I've also noticed in a couple of the suburbs I've been watching in Adelaide, that the properties that have sold for quite a low price for the suburb, have completely disappeared from the sold section on realestate.com.au The ones that I was watching were listed as sold in April & then disappeared. So if you weren't following that particular property you would never know that some in that suburb were selling for a lot lower. You can look them up on 'onthehouse.com.au to see the price & date though
Are the suburbs closer to the outskirts doing worse on Rentals and/or Buy/Sell Prices ? Up North - Smithfield, Elizabeth, etc. Down South - Reynella, Noarlunga, Morphettvale ? There seems to be sales - just curious to see if the number of listings have dropped/increased and if there is any impact ?
I have been submitting offers in some of the suburbs you mention and not having much luck. Definitely a sellers market and not a lot of stock available. Will there be more listings in spring perhaps? Maybe. Rental market is very tight.
I know a couple of people house hunting in the FHB price range, i.e. $300-450k. Southern/coastal suburbs. Quality properties are going quick, multiple offers, sold over asking range, etc.
Adelaide property values rise during lockdown despite sales slump - InDaily “It could be because of a significant lack of listings in the marketplace but demand is still outstripping supply.”
Adelaide house prices reached a record high this quarter: Domain “Adelaide was one of only three cities to record house price growth over the June quarter, along with Hobart and Canberra. While it was a modest 0.2 per cent lift, this has pushed house prices to a record high of $553,036"
Been looking for a PPOR for around 6 months now and agree. Demand far outweighs supply! Anything in our range/ suburbs is gone within a week or two
Adelaide Q2 figures: Metro median house sales - data.sa.gov.au Big jump for my home suburb Salisbury hts..
Thanks for the link. In 2Q 2019 there were 4556 sales with average $619,969. In 2Q 2020 there were 3923 sales with average $627,936. The amount of sales throughout the market has dropped by about 14% but the average price has increased by about 8k. Average for the Salisbury Suburbs (Salisbury, Downs, East, Heights, North, Park, Plain) increased from 315k to 330k.
We still have the very highest overall unemployment in Australia, just beating WA 8.8% to their 8.7%: https://lmip.gov.au/default.aspx?LMIP/LFR_SAFOUR/LFR_UnemploymentRate According to Core Logic we are also the only capital city that has managed to maintain a modest increase in prices for the last quarter. Kinda counter-intuitive really.
I find Adelaide to be more resilient than other cities - since our median rent is lower, even those who are unemployed can still afford it, therefore our market has continued on as is. Unfortunately some people find themselves in some unique circumstances during these times, but they still need a place to live. I'm seeing multiple applicants for every rental property recently.
SA property market retains ‘resilience’ despite total sales hit Top 6 performing suburbs from the above data set: These were listed as: 1. Glenelg East 2. Somerton Park 3. West BeachWest Beach, SA 4. Blackwood 5. McLaren Vale 6. Salisbury Heights
SA's unemployment rate drops as nation records more than a million jobless - InDaily "South Australia’s unemployment rate, the highest of all the states and territories in June, fell to 7.9 per cent" "recent ABS wage and payroll data had shown positive signs, with SA recording a 2.4 per cent growth in wages to June – the equal highest rate in Australia."
Hi All, Sorry to be a pain. I used to post on Sommersoft but didn't move over when it ended. Apologies for being cheeky but wondering if there was anyone here with RP Data access to SA? After sale price and date last sold for 54 Eton St, Malvern SA. I'd really appreciate it if someone could have a quick peak and PM me. Fezro.
Free webinar on the Adelaide market this evening from Pete Wargent and a local buyers agent that may be of interest to those considering buying in Adelaide: ADELAIDE - Buyers Buyers Market Update
Little bit of interesting history here (well I think so anyway): During the last recession, the unemployment rate Australia wide peaked at 11% in 1993. Adelaide's established house prices changed: 1992-1993 +3.4% 1993-1994 -0.9% 1994-1995 +2.4% Maybe history will repeat. Maybe not. https://www.ausstats.abs.gov.au/aus...96E0A93CCA25722500073971/$File/64160_1295.pdf
That reminds me I want to go visit Adelaide when this pandemic is over. I went there three times nearly 15 years ago and vaguely remembering some market in town that was kind of cool.
