Welcome to our latest update, where we dive into the vibrant world of real estate on the stunning Fleurieu Peninsula. Amidst the challenges of the past year, the property market here has not only weathered the storm but thrived, reflecting the enduring appeal of this picturesque coastal region. It seems that South Australians are still returning back to their roots, drawn by the allure of the Fleurieu Peninsula. Whether it's for retirement bliss or the newfound flexibility of working remotely, professionals and families alike are rediscovering the joys of coastal living. The influx of returning locals, alongside a wave of younger families investing in holiday homes, has reshaped the demographic landscape, injecting fresh energy into the community. One of the defining features of the Fleurieu property market is its fast pace. Desirable properties fly off the shelves, with low stock levels driving competition among eager buyers. While fixer-uppers may take a bit longer to find their match, the overall trend is clear – if you spot your dream home, you better act fast! Like anywhere else, fluctuations in interest rates have left their mark on the market. However, the prevailing sentiment suggests stability or even potential rate reductions on the horizon, keeping the wheels of the property market turning and inquiries flowing. For those looking to dip their toes into the property market waters, seasoned advice is worth its weight in gold. Listening to the wisdom of experienced agents is key, as they help navigate the ebbs and flows of the market. While off-market sales might seem like a shortcut, they often come at the expense of maximizing your property's value – a conversation worth having with your trusted advisor. As the Fleurieu Peninsula continues to grow and evolve, so too does its infrastructure. From new shops to medical centres, the landscape is changing to meet the needs of residents old and new. With growth projections on the rise, it's clear that larger infrastructure changes are on the horizon, shaping the future of the region. For sellers, now is a prime time to make your move, with demand high and competition being strong. Meanwhile, buyers can find their slice of paradise with the help of Elders' expert sales staff stationed across the Fleurieu Peninsula. Whether you're eyeing Victor Harbor, Willunga, Strathalbyn, Normanville, or beyond, Elders Fleurieu, Hills, and Vales are here to make your property dreams a reality. In conclusion, the Fleurieu Peninsula property market is a bustling hub of activity, fuelled by a potent mix of demand, limited supply, and boundless natural beauty. Whether you're in the market to buy or sell, seizing the moment with expert guidance ensures a smooth journey in this exciting real estate landscape.Roger SmithOver 17 Years as an AgentExtensive knowledge of the Fleurieu PennisulaAvid GolferHusband to Deb, Father to Amy 10 & Charlie 9Monster Car Enthusiastic 

In reference to the REISA produced Panorama insight into the September Quarter South Australian Property Market Update the following figures are presented. Interesting figures for the State House Market moved by 2.4% up for the quarter and 12month change 11.11% up. The figures for Victor Harbor House Market moved by 8.81% up for the quarter and 12month change 15.88% up. Have interest rate rises impact the market in the area? I would say yes, in the urgency to purchase side, it has slowed slightly. Volume of properties have increased slightly but sales are keeping up with the number of properties listed. Pre release sales, “off market” are being advertised as a way to sell by some agents but I still believe properties need to go to market to achieve the best price as we are still in a market that is showing solid growth. Rental properties are still in high demand so investors are still buying properties in our lower price ranges. We are seeing an increase in activity through the holiday home market as the temperatures start to rise. Middleton, Goolwa Beach, Hindmarsh Island Port Elliot and all the Victor Suburbs hvae had an increase in numbers to open inspection for lifestyle and holiday homes. In in all, I believe we will have a great summer and the market is staying strong which is good for all our home owners. Roger SmithOver 17 Years as an AgentExtensive knowledge of the Fleurieu PennisulaAvid GolferHusband to Deb, Father to Amy 10 & Charlie 9Monster Car Enthusiastic 

