According to the latest report by Raine and Horne, the Adelaide housing market is experiencing increased demand under tight supply conditions – a perfect recipe for price growth.
James Trimble, Managing Director of Raine & Horne, said the "amplified" interest in real estate can be attributed to the border closures.
"With many people staying in South Australia for summer vacations due to limited access to other states, the state's property markets have continued to expand. snap, ”he said.
Trimble said agents at Raine & Horne have reported keen interest from aspiring buyers, as evidenced by the long lines at the opening for inspections. He said this level of buyer survey was "very unusual" for Adelaide.
For example, a home on the Aldinga Beach list, priced from $ 420,000 to $ 440,000, attracted 79 interested buyers to its first open home.
"This level of interest is a significant result for Adelaide real estate and the broader South Australian real estate market, as these markets typically take a Christmas break. and in January, ”Trimble said.
A three bedroom house from the 1960s in Linden Park also caught the attention of many buyers. About 200 potential buyers have inspected the home and 74 have made offers. The property sold for a significantly higher price than the original asking price, said John Cullen, local manager of Raine & Horne Kurralta Park.
"When the property went online it immediately attracted 3,500 visits generated by our Amplify social media campaign. We then hosted 80 groups on Saturday, 45 more on Sunday, the rest attending a party. open mid-week. ”he said.
Trimble said that while demand for properties in Adelaide remains high, supply continues to decline. According to his estimates, property listings in Adelaide declined 20% in January on a yearly basis.
"A lack of supply in an environment of robust demand has the potential to drive values ??up to 5% to 8% in 2021," Trimble said.
Market figures from SQM Research show similar results, with real estate listings in Adelaide declining in January by 0.1% on a monthly basis and 15.9% on an annual basis. During the month, house prices in Adelaide rose 2.8% for houses and 4.6% for units.
Top suburbs:
campsie
,
Glendenning
,
Darlington
,
Geelong West
,
Midland
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