Thursday, January 05, 2017

Goodbye 2016... Hello 2017!

We have launched into 2017 and it's looking to be an exciting time for real estate. In 2016 our capital city property values surged 10.9% and this growth trend is showing great signs for the year ahead.

A new year always sparks some of the big real estate questions... What are the predictions for our property market? How will Adelaide perform compared to the rest of Australia? Where are the hot spots going to be? And, has the market peaked?

The great news for South Australia is that the research experts have predicted a very healthy start to the real estate season. It is expected that Adelaide will continue to compete on a national scale, as buyers are attracted to the consistency of our marketplace and the stable growth it is providing.

CoreLogic RP Data reported that in 2016 Adelaide house prices increased 4.2%. Our rental market also performed solidly with the average rental yield for 2016 sitting at 4% for houses and 4.7% for units.

Last year Adelaide received significant media attention and was recognised nationally for our excellent investment conditions. Suburbs such as Norwood, Prospect, Walkerville, Mile End, Thebarton and Brompton were mentioned as hot spots for national investors, and are tipped to rise to another level again this year. We expect to see an even larger number of interstate investors looking to our city in 2017. This is fantastic news for Adelaide sellers and provides assurance when making such important decisions.

On the ground Team Toop are seeing continual signs of confident buyers. The momentum we experienced in November and December has seamlessly flowed into the new year, with our buyer enquiry staying strong over the holiday period. We have been receiving enquiry from new buyers entering the market, as well as existing buyers who are keen to resume their property search. They have experienced the lack of stock currently available in Adelaide, and how this has made purchasing a property very competitive, and are eager to secure a property as soon as possible. Local developers and interstate investors are still showing strong interest, and we are also seeing an influx of interstate executives relocating to Adelaide entering both the sale and rental markets. 

This week our team has been busy meeting home owners who are either looking to take advantage of this current buyer demand, or who would like more information about their particular suburb, and insights into exactly what this spotlight on Adelaide means for their home, and its potential value.

We love real estate, we love our city and we are excited about Adelaide property in 2017. January is a fantastic time for real estate. Buying conditions are great, and people have more time to explore and search for homes during the holiday break. While many are still in holiday mode, Team Toop are well and truly back into it, and we look forward to meeting you at our open inspections this weekend!

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