Over the past 20 years selling in the area, I have seen many methods of sale that have been successful and unsuccessful at certain times. Auctions on the Fleurieu don’t have a high clearance rate and have only been successful for high end properties, some rural properties and perceived bargains, Mortgagee sales for example. Expressions of Interest/Tender is fine for larger farm/rural properties and some commercial properties. This method is used more as a tool to gauge the market when the market indications are broad. Private Treaty/Fixed Price/ Price Range. These methods have been used a lot over the past 20 years for normal properties on the Fleurieu. It is where the vendor indicates, through the agent what their price expectations are. Purchasers make an offer, and that offer is negotiated between the parties. The range can never be larger than 10% on residential properties. “Best Offer By” Since COVID this method has been used by a lot of agents as the market was moving at a pace where the vendors and agents did not know how high offers would go. Low stock, high demand moved the property market on the Fleurieu at a pace not seen before. Time on market shrank to only days or at the most a couple of weeks. As a result of the above activity purchasers became a focus for some agents and a large number of properties started selling off market. Is this “Good” or “Bad”. Circumstances will dictate this. An agent’s job is always to represent the Vendor/Vendors. We are not contract to service by purchasers unless we are operating as a buyer’s agent. With this in mind, the vendors needs and requirements should always be our focus to ensure we achieve the best result we can for the vendors. An example where an “off market” sale being a good thing is as follow:If the vendor has inherited a property. They are still in grief and just want the property sold with a little fuss as possible. If the agent appointed is requested to present the property to their database and achieve a good price acceptable to the vendor without going to market, then this would be an opportunity to sell “off market”. Of course, there are other reasons why an agent could sell a property off market, but it should always be at the request of the vendor/vendors. In a strong selling market, as we have at present on the Fleurieu, I would suggest always taking properties to the market. Why? When stock is low, and demand is high you will always get competing interest in the property. How much interest and at what level can only be determined by the market itself. Agents facilitate this process on behalf of the vendor to achieve the best result for the client, the Vendor/Vendors. Competition drives the market, not going to the market misses this opportunity to see what the best price achievable would be. This is what agents get paid for. Commission is paid to agents for achieving the best price possible that is acceptable to the vendors. Sometimes a quick off market sale may be exactly what the vendors want however, the majority of the time a vendors should request the property is presented to the market and expect agents to achieve the best possible price for the property. As stated above this can only be achieved by taking the house to the market. You employ and agent for their skills, market knowledge and negotiation skills and using the tools available to them through “best practice” industry standards. In my opinion “Off Market” sales are risky and may save a few dollars on marketing but could possibly miss the best possible price for your home. Give me a call anytime to discuss my comments above.Roger SmithOver 17 Years as an AgentExtensive knowledge of the Fleurieu PennisulaAvid GolferHusband to Deb, Father to Amy 10 & Charlie 9Monster Car Enthusiastic 

National property prices increased 2.3% over the first six months of 2023, signalling a shift in the housing market and reversing the declines experienced in the prior six months. Despite the better- than-expected price growth, home prices declined 0.1% over the financial year.National property prices increased by 34.9% from the start of the pandemic in March 2020 to their recent peak in March 2022, one of the fastest periods of price growth on-record. Since March 2022 when national property prices reached a peak, they have fallen by 1.9%, with the falls occurring between April and December 2022 and a rebound in prices since.Adelaide and Perth, along with regional WA, are the only regions in which home prices are currently at their peak. At the same time, home prices are furthest from their peak in Hobart (-7.2%), Canberra (-5.5%) and Melbourne (-5.2%).Projected growth for Adelaide in 2024 is between 3 – 6%Annual change in dwelling price in regional SA from June 22 to June 23 is 8.9% the highest in the countryAll data above from Corelogic Property ReportWhat does this mean for the Fleurieu region.. No genuine drop in prices. Stock levels are still low, demand is still high, so growth in the market is still strong. Time on market is between 30-45 days for properties priced correctly. Trust your agents data, evidence is important in an appraisal. The market will always dictate the price, agents can give a an accurate guide but listen to the market feedback. Our region is still in very high demand. Choose an agent you trust.Roger SmithOver 17 Years as an AgentExtensive knowledge of the Fleurieu PennisulaAvid GolferHusband to Deb, Father to Amy 10 & Charlie 9Monster Car Enthusiastic 

