listing - Onyx Reraltors

Adelaide property values continued to climb in August

By Rishabh Dhall

CoreLogic’s latest home value index shows Adelaide dwelling values rose 1.9 percent in August to a median of $522,180 – slightly up on the 1.7 percent recorded in July.

What we can see right now is the strong demand continues to rise prices up and excellent management by the state government to tackle Covid-19 is increasing the confidence among the homeowners to sell their home.

As the employment levels are leveling up and interest rates remain low, this is still fuelling the demand.

We have been asking homeowners is the right time to come into the market? as they can see the market is strong and demand is also surging up.

Last weekend we had 80 registered buyers for our property, we have already secured offers and working on it.

We can certainly say that the prices in Adelaide will continue to increase during the spring season as more and more properties hit the market.

An increase in August takes Adelaide property values 12.8 percent higher than the last eight months of 2021 and 17.9 above as compare to the same time last year.

Property in Adelaide has traditionally lower than the larger capitals, due to recent changes in the property prices and injection of government stimulus packages has increased the interest by interstate and outside investors, including those in the COVID-19, ravaged eastern states.

According to Tim Lawless, “said the slowing rate of growth likely had more to do with worsening affordability constraints than ongoing lockdowns in many states”.

During the open, I have experienced so many buyers, who cannot put their interest in the properties as the property’s prices are going out of their hands and few are active since the start of 2021 but still couldn’t be able to get their home.