are the hot spots this year? Has our market peaked? 

The fantastic news for South Australia is that the experts have predicted that this year we are likely to see the property market even out, and become more consistent nationally. The large growth that Sydney and Melbourne saw last year is predicted to not just halt, but fall in line with the rest of the states. 

Cameron Kusher, Senior Research Analyst at CoreLogic RP Data, has predicted that while Sydney and Melbourne's growth is expected to either decline or slow, South Australia is likely to continue building on last year's 3.2% growth and is anticipating a steady moderate increase around 2.5% this year!  

This is fantastic news for sellers and buyers and provides great confidence when making such significant decisions. On the ground our team is seeing signs of confident buyers with strong activity and sale results already this year. 

Our market is being recognised nationally for our great investment conditions. Suzannah mentioned the North West last week, and we are also finding that holiday homes are taking off this year. With everything that has been going on in the world, Australians are wanting to holiday locally. 

Combining these predictions with digital disruptors such as Airbandb, who are making it very easy for people to rent their homes as casual short term letting - holiday homes are a market looking to go to another level again in terms of growth this year. 

Locally, we are already seeing this starting to happen in key holiday areas. RP Data recorded properties on Hindmarsh Island had a huge growth of 11.5% in the last 12 months and 22.5% in the last three years! In 2015 Goolwa North property prices rose 7.7% and Encounter Bay grew by 4.4%! 

It is exciting to see South Australia in the spotlight nationally for the potential our property has to offer! With the market off and running, now is a great time to get into the real estate market and make the most of our local opportunities!

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