2024 has been a mixed bag for the Adelaide’s property market, with auction clearance rates showing some signs of softening. However, we have seen some fantastic records being broken for prices achieved in some of the once not so popular suburbs. Clearance rates, which reflect the percentage of properties sold at auction, have fallen this year. In January, clearance rates were over 75%, but at the moment that number now seats at 61%. So, what’s causing the drop? Rising interest rates and inflation are hitting buyer confidence, making it harder for sellers to achieve the prices they want. More properties are being passed in, leading to some uncertainty in the market. Experts predict that this trend could continue into the final months of 2024, leaving sellers and buyers alike navigating a more cautious market. But people don’t need to despair because properties that are correctly priced are still moving quickly. I make a note of spending that extra time to research a property thoroughly so that the owner knows they are going to sell at a premium in the current market conditions.
“Exciting times are ahead for Thebarton, South Australia’s next hot spot for growth and transformation. The West End Brewery redevelopment.”
“Once home to one of Adelaide’s most iconic breweries, this prime 8.4-hectare site is being reimagined into a vibrant, mixed-use precinct that blends the best of heritage with modern living.”
“Set to feature contemporary apartments, stylish townhouses, public parks, and an array of cafés and shops, the West End Brewery development is shaping up to be a game changer for Thebarton—and for Adelaide.”
“With its unbeatable location just minutes from the CBD, a new focus on sustainability, and a perfect balance of work and play, it’s the place to be.”
“As a local expert on the cities western fringe this is certainly another feather in the cap of new developments underway on the west side.
Investors are showing keen interest and we would suggest that there will be a few locals ready to downsize, cash up and enjoy living on the doorstep of the ever developing Adelaide CBD with its beautiful parklands surrounds.
Nathan Bitter was a good drop apparently and it looks like this development will be too!
The Act provides all the information for the erection, replacement, repair and maintenance of fences. Many areas have specific rules about fence height, materials, and even placement along property lines. You’ll also want to know whether you and your neighbours share responsibility for the boundary fence A shared fence benefits both of you, and many neighbours split the cost. Once you both agree on the style and material be sure to get everything’s in writing – it protects both parties!
Get a few quotes from contractors to find the best price. The total cost will depend on materials, labour, and the length of the fence. Once installed, a new fence not only adds privacy but also value to your home!
If you have questions about your property boundaries reach out to me anytime and if I don’t know the answer, I can call the right person to get the right information.
This 3.6 hectare city fringe site has the Commercial Retail Group ,Peet and Buildtec consortium at the helm to deliver an Adelaide first development.
• Market Square, cafes, Wellbeing Centre , Flower Bar , eateries and Supermarket • Over 200 apartments across four towers • 71 Townhouses • 67 Short stay Apartments • Urban Green School • Rooftop Urban Farm • All with 30% of the site offering open and green spaces for everyone to enjoy.
Exciting times ahead – and guess what ? Our head office is right across the road – it will be time for a coffee and a snack before you know it. San Arora – 0450 008 065
The newly launched Adelaide Regional Plan, developed by the State Government, is set to replace the Greater Adelaide 30-Year Plan. With a focus on meeting increasing demand for residential spaces, the plan aims to build 200,000 new homes by 2045 and invest $2 billion in the North-South Corridor by 2030. This growth will reshape areas like Adelaide’s CBD, Outer North, and Port Adelaide, while established neighborhoods are expected to maintain strong property values, attracting both homebuyers and investors.
At Onyx Realtors, we specialize in working with investors and developers, facilitating successful transactions that align with Adelaide’s expanding landscape. Whether you’re looking to invest in the future of Adelaide or explore residential opportunities, we can help. Contact us today and be part of Adelaide’s exciting growth!
Adelaide’s CBD is experiencing a multibillion-dollar transformation with 40 approved projects that will reshape the skyline. These mixed-use developments are designed to combine offices, retail, hospitality, and residential spaces, creating a dynamic environment that thrives day and night. The rejuvenated city will not only become more vibrant and safer but will also boost local business activity and enhance the overall lifestyle.
A Surge in New Homes and Jobs
The city’s growth is marked by the creation of thousands of new homes, including over 1,800 apartments and 300 student accommodation units. Alongside this, 13 new hotels will add over 2,700 rooms, attracting tourists and generating local employment opportunities. The standout 24-storey Central Market development will introduce 600 apartments, reshaping Victoria Square and highlighting Adelaide’s forward-thinking, festival-centric culture.
Projects Underway and Progressing
In addition to the 40 approved projects, $1.33 billion worth of construction is already in progress. Notable projects include the NEXTDC data center, the Entrepreneur and Innovation Centre at Lot Fourteen, and other residential projects that will deliver more than 1,600 apartments and townhouses.
Recent Completions
2024 has also seen the completion of nine major developments, such as the Australian Bragg Centre in the biomed precinct and the new office tower at Festival Plaza, further solidifying Adelaide as a city of innovation and opportunity.
Adelaide is booming!
The conversations I’m having lately with surveyors, planners, financiers, and investment groups confirm that Adelaide is on a roll.
Drop me a line if you want to connect with other like-minded professionals and take advantage of the bright future unfolding across Adelaide.
Osborne Naval Shipyard Expansion: Impact on Residential Zones and Real Estate Opportunities The Osborne Naval Shipyard, located in South Australia, has seen significant expansion due to the growing demand for naval shipbuilding projects, such as the construction of submarines and frigates. This development is set to have a substantial effect on surrounding residential zones, contributing to increased economic activity, population growth, and shifts in land use.
Key Impacts on Residential Zones Increased Demand for Housing: The shipyard’s growth will likely attract a larger workforce, contractors, and support services, creating a surge in housing demand in nearby suburbs. Many workers may prefer accommodation close to the shipyard, driving this demand.