ABC Australia stated on 19/07/2023: Australia is on the brink of ending RBA rate hikes and an economic first: beating inflation without a recession.The “Goldilocks” outcome – not too hot or too cold, but just right – would be keeping in work most of the Australians who got into work when unemployment fell and getting on top of inflation. If we can manage that, we will have done future Australians an enormous service.Things get easier when unemployment is low. We get more likely to become more productive, because we’re less resistant to change when unemployment is less of a threat. We get in a better position to help the budget, by taking less in benefits and paying more in tax. And we become more like each other – lessening inequality.It is looking as if the Reserve Bank has the opportunity to cement low unemployment while controlling inflation. Holding off (and perhaps abandoning) future rate raises will keep it in reach. A Chief Economist for a national Real Estate brand states “that significant movements in prices are taking place across Australia. They note that prices have already risen by 3.5 percent since the beginning of this year. If this rate of growth continues, house prices are projected to reach their peak levels from 2022 within the next two months. It is worth noting that cities like Adelaide, Brisbane, Perth, and Darwin, which experienced minimal price declines last year, have already returned to peak pricing.While Adelaide demonstrates resilience in the face of economic uncertainties, some sellers are hesitant to enter the market due to concerns about potential interest rate hikes affecting their chances of a successful sale. However, it is important to recognise that these concerns are unfounded.In reality, there has been a surge in attendance at open homes, with a record number of potential buyers, and multiple offers are being received.The current market conditions undeniably favour sellers, making it an optimal time to sell your property. With low stock levels and high buyer demand, the market is classified as a "Sellers Market." It is advisable not to miss out on this advantageous timing. Waiting until Spring would result in increased competition as more properties flood the market. What does this mean for the Fleurieu. Great time to sell still but don’t wait for spring as more properties will come on the market. Results are still excellent with no sign or a reduction in prices or activity. Low stock levels mean more competitive action and strong prices. The news it not as bleak from an economical pont of view as first thought. Things are looking better. Go “Goldilocks Australia”Roger SmithOver 17 Years as an AgentExtensive knowledge of the Fleurieu PennisulaAvid GolferHusband to Deb, Father to Amy 10 & Charlie 9Monster Car Enthusiastic 

What is the process that needs to be followed to purchase a property through an agent?Firstly find a property that you wish to purchase – a good start!! Ask the agent what the process being used for the sale and the process for making offers on a specific property. This should be clear in the marketing of the property. There are four ways of selling real estate in South Australia. 1. Bid and buy at auction under auction conditions • This requires you or your proxy to bid on the day. • You have to register to bid at auction. • If you are the highest bidder at the fall of the hammer, you are the successful purchaser and will need to pay a 10% deposit unless a variation to deposit is agreed prior to auction. • Settlement on the agreed date unless a variation is approved prior to auction. 2. Private Treaty - Negotiation • This is normal way to sell with a single price or price range. • No more than a 10% range can be used and no words like “offers around” or “offers above” etc are allowed to be used. • All offers for a property can be submitted (any value and conditions) and should always be presented to vendors. • Vendors do not have to except any offer submitted without declaring a reason. • Vendors have a right to accept an offer, reject an offer or counteroffer. This process is a “treat’ process and can be in negotiation until an acceptable price is reached and the conditions of sale are agreed to by all parties. • A best and final offer process can be used to the sell a property which requires purchasers to submit their “best and final” offer when requested. • If multiple offers from different parties are presented for a property then a request for all parties to present their single best and final offer should occur. This should however, be only requested once from all parties and not turned into a “Dutch” auction. 3. Expressions of Interest • This method is used to register buyers interest in a property with indications of the price and conditions they would be prepared to present to the vendors. • There should always be a closing date and one of the above processes should be used as method of finalising the sale announced. 4. For sale by Open or Closed Tender • In this method of sale the first decision that has to be made is if it as an open or closed tender process. • An open tender is where tenders are submitted through the agent in an open tender format on or before a closing date. • A closed tender is where tenders are submitted through a secure tender box or a secure platform on or before a specific date. • The vendors are then asked to select their preferred tender and the successful party is advised. • A vendor does not have to accept any offer through this process should they wish not too. Should you ever have any questions with regards to the above contact your agent, Business SA or give us a call and we will try to assist.Roger SmithOver 17 Years as an AgentExtensive knowledge of the Fleurieu PennisulaAvid GolferHusband to Deb, Father to Amy 10 & Charlie 9Monster Car Enthusiastic 

Market UpdateAs autumn colour enchants our neighbourhoods, latest data continues to point to favourable local real estate market conditions. Regional SA and NT continued to perform well in the past quarter with a 2.4% and 0.5% increase in home values respectively. Some of our offices have noticed slightly decreased buyer enquiry, however sales volumes and days on market have remained steady in the past month throughout SA and NT. Analysts are predicting interest rates are either at the peak at 3.85% or have one more 0.25% rate increase to go before starting to drop at the end of 2023. This should bring increased confidence into the sector and points to stable second half yearly results. Agents Legal Responsibilities What should you look for in a Real Estate Agent, working out who is best to sell your property? Legally agents are required to be registered, to be registered they must have completed a minimum of a Cert IV in Real Estate Sales or a Diploma in Real Estate. All agents are required to give you a Form R1 which is a legislated form giving a guide to what is required by a Real Estate Company when signing up your property for sale. Agents can only sign your residential property up for a maximum of 90 days and then have to renew your agency if they wish to carry on selling your property. They should always do this on a Sales Agency Agreement. You can sign up an agency for 1 day, or any number of days you choose up to a maximum of 90 days. So if an agent says they have a buyer for your property you could give them a 7 day agency so they can introduce that buyer and any others they might have. If you want to buy a house and your offer is subject to the sale of your home, You do not have to sign a sales agency with that agent to sell your house. In fact the act discourages you to do this unless the agent gets you to sign a Form R6 which states they get you to declare that the agent has made you aware of the conflict of interest under the act and you waive your rights. All of regulations that where brought in under the new act in 2004 after the Rau Review into Real Estate practices ensured agents became accountable for their actions and practices, which I believe was a good thing. All the details with regards to the Form R1 to Form R7 are available on the CBS website. All real Estate Agents are now accountable and should act with integrity, honesty and work with the requirements of SA Real estate Regulations and Acts. If you ever want to talk about your rights under the act give me a call on 0407261685 for a chat.Roger SmithOver 17 Years as an AgentExtensive knowledge of the Fleurieu PennisulaAvid GolferHusband to Deb, Father to Amy 10 & Charlie 9Monster Car Enthusiastic

Market Update April What a difference a couple of months can make. The interest rate rises and the obvious impact on the financial situation of many Australians has caused our market to slow down a bit. The major impact seems to be on the numbers of people enquiring on properties. If they are priced right, we get lots of strong enquiry, but if it’s to high it just sits. Talk to your agent to get an accurate figure for the market to get excited about the property. Interesting data has come out of Core Logic with regards to regional SA regarding the March Housing Chart. Most people love talking about the real estate market and knowledge is power. It’s important to not just know what is happening in SA but also around the country. Some key take-outs for you to discuss with your agent: -             Over the past 12months no market in Australia has performed better than Regional SA, with an increase to property prices of 13.2%-             Whilst growth has slowed, Regional SA property prices still increased over the past three months by 1.6%.-             Overall, the Adelaide market decreased by 1.4% in the past 3 months. Affordable housing (representing the lowest 25% of housing), increased modestly over the last 3 months by 0.6%.-             Sales volumes have decreased by 7.4% over the past 12 months in Regional SA.-             There are 20.5% less listings on the market in Regional SA compared to this time last year.-             On Average, rents have increased in Regional SA by 7.5% in the past 12 months (12.2% in Adelaide).-             Rental yields are much stronger in Regional SA (5.2%) compared to Adelaide (4%)-             Over the past 12 months, SA was the best performing State in the Australian property market. I believe this data is reflective of what the current market is doing. We had our Monday morning catch up and the difference in activity across the Fleurieu is interesting: Normanville, Carrickalinga and Yankalilla – Still very busy at all price ranges. Rural living ridiculously busy. Willunga and Mount Compass – Residential and Rural Living properties are very busy but still dependant on price. Strathalbyn, Meadows, Macclesfield all feel like they could become the new Mount Barker.Rural living properties between Strathalbyn and Goolwa are really popular. Victor Harbor and surrounds, totally dependent on getting price right. Coastal properties still in high demand with multiple offers. Rural living still very strong. Standard residential going really well if the price is right. “Best Offers” with a genuine market Price Guide are working well. Contact the Elders Fleurieu, Hills & Vales team for an update in your area at any time.Roger SmithOver 17 Years as an AgentExtensive knowledge of the Fleurieu PennisulaAvid GolferHusband to Deb, Father to Amy 10 & Charlie 9Monster Car Enthusiastic 

