Thursday, June 08, 2017

Adelaide’s property market hits headlines again!

Our beautiful city of Adelaide has hit headlines again this week, recording the highest value growth in the nation over the past week, month and year to date! 

This information comes at no surprise for Team Toop, who have been experiencing huge buyer demand at our open inspections over the past month. These newly released stats confirm everything our team is feeling out on the ground at the moment - we are well and truly in a strong sellers market! 

According to CoreLogic's latest Hedonic Home Value Index report, home values in Adelaide rose by 0.8 per cent over the past week, up 0.6 per cent on the national average and ahead of Sydney and Melbourne. Adelaide's property values also increased by 1.5 per cent over the past month and recorded the highest value growth this calendar year too, with property values growing by 3.7 per cent since January.

Adelaide is sitting a significant 1.0 per cent above the national average of 2.7 per cent 
and we are now surpassing the value growth 
of Sydney and Melbourne.

So what does this mean for our local real estate market? It shows that Adelaide's steady and consistent growth is generating attention from interstate investors. Adelaide hasn't always been top of mind for national investors, who often look to the bigger markets such as Melbourne and Sydney, however this is rapidly changing and Adelaide is fast becoming a hot spot for people to buy. 

Although RP Data reports that Adelaide's listings are down 5.5 per cent across the marketplace compared to this time last year, for those who are selling, this shortage of stock is a huge advantage as it is driving prices up and properties are being snapped up quickly. 

This demand is not just for investment properties, we are seeing this through all market segments right now. For example, over the past week Team Toop has experienced exceptional results in the top-end of the market. We've had two prominent high-end 
properties sell in under a week, one in Burnside and the other in Unley Park. Last weekend this demand continued; within a 
48-hour window we saw 124 groups through 
82 Cambridge Terrace in Malvern! 

We are also continuing to see buyer urgency rise in the market. Over the last month, we had 612 brand new buyers register for our ToopVault service joining our existing 9,015 members. During this time, we have sent over 71,000 custom alerts to our Vault buyers showcasing properties that they are interested in, resulting in a significant number of off-market sales.

Team Toop will be maximising this long weekend for our clients and will be opening properties across the three days. This makes it 
as easy as possible for buyers to visit properties 
in conjunction with their weekend plans. So, look in The Advertiser on Monday for our additional long weekend open times, and talk to one of our team about how we can help 
you take advantage of these incredible market conditions to enhance your sale result.

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