0.9% decline in the Adelaide property market. Buyers and Sellers need to get the right opportunity.

By Rishabh Dhall2 years ago

By Rishabh Dhall

16th September, 2022

CoreLogic’s home value index slumped 1.6 % in Australia in August, with a 0.9% decline in the Adelaide property market.


Now we know that RBA has increased the cash by adding 0.50% totalling 2.35%. Giving more buyers a hard time getting into the property market.

As per the new report, there has been slightly decline in the demand of new housing loans, which are reflecting to decrease in Adelaide property prices.

But looking at the current scenario, the declination of the prices would require a serious bubble burst which has been created over the past few years. To get back to June 2020 condition the country would need to go at least 18% lower than they are now.

By Looking at the current market:

IF YOU ARE SELLER.

You need to act fast, it’s good that you are a homeowner, but if you are thinking of selling you need to take advantage of the market right now, as the prices will going to shed a little bit over 12 months. This is the time to reap the offerings that the market is providing. As current interest rates are still bearable by many active buyers.

IF YOU ARE BUYER.

On average, buyers tend to spend at least 7 months in the market to get the right property after gaining approval and viewing over 100red properties before making any decision.

If you are into this category – it shows you are not filtering enough and not shortlisting the criteria that you are looking into the property. Resulting missing out on the right opportunities as you have taken a long time to secure a house.

And most importantly communication is the key, not asking the right questions to an agent will result in various conditional offers or pushing a contract that doesn’t go well with seller’s time frame.

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