The electrical retail industry in Australia has gone through a significant period of change over the last few years. The covid pandemic became the catalyst for many Australians adjusting, not necessarily by choice, how and where they spend their quality time. Families were choosing to make purchases for their homes rather than saving for the next big holiday, which started to feel more unattainable than ever. Technology has played a major part in assisting this shift in consumer behaviour. For example, 4K Televisions that can show cinema quality content are now more affordable than ever. Soundbars with Dolby Atmos technology can emulate true surround sound in the home. The abundance of streaming services, such as Netflix, Prime Video and Disney Plus, now allows Australians to have access to an unprecedented amount of content, all available at the touch of a button. While the worst of covid seems to be firmly behind us, many of the lifestyle adjustments it catalysed have stuck, with access and affordability being integral to the change.Advancements in technology are already occurring throughout the electrical retail industry. Dishwashers can detect the level of soilage on dishes and will automatically adjust the detergent dosage and water temperature to ensure the best cleaning. Fridges can use an array of sensors to carefully manage temperature, airflow, and humidity which extends the life of fresh food far beyond what was previously possible. Air conditioners can work as air purifiers to minimise allergies and can detect human presence to optimise their usage accordingly. Robotic vacuum cleaners can clean and mop your entire house while avoiding obstacles and emptying themselves when done. Brands are constantly striving for improvements in energy efficiency, resulting in the latest models almost always being more efficient, and therefore cheaper, to run than preceding models.Many innovations are designed to enhance people’s quality of life, which is particularly pertinent given our ageing demographic. Services such as Google Home allows consumers to control lights and appliances remotely from a mobile device. Google Assistant, Siri and Alexa allow users to use voice commands to make phone calls, access news and media, and search everyday information without ever needing to touch a button. These services actively learn from usage and are able to customise their responses over time to suit the user. Most importantly, all these innovations are designed to be simple and straightforward to use, so people of all walks of life can benefit from them.In the future we expect to see further technological evolution in the electrical retail industry. Expect to see fridges which can catalogue the contents so that you can be alerted of products due to expire, and your next weeks shopping list is collated automatically. Expect cooking appliances which will optimise cooking conditions and learn your preferences to ensure your food is cooked perfectly every time. Expect the appliances of the future to be feature-rich, efficient, and able to make life easier than ever before. Bronte EllendonStore Manager – Betta Home Living McLaren Vale15+ Years in retailLover of travel and live musicAvid gym enthusiast

The Property market on the Fleurieu experienced a major growth period during the Covid pandemic. This was due to the location being perfect for those wanting “out” of all the major cities around Australia.South Australians have a strong tendency to want to come home close to retirement, Covid increased this desire with the ability to work from home being a major factor. Holiday homes have become permanent homes, and part time occupancy is also common. The number of professional couples that have relocated to the area is huge. A number have their main residence here but a smaller unit or property in Adelaide or another major city. This is a definite change in demographic. Those looking to return to our coastal lifestyle, space and being close to Adelaide lifted the demand enormously.Stock levels were high pre Covid, but demand reduced the stock levels dramatically. Also the number of people leaving the region was at its lowest. Standard economics of supply and demand created a major increase in property values across the whole of the market. (Between 25 and 60%)This demand has not decreased with the government’s fiscal policy and the Reserve Banks interest rate rises.We are still seeing good numbers at properties and the average time on market has gone from over 90 days pre Covid to around 30 days at the markets peak.Prices have stabilised in recent months but demand is still high, so all properties are still competitive.All vendors looking to go to the market should always listen to their agent. The market will always determine value you just have to listen to it. Off market sales are generally detrimental to the vendors best price but that’s another conversation.All of these changes have also changed the local business market place with large companies now looking to invest in the area from a business and infrastructure point of view. Job numbers have increased, local business is seeing a boom that should no longer be seasonally impacted due to the large increase in permanent residency. Yes, it is a great time to sell, but it is also a competitive time to buy, contact myself or any of the Elders sale staff on the Fleurieu to discuss the current state of the market. We have specialists across the Fleurieu in Victor Harbor, Willunga, Strathalbyn and Normanville. Call Elders Fleurieu, Hills & Vales for all your property enquiries.Roger SmithOver 17 Years as an AgentExtensive knowledge of the Fleurieu PennisulaAvid GolferHusband to Deb, Father to Amy 10 & Charlie 9Monster Car Enthusiastic