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 Smith

Over 17 Years as an Agent

Extensive knowledge of the Fleurieu Pennisula

Avid Golfer

Husband to Deb, Father to Amy 10 & Charlie 9

Monster Car Enthusiastic