Rising Property Values: As demand for housing rises, property values in surrounding areas are expected to increase. While this benefits homeowners, it may also present affordability challenges for low-income residents.
Infrastructure Strain: Population growth and increased economic activity could strain local infrastructure, such as roads, public transport, and utilities. This may prompt local governments to invest in infrastructure improvements to support the growing population.
Potential Rezoning: As the region faces higher housing demand, rezoning underutilized or industrial areas for residential purposes may become a consideration. Local councils could allow for higher-density housing or the development of new residential estates to meet workforce needs.
Noise and Environmental Concerns: The proximity to the shipyard may raise concerns about noise, traffic, and environmental impacts. These concerns could lead to stricter regulations and the creation of buffers between industrial and residential zones.
Rezoning Opportunities The Port Adelaide Enfield Local Council has demonstrated a proactive approach to rezoning considerations to address population growth. While no formal rezoning plans have been confirmed, residential zoning expansions may support workforce housing needs. Urban planning in the area will need to balance economic development with preserving residents’ quality of life, ensuring long-term sustainability and infrastructure readiness.
Real Estate Insights With the Osborne Naval Shipyard’s expansion creating significant housing demand, opportunities for acquiring sites with potential for residential density increases are on the rise.
I have had discussions with several interested parties that clearly is highlighting a growing focused residential developments and underutilized community shopping strips along the peninsula. This indicates that the region is poised for further growth, offering prime real estate investment opportunities.
When it comes to managing investment properties, the analogy “Going to the dentist to get your car serviced just isn’t an option” rings true for landlord insurance. Handling it yourself could cost you more in both time and money. Did you know that securing landlord insurance through a licensed property manager can save you up to 60% compared to doing it independently?
Why Owner-Landlords Pay More
Higher Premiums: Individual landlords miss out on bulk discount rates, often paying significantly higher insurance premiums.
Increased Risk: Without professional oversight, insurance companies view owner-managed properties as higher risk, resulting in inflated premiums.
Limited Negotiation Power: Property managers often have established relationships with insurers, allowing them to secure better rates and more comprehensive coverage.
Cost Savings: Enjoy lower premiums through bulk discounts.
Expert Negotiation: Leverage property managers’ relationships with insurance companies.
Simplified Claims Handling: Professional management reduces the hassle of dealing with claims.
Reduced Risk: Property managers ensure your investment is properly covered, minimizing risks.
Conclusion: Why Professional Help Matters
I believe in using experts for specialized tasks. By referring my clients to trusted professionals like licensed property managers, I ensure they receive the best service and value. Client feedback and referrals show that I’m on the right track, helping property investors save money while reducing stress.
On 1st July 2024, South Australia implemented significant tenancy law changes designed to strengthen tenant protections. Key updates include:
Stronger tenant rights: Tenants can now request property modifications with greater ease.
Rental increase regulations: Tighter controls on when and how rents can be raised.
Extended eviction notice periods: Landlords must provide more notice before evicting tenants.
How Do These Changes Affect Landlords?
For landlords, these reforms mean adapting to new responsibilities, including potential increased costs and longer rental agreements, which could impact profitability. Successful management under these new laws requires strategic planning and maintaining positive tenant relationships.
Stay Ahead of the 2024 Tenancy Law Changes
At Onyx Realtors, we’ve taken steps to ensure these changes are smoothly integrated, minimizing negative impacts on our landlords. If you’re a landlord and want to stay informed about how these changes might affect you, feel free to contact me.
Adelaide’s Anzac Highway is continuing to undergo a major transformation, driven by a surge in infill residential developments. Modern apartment complexes and townhouses are emerging, particularly in sought-after areas like Plympton and Keswick, providing new housing options conveniently located near both the CBD and the beach. These developments prioritize sustainability and modern design, making them attractive to a diverse demographic.
Looking ahead, several significant projects are in the pipeline. Notably, a mixed-use development near Kurralta Park will feature residential units, retail spaces, and public amenities, further enhancing the area’s appeal. Local councils are also investing in improving green spaces and pedestrian pathways to boost liveability.
While these developments are expected to drive economic growth, they also present challenges such as traffic management and infrastructure pressure. The ongoing transformation of Anzac Highway exemplifies Adelaide’s urban growth, striking a balance between modern needs and the preservation of historical character.
The Anzac Highway corridor has long been integral to Adelaide’s history, serving as a vital connection between the seaside and the city. This tradition continues with the introduction of tastefully designed, medium-density developments that respect the area’s heritage.
Looking to the future, Torrens Road is poised to follow a similar trajectory. We have substantial interest from various groups keen to participate in this area’s growth. If you have properties in the Torrens Road area, now is the perfect time to get involved and contribute to its evolving landscape. Call me anytime to discuss.
Learn about the most recent developments in the South Australian real estate market and take advantage of new chances. The South Australian real estate market is undergoing a surge of exciting trends that are providing both homeowners and investors with profitable options. Anyone hoping to effectively navigate this constantly-changing terrain must stay knowledgeable about the most recent trends, which range from shifting buyer preferences to changing market dynamics. To give you the information you need to make wise decisions, we will examine some of the most significant property market trends in South Australia in this article.
South Australia’s real estate market is humming with exciting new trends and offers a multitude of choices for homeowners and investors. For you to make wise choices and take advantage of the changing market, staying current on thƒhousing
ese trends is essential. In this post, we’ll provide five fascinating facts about South Australia’s rapidly changing real estate market to help you keep on top of the competition.
Current market trends in south Australia
Strong Demand in Metropolitan Areas: Property is in high demand, particularly in metropolitan regions like Adelaide. This trend has been influenced by elements including employment possibilities, leisure facilities, and infrastructure improvements.
Rise in Medium-Density Housing: There has been a move towards housing alternatives with a medium density, such as townhouses, duplexes, and flats. The demand for low-maintenance living and changing demographics are some of the trends driving this one.
New trends in south Australia
Work-from-Home Features: Due to the COVID-19 epidemic, purchasers may give preference to homes with designated home offices or flexible floor plans that may suit remote work needs.
Outdoor Living Spaces: The demand for homes with well-designed outdoor living spaces, such as gardens, courtyards, and entertainment areas, may rise as a result of increased emphasis on lifestyle and welfare.
Success of real estate
Urban Revitalization: New Attention Paid to City Centres South Australia’s urban areas are being revitalized, luring investors and homebuyers looking for the convenience and energy of the city. City centers are changing as a result of redevelopment initiatives and infrastructure upgrades, opening up possibilities for new residential and commercial complexes.
Digital Transformation: South Australia’s real estate sector is embracing technology developments that are changing the way homes are bought and sold. For real estate listings and transactions, online platforms, virtual tours, and digital marketing have become essential tools.
We hope you are enjoying reading our article “New Property Market Trends in South Australia”.
Excellent property opportunity
Investment Opportunities: Knowing the most recent developments in the real estate industry will help you spot new investment opportunities. You may make wise investment choices and increase your potential profits by being aware of the growth areas, the kinds of properties that are in demand, and buyer preferences.
Capitalizing on Market Shifts: Trends in the real estate market can reveal changes in buyer preferences, the state of the economy, and other variables that affect property values. You may put yourself in a position to benefit from these changes by remaining informed. For instance, you can invest in environmentally friendly residences that appeal to consumers who are concerned about the environment if there is a rising demand for eco-friendly homes.
Market Timing: By keeping an eye on Adelaide’s real estate market trends, you may strategically time your property transactions. Real estate markets cycle, so understanding current patterns can help you decide when to enter or leave the market. When the market is in a slump, for instance, purchasers may be able to negotiate favorable pricing or investors may be able to purchase houses for less money.
Pricing Insights: Understanding new property market trends in south australia offers insightful pricing information. When setting prices for selling or making offers for purchases, you can assess the general price trends in various neighborhoods and property kinds to help you make wise choices. This information gives you an advantage in negotiations and guarantees that your offers are competitive or that your asking prices are reasonable.
Benefits of a real estate agent
Expert Knowledge: Real estate agents who are up to date on South Australia’s real estate market trends have specialized information that can be useful to their clients. They can offer insightful information about the state of the market, the value of real estate, and new business opportunities.
Accurate Pricing: Real estate professionals can effectively price properties by understanding the latest developments in the real estate industry. Agents can choose the best listing price for a property by looking at market indicators and comparable sales data. By doing this, retailers can be sure to draw in prospective customers while maximizing their return on investment.
Great opportunity for a House agent
Accurate Pricing: House agents can price properties effectively by being aware of the latest developments in the real estate industry. Agents can choose the best listing price for a property by examining market information, comparable sales, and current demand. By doing this, retailers can be sure to draw in prospective customers while maximizing their return on investment.
Targeted Marketing: House agents who stay current on real estate market developments can create focused marketing campaigns. They can target the appropriate audience with their marketing strategies and highlight the special qualities and advantages of a property.
Excellent facilities for buying agent
Rise in Demand: Property demand has steadily increased in South Australia, especially in major cities like Adelaide. The state draws both local and out-of-state purchasers with its high standard of living, accessible housing alternatives, and expanding economy.
Apartment Living: Flat living has become more popular as a result of causes including urbanisation, lifestyle preferences, and affordability. Apartments offer convenience, close proximity to facilities, and low-maintenance living, particularly in inner-city regions.
South Australia vs Victoria Market Trends
Due to the COVID-19 epidemic, purchasers may give preference to homes with designated home offices or flexible floor plans that may suit remote work needs. The demand for homes with well-designed outdoor living spaces, such as gardens, courtyards, and entertainment areas, may rise as a result of increased emphasis on lifestyle and welfare. Due to its thriving culture, career prospects, and educational institutions, Melbourne, the capital of Victoria, has seen a great demand for real estate. City real estate prices have been driven up by this demand. In Victoria, especially in Melbourne, there has been a trend towards medium to high-density living as a result of population increase and urbanization. Townhouses and apartments are now common choices since they provide convenient and low-maintenance living.
Conclusion :
In conclusion, there have been several movements in the South Australian real estate market that could influence a buyer’s choice. While these patterns may change over time, some noteworthy elements include rising urban demand, the appeal of medium-density housing options, an emphasis on sustainable features, accessibility to homes in nearby regions, and beachfront properties. Additionally, consumers might place more value on work-from-home amenities and outdoor living areas, and community-focused developments might flourish. To make wise choices about property investments in South Australia, it’s critical to stay current on market information and speak with real estate experts.
Thank you for taking the time to read our article “New Property Market Trends in South Australia”. At Onyx Realtors, we strive to provide valuable and informative content to our readers. We appreciate your interest and look forward to serving you in the future.
The most recent PropTrack Home Price Index reveals that property values increased in most capital cities last month, with a shortage of available properties for sale offsetting the impact of significant interest rate hikes.
PropTrack senior economist Eleanor Creagh, “Despite lower buyer demand than peak levels, softness in new listing numbers and restricted supply has offset this”. She said.
That shows increased competition among interested buyers, which has boosted housing values.
And if we talk about the rental market in Adelaide, it has increased by more than 4% in the first three months of the year, which is double the rate of inflation nationwide.
The median advertised rent for an Adelaide home has risen to $470 per week, according to the most recent Prop Track data, after increasing by 4.4% in the first quarter of 2023.
Australian RBA Cash rates have been put on hold, giving home buyers a short-term excuse, by holding official rates steady at 3.60% for the first time in the year. As per the RBA Governor Philip Lowe, “The decision to hold the interest rates steady this month provides the board with more time to assess the state of the economy and the outlook”.
This would reflect in home prices stabilising further. Eventually, it will help reduce the hesitation that kept the buyers sitting on the fence.
If you are in the market to buy property, keep these three points in mind.
1. What is the best and lowest price you can get for the property?
2. What could be the real price you are willing and comfortable paying?
We all know that market is been driven by rapidly rising interest rates, with buyers having their borrowing power squeezed.
House prices in SA continue to rise despite nosediving elsewhere in the country.
Good news for homeowners as the prices are proving more resilient than in capital cities, where values are declining much faster as interest rates continue to rise.
As per the “The PropTrack Home Price Index”, Adelaide is also the only capital city to record a double-digit annual growth. House prices over the year have risen by 12.63 per cent.
Over the past 12 months, Adelaide clocked up an astounding 27.4 % increase in its median house price, the sharpest rise in the nation.
So, for sellers this is the right time to take the opportunity and get the best price for your property.
Buyers, we would like to give you a quick tip.
We know, it is getting harder to get a loan and there is more scrutiny parameter that lender examine.
You need to cut the financial fat out of your money diet.
A lot of people don’t understand that things that might seem simple, such as how many credit cards you have, and numerous betting deductions can dramatically affect your chances of getting a loan.
We have seen a little jump in the advertise stocks in the past 3 months surely, sellers are getting confidence and getting their property in the market.
According to the Head of Core Logic RP Data research, Tim Lawless, “Adelaide has recorded the most significant rise in values across the capital cities, with the dwelling index up 44.7% through the growth phase, adding approximately $203,200 to the median dwelling value”.
A high-quality marketing campaign is needed, to make your property stand out from other listings, getting more eyeballs for your property resulting in more prices for your asset.
Now Let’s talk about the new upcoming properties under Onyx by this week. A Sigle-story house in Pauls Drive, Valley View.
A Great investment opportunity or Family home in Hume Street, Salisbury North. An Ex-display home in Hopwood Avenue, Munno Para.
If interested, contact one of our partners to get your hands on the properties before it opens to market.
According to the Real Estate Institute of South Australia (REISA) Executive Director, Cain Cooke, “described the South Australian property market as resilient” “Traditionally, South Australia does not experience the price volatility other markets in Australia have been susceptible to in the past,” Mr. Cooke said.
Buyers must think long-term when it comes to navigating the property market.
If your objective is to buy a home to live in, then you don’t need to worry as much about short-term changes in value – just focus on finding a home you like at a price you can afford.
Property is still very affordable, despite the staggering price increases of the past three years, and rents are rising sharply.
Think again?
Adelaide’s median price is lower than prices in most of Australia’s capital cities. Which easily reflect on the average income of the individual, which equally reflect better affordability.
As a result, the typical mortgage size in Adelaide is smaller. Smaller mortgages also mean that the average borrower in Adelaide is less affected by changes in interest rates, There is reason why Adelaide hasn’t been that affected by the recent RBA rate hikes in contrary to large price declines seen in Sydney and Melbourne.
Moreover, if there is little decline in growth is on the higher segment of the market, but the lower end of the market hasn’t seen many changes, so the higher value properties are absorbing all the hit.
Prices never really fall in Adelaide … they just carry on at a more balanced pace.
As per the report from CoreLogic, spring 2022 is expected to hit a little differently, we’ve compiled four key trends for you to be across this spring selling season.
It won’t be the spring selling season we experienced last year.
There is no denying that Market conditions are very different. Buyer appetite is falling against higher interest rates, and properties are taking longer to sell, but keep this in mind, whatever the condition of the market will be, there always be sellers who want to sell and always be buyers, who want to buy, it just right now, the frequency of both sides is low.
New listings and auction will rise in the coming weeks.
Despite we have been experiencing new listings counts still lower, some data points indicate a lift is on its way in the next few weeks. We have seen a new confidence in sellers to get their property right in the market with a little rise in buyers’ activity as well.
Long term owner – occupiers are more likely to sell.
Recent buyers are at more risk of making a nominal loss if they sell during this turnaround. Meanwhile, even if the market is going through a short term, those who have held their property over the period of 5 – 10 years are more likely to make nominal gains, We have seen an increase in those as well.
Sellers will have to tweak their strategy & listen to buyers feedbacks and be flexible on their approach.
Serious vendors will need to be realistic about their price expectations backed up by quality marketing campaign and excellent negotiation by agent. As the cash rate is expected to rise further in the coming months, borrowers may become more constrained.
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.
Australia is coming strapping with 17 out of 25 housing market basis comes strong.
Spring is at the corner, and surely it will be a good time for the property market and will contribute a genuine factor pointing towards a strong recovery this spring.
Amongst all capital, Adelaide has been showing very well in terms of property prices. Adelaide has continued to increase by 0.4% in August despite the RBA’s tightening of monetary policy.
Adelaide has been experiencing a 1.3% increase in the quarterly sales prices for houses and there would be more property coming up in the market as the Spring season hits. As per the current report, the new listing will reach its peak in November which will eventually bring more confidence in buyers and sellers to Adelaide real estate market as the advertising stock rises.
The rental market is coming strong with investors cashing up their chips and getting great rental yield in the current market and will experience more hikes in prices as the number of migrants increases.
It clearly shows there is minimal stock in the Adelaide property market which enables competition, but still outperforms compared to other states.
Many buyers are holding off and waiting to get a better deal in the market, but this would not be a great strategy.
If you’re a smart buyer and you’re ready to buy, why wouldn’t you buy now when there’s very little competition? If you can find the right property, go for it.
Australian real estate: There could be a drop in house prices in Australia by 15% in the next 18 months, but Adelaide’s hot property market is going in a different direction altogether.
As we know winter for the real estate market is a slow period where activity usually shifts to a lower gear. But this is not the case in Adelaide as per the report there is a 1.2 % increase in listing as compared to the same time last year.
More new listings are hitting the market but for prospective buyers, the conditions remain tough.
Now RBA has lifted the cash rate by another 50 basis points making 1.85%. Now the bank is predicting a series of 25 basis points over the next quarter rounding off to 2.10% by the end of this year.
As we are seeing many buyers from interstate and investors are more inclined towards the Adelaide market to take advantage of the current market conditions before it gets tough.
Now when you are thinking of selling, you must be thinking about what buyers look for, and I have so much to say about this as I have meeting lots of prospective buyers during the open house. So, let’s address those.
We should not avoid the fact that Adelaide’s house prices are catching up with Sydney and Melbourne, even when the Median price of Adelaide is still lower compared to big cities. Resulting in more buyers lured towards the Adelaide housing market for affordability and ease in cost of living.
This is the best time for buyers to not be complacent and continue their search for their dream home.
Surely, homebuyers were now keen on saving rather than splurging.
Buyers are looking for houses that offered a guaranteed rental income, like DHA and NDIS scheme offers.
The rising cost of living and increase in interest rates seems to have got buyers leaning towards ‘duplex’ or semi-detached homes with a preference for the ‘ground floor.
Prices are going down; it sounds amazing, right? And for the people who are looking to enter the market, it will be dream come true situation but behind this plunging price, there are hidden certainties that could bite many Australians.
Right now, this turning point of the market, where interest rates are rising, making mortgage repayments more expensive.
As per the current situation, you could expect a $230 addon to your monthly repayment on the loan of $800K.
Now, for first home buyers,
It will be a hard decision by looking at the current dynamics of the market and it will be a trade-off between lower prices but increasing mortgage costs compared to likely further rises in the cost of renting.
Another Shocking card has been dropped by RBA, bringing the official cash rate target to 1.35 percent. There could be more fall in Adelaide house prices as the interest rate rises.
I think, by October and November come around, people will get used to the market situations and that will be the new norm.
Now, let’s talk about how you can benefit from selling your property for a good price?
It comes down to displaying it in an “immaculate condition” and having a successful marketing strategy.
If you present your property well, have the right real estate agent with you and are all ready to sell, it will still sell at the best price you are looking forward to.
Seriously, you need to see the market and step in. The person who is ready to offer 900K now might be able to pay 800K in a month. So, you know where we are going now.
If you’re wondering how the 1.35% cash rate increase by the Reserve Bank of Australia (RBA) will affect Adelaide’s real estate market, then look no further than this article! With so many changes to the property market, it’s hard to know what they mean and where you should be putting your money when it comes to buying real estate in Adelaide.
The latest interest rate change
According to reports, the CommBank has predicted that house prices will drop by 15 percent over the next 18 months. This unexpected rise has shaken the market and buyers’ dream to own their desired home would get hit as far as a mortgage payment is concerned. There’s no doubt that an RBA interest rate change will have a large effect on Adelaide’s property market.
Changes to your mortgage repayments, if you are at the current loan repayment stage
The other point worth bearing in mind is that while the changes are designed to make people think more carefully about getting into debt. This sudden rate rise will no doubt add $146 a month on a loan of 500,000 respectively $293 a month on a loan worth $1 million.
Let’s Think?
If the buyers sit and cherry-picked the market and delay their decisions, it will be repassed by the bank again, now the chances would be less to borrow more money again. Now before more interest rates & inflation kick in, eventually decreasing your chances to borrow & spending potential. If you can afford to wait, you can go ahead with the decision but if something comes up and suits your desire, buy it straight away.
Let’s face it Buying or selling under pressure conditions means you will not be having time to make smart decisions. It would be better to buy or sell the house now!
Property values in the South Australian capital of Adelaide are rising quickly, while this news would make any property owner’s heart skip a beat, it also raises questions about how long these price rises will continue. Nationally Adelaide is leading in property prices. Now the question is will Adelaide’s property prices take a U-turn?
What does the future hold for property prices in Adelaide?
For now, there has been speculation about an impending cooling in Adelaide’s property market. New data from ANZ Bank indicates that values have risen by 1.9 percent over the month of April. What we can see, although prices remain high when compared to 12 months ago but the market is loosing its growth momentum. What we can see now buyers in the Adelaide property market are taking cautious steps and taking time to buy an ultimate desirable home in South Australia.
Should you still buy now while interest rates are low (and will it go up eventually)?
The Reserve Bank’s decision to increase the cash rate by 0.25 percent earlier in May was met with great anticipation of its effect on property prices. ANZ’s predicted 11 percent decline by the end of next year caused many people to reconsider whether now is still the right time to buy into an already expensive market – even with interest rates at their lowest levels ever and expected to rise “sometime soon”. If you look at the Adelaide property market, there is something else about it. Property value in Adelaide and Houses for sale in Adelaide are rising and at the same time, rental properties in Adelaide are under a microscope.
Conclusion. Maybe I shouldn't buy after all... yet... but here's why I still think it could be worth taking the plunge.
By looking at the figures, the rise in interest rates could have detrimental effects on the housing market. I’m not saying it’s going to crash, but market will go under correction phase.
For now, if you’re looking to sell your home in 2022 or 2023, you still have a chance to secure good profits as the buyers in the market are still actively looking and ready to put their offers. Overall, prices still seem like they could be rising—the big question is when and how long will these rises last?
How long will this truly unprecedented house price boom last? With interest rates starting to show their true colours, many South Australian are wondering will it be a positive outlook for the Australian property market. It could be a shock that the Adelaide housing market can see downtime in terms of affordability.
Key takeaways...
While recent RBA decisions to increase interest rates haven’t caused property prices to fall across Australia (yet), experts are saying that we could be approaching an inflection point where mortgage rates might make property ownership too expensive for many Australians. In South Australia, these concerns seem particularly relevant—with mortgage rates currently at their lowest level in decades. Potential buyers should keep an eye on rate increases and factor any potential changes into their decision-making process.
The basics....
If you’re thinking about selling your house, now may be a good time to do it. Real estate in Adelaide has been going through an unprecedented boom—but any bubble can burst. If you’re expecting to sell your house at significantly more than you bought it take advantage of the situation now.
What does this mean for buyers?
While increasing sales are good news for sellers, it could mean that buyers will have to wait in long lines for popular properties. Adelaide property market prices continue to skyrocket despite lending standards becoming tougher in recent years. Recent months have seen vendors commanding high asking prices and achieving quick sales which may be contributing to increased levels of competition between buyers.
Adelaide Real Estate Market- Is It Going in The Right Direction?
April 26, 2022
By Rishabh Dhall
26th April, 2022
Adelaide property market has experienced record levels of demand in March as view per listing went up by 2.9 % MoM changes and 64.6 % higher than this same period last year.
Should I sell my house now?
Why wouldn’t you? Adelaide property prices are on an upswing, interest rates are still low and hopefully, it won’t increase drastically, and there’s little supply of property on Adelaide’s market. Additionally, it looks like there’s already a lot of interest from buyers in South Australia; last month we have seen more than 1250 people looking for houses so, definitely worth selling!
Demand for property in Adelaide hits record high
We have seen huge traffic on our onyxrealtors.com.au, according to recent media reports, property markets in Adelaide are moving at a blistering pace. Property experts warn that while activity and prices in Adelaide have been driven by underlying economic drivers, they expect prices to continue to rise as a further increase in interest rate will put pressure on households’ purchasing power.
Will house prices drop in Adelaide?
Like most things in life, prices tend to fluctuate— and that’s exactly what we’re seeing right now. Australia is in a property market rise at present, as RBA hints at an interest rate hike being brought forward which means property prices are expecting prices to drop. A lot of people are concerned about buying property in Adelaide, especially if they have high mortgages. But looking at the current market there is no stopping – The rising house prices have not deterred house hunters with properties continuing to sell fast.
South Australia home sellers may be in for some good news, as the latest sources, predicts that house prices in the state are set to decrease slightly. As this will make a great time to list your property. Listing your home on the market before this price dip can help you maximize its value and your selling power during an already vibrant time of year for real estate sales in South Australia.
Think again!
Are we seeing a downward trend?
Adelaide property prices have been on an upward trend for the past couple of years, but it looks like they’re starting to level off. It seems that these prices will slightly go down as the RBA kicks the interest rate. Adelaide is fast becoming one of Australia’s most desirable capital cities, recording the fifth-highest increase in house price values in 2021.
Sellers in Adelaide are taking advantage of peak conditions resulting in more properties listed for sale making it almost 50 % MoM in January.
Ways to make your property more attractive for potential buyers
Be vigilant about making improvements to your property. As mentioned in our previous post on selling your home, minor improvements can help you sell your property for more money. contact one of our agents at Onyx Realtors to know an effective campaign for selling your home. Click Here.
Home Valuation Report – why is it important?
Having your property valued accurately is one of the most important things you can do when selling your home. We will provide you with an independent, unbiased report that is tailored to your needs and specific home. Call us on 08 8293 8888 to learn more about our services or get an instant free home expected value for your property: m.me/onyxrealtors
If you live in South Australia and are looking to sell your home, you’re likely wondering if this is the right time to do so. If so, you’re not alone; many homeowners in the area have asked themselves this question over the past several months, which has proven to be some of the strongest on record for real estate sales in Adelaide. Luckily, recent trends indicate that now will be the right time to sell your house in Adelaide or elsewhere in South Australia if you’re looking to take advantage of today’s market conditions and sell quickly, have a chat with our sales partner today: Book An Appraisal
Is it a good time to buy a property in South Australia?
There’s no doubt that Adelaide’s property market is one of the best performing in Australia right now. According to the RP data report, South Australia has seen its median house price increase by 21.2 % over the last year. The number of people investing in new properties is growing steadily as more investors are drawn to our capital city from all around Australia and from offshore. So, there is no doubt that selling your property in Adelaide right now will be the best decision you will make.
Advantages of Selling Your Home When It Is in Peak Condition
Of course, sellers want to get as much money as possible for their homes. When it comes to selling a house, timing is everything. Selling during peak season means you will likely sell your property faster and for more money than if you waited until next year or down the road. A smart seller will know when his or her property is in peak condition before offering it up for sale. When Is Peak Season in South Australia?
Hiring the right agent to sell your house will make all the difference
If you’re thinking about selling your house, it’s crucial to make sure you have an agent who knows how to sell your property. Hiring a real estate agent is similar to hiring an accountant—you want someone who understands exactly what you can achieve out of your property. The right agent will tell you the right way to sell your property by delivering the right marketing campaign, amazing sales tactics which will eventually fetch you a top dollar figure for your home. See how we do it….
An interesting trend has emerged in the Adelaide real estate market; over the past year, the Adelaide house prices has risen 14% or more on average, while at the same time there are more homes listed on the market than ever before. This means that now might be the best time to sell your property in Adelaide and lock in this new high price point before things go back to normal and prices go back down. To learn more about selling your property now, get in touch with us here at Onyx Realtors.
Better news for sellers
Adelaide house prices has risen! it seems as though we are looking at a great time to sell your property. We currently have more listings than we did last month, still the prices can be achievable, even more than $50,000. If you need some help selling your home quickly and for a good price, contact our office today.
Sellers are on the winning side
Prices in South Australia and Australia-wide have seen a continual rise since late 2019. In fact, research from CoreLogic reports that house prices increased by 25.8% compared to previous year. With mortgage rates still at all-time lows, more listings and price rise around every corner, sellers have become more confident about selling their property now rather than waiting it out until next year. Hence, we at Onyx will be busy getting homes listed as soon as possible to sell before prices go up even further.
List your property now!
If you are thinking about selling your property now, you may want to consider setting a realistic asking price of your home for sale. More real estate for sale means more potential buyers and a higher chance that your property will sell quickly. This way, you won’t be stuck with a home that doesn’t sell for months on end. Contact us today to get the best possible price for your property from real estate agent.
You might be thinking it’s too late to sell property in Adelaide, but the data suggests otherwise. According to the latest report from the Real Estate Institute of South Australia, measures of buyer demand remain strong, especially when looking at total sales, turnover, and new listings. If you want to sell property in Adelaide, now may just be your best chance yet!
What are buyers looking for?
The biggest trend we’re seeing in the property market is buyers with specific price points, not just properties. This year, more than ever before, we’re seeing buyers who are looking for specific styles of property (for example, a modern kitchen or open plan living). Overwhelmingly (pun intended), buyers also want to find a property that meets their needs—or can be easily transformed into what they need it to be. Moreover, we can’t deny the fact that we are still seeing FOMO amongst the buyers. So, if the seller wants to get a great buck on their investment, this is the right time.
Adelaide market trends.
If you’re selling a property in Adelaide, now is clearly a great time to do so. But should you sell right now? Or should you hold off and wait for further gains? There are plenty of trends that indicate that sellers who get into it now will be able to sell quickly and profitably (including being prepared, knowing how to avoid common traps, and using cost-effective marketing tactics). Contact our sales partner to know the best value for your home.
Analysts predict it will continue its upward trajectory.
Recently, several analysts have noted that—despite concerns regarding an Australian property bubble—the Adelaide property market is still very strong. According to Prop Track Listings Report March 2022, new properties listed for sale on realestate.com.au in Feb were up 16.7%, which is 9 % higher than at the same time last year.
By looking at the market, I can certainly say, the property market will provide greater benefits for sellers as this is the right time to come into the market till the market gets mature.
More people than ever want to sell property in Adelaide Now
The reason more people are selling properties in Adelaide is that prices are achievable. The average house price has soared to $515,000 in 2022—almost double what it was just three years ago, meaning that, while selling conditions look set to remain strong. The sellers are getting more prices for their homes in Adelaide. As the Interest rates are likely to rise later this year, which may start to cool buyer appetite.
Investing in property can be extremely lucrative, but it’s also incredibly daunting to start with – there are so many things to consider, such as the type of investment you should make and whether your financial situation is suitable to deal with these sorts of decisions. But don’t worry, if you’re getting into the property market for the first time, this guide will walk you through all these considerations and more, so that you know what to do when you’re ready to go through with your investment in Adelaide property.
Where to Start
There are so many avenues and opportunities out there that it can be difficult to know where to start. So, we’ve prepared a little handy guide on what you should do if you’re thinking of getting into property investment and hope that it helps. But remember, there is no one right way.
How much can I afford? And how much will it cost me? A great place to start your planning process is by working out exactly how much money you have available for investments, as well as spending and lifestyle costs.
What Are Capital Gains Tax, Depreciation, Income Tax, and Division 7A?
While income tax generally refers to tax paid on an annual basis, capital gains tax (CGT) refers to any profit earned from selling your assets – including property. But what is CGT? And how does it work? In Australia, CGT applies once you have owned and used an asset for a minimum of 12 months. When you sell that asset at a higher price than when you purchased it, you pay tax. Before we begin discussing CGT in more detail, let’s first consider two other important terms: depreciation and Division 7A. Division 7A allows taxpayers who use the property as their business or trade to claim deductions for ‘expenses’ associated with owning or running that business or trade.
Should I Buy or Lease My Property?
When buying a property, there are three main ways of financing it. You can finance it through a loan from your bank (using savings or by taking out a mortgage), you can use the equity in other assets you own, or you can try and buy for less than what it’s worth – known as ‘buy low, sell high’. This third option is called equity sharing. Think of it as getting someone else to share any potential increases in property value with you.
Tips For Finding A Good Rental Home/Investment Property
Finding a good rental property takes a bit of time and patience. Once you know what kind of properties you’re looking for, it’s time to get looking for them! Set aside at least an hour or two every weekend to drive around your desired neighbourhood. If a house looks nice from the outside but doesn’t have any indoor amenities such as heating or air conditioning, don’t rent it!
Risks And Rewards of Investing in Real Estate
There are several risks involved when investing in real estate. The biggest one is simply location: Is it a good area for investment? It’s important to look at these risks and weigh them against your goals. Are you looking for something that will let you $5,000 a year (or more) on average? In that case, market risk won’t matter as much as you think—if it’s not a complete disaster.
When it comes to buying and selling property, timing is everything. Adelaide’s property market has recently experienced a huge spike in listings, which means that the time may be right to sell your property or list one of your homes if you are planning on moving soon. These trends can help inform you about what’s going on in the property market and how you can take advantage of these opportunities to make sure that you get the most money possible for your property.
The local Adelaide real estate market is booming
Not only have home sales doubled over last year, but listings have spiked too. It seems everyone is ready to jump on board—or get a piece of that action! If you’re looking to invest in property, Adelaide real estate could be your next step. So, what do you need to know about getting started?
There’s been a huge spike in property listings in Adelaide and prices are going up to the roof. This doesn’t mean that your home is worthless, but it may mean you should sell sooner rather than later. Our team at Onyx Realtors are experts at pricing properties correctly—we can help you decide what price point to list your home for and advise you of any necessary improvements to make it more attractive to buyers.
Improve Your Home Appeal
If you’re ready to put your home on the market, it makes sense to be a bit proactive about improving its appeal. Start by decluttering. You may be tempted to hold onto items because they’re special—but if your stuff doesn’t add value or meaning to your life, you should let it go. Clear off countertops and empty bookshelves; make sure storage areas are neat and organised and get rid of clutter wherever possible.
So How Do I Sell My Home Now?
If you live in Adelaide and are thinking about selling your home, then now is a great time to do so. The real estate market has seen a huge spike in property listings, which means now’s a great time to get top dollar for your home. Whether you’re considering selling or just want to know what current conditions are like for potential buyers, there are some things you should know about the Adelaide property market.
Sell your home Adelaide – this phrase can be seen everywhere in the media in the last few months. So why are so many property owners deciding to sell their homes? Are they afraid of the consequences of owning real estate after the changes to negative gearing and capital gains tax, or do they just want to finally cash out? And what about all these For Sale signs, do they mean that property values are falling or that the housing market is picking up? We look at some recent data, as well as some important factors you should consider when selling your home in Adelaide.
There are many reasons why people decide to sell their home
it’s too big, too small, they need to downsize or they’re simply tired of it. But what is causing more and more people to put their homes on the market in Adelaide right now? It could be one of three key factors. They could be selling up because… as the rise in the interest rate will impact negatively on some homeowners, the expected prices would be difficult to achieve. Slowly the market will turn from panic buying to panic selling.
The property market in Adelaide
The property market in Adelaide has seen a significant boom in sales activity. This is due to various factors including low interest rates, population growth, and high employment, which have increased buyer confidence. Real estate prices in Adelaide have climbed up and views per listing have increased by a whopping 58 per cent, making it one of Australia’s strongest capital cities for price growth.
A motivated seller and buyer can save thousands on a property transaction
Though you may think that a motivated seller and buyer will be bidding against each other they can help each other out by improving their offers. There is no perfect time to sell your property. You can put it on sale now or next year; people need a place to live now, regardless of seasonality.
What are you waiting for, move quickly to take advantage of all the great deals available now?
If you have been thinking about selling your home, now is a great time to do it. Why? Well, it’s always a good time to sell if you have an active buyer market such as Adelaide. At present, there are over 400 buyers registered on our platform and we expect those numbers to keep growing. That means hundreds of potential buyers waiting for homes for sale in Adelaide – just like yours!
Adelaide property market sees more homes on the market. A new report shows Adelaide property market sees more homes on the market. The number of listings has risen whopping 34.21 per cent gain. This might indicate that selling your house in Adelaide may be easier than ever before and this is nothing like we have seen before. What do you think about this? Do you think it means more people are selling their houses to buy new ones? Do you think it means more people are selling their houses to move interstate or overseas? The total volume of sales this quarter approached 8,000 which is an extraordinary result for South Australia.
What’s happening in the Adelaide housing market?
According to the report, number of new properties listed for sale on realestate.com.au were up 49.4 per cent, month on month, in January 2022, which is above average in recent years. There’s a lot of demand for properties under $1 million – we’re seeing first home buyers back in the game, looking at those entry-level properties close to jobs and schools.
What does this mean for sellers?
With no lockdowns on the immediate horizon, selling conditions are likely to remain strong over the next few months. The increase in listings can be attributed to the fact that homeowners are very keen to sell given the price growth.
Why are we seeing an increase?
The Adelaide property market is seeing an increase in sales due to a number of reasons. First, there are a lot of interstate buyers who have already purchased and relocated, and they’re coming back to Adelaide to purchase another home as an investment while they live at their overseas residence. As per the realestate.com.au, House-hunters across Adelaide had more options in January this year compared to last with an increase of 10.2%. The local house prices are increasing and pushing the boundaries but people are still interested and that’s a really amazing news in terms of economic development and future planning.
How do you choose the best time to sell your house? How do you predict the property market? Should I sell my house now or wait? Who are the property experts in Adelaide? These are just some of the questions you might be asking if you’re considering selling your home and want to know how to make the best decision possible.
Should you buy that investment property this year?
There’s never a bad time to buy real estate. The question is whether now a good time for you is. Historically, property in Adelaide has always had its ups and downs, but if growth over long periods of time continues, we also see increase in price for rental property in Adelaide – there’s no reason why 2022 should be any different. It’s also worth noting that Adelaide property prices have been growing strongly.
What are experts saying about the property market?
The property market can be a fickle thing, but there are Adelaide house prices trends that will continue in 2022. Adelaide is growing in popularity, with several projects underway to bolster both residential development and employment opportunities, houses for sales Adelaide will increase this year. If you’re thinking about selling your home, now might be an opportune time! But what does all that mean for property prices in Adelaide?
Will it be a buyer’s market in 2022?
Remember property prices are cyclical, meaning they’re likely to be very different in 2022. But just because there will be a lot of buyers for sellers’ houses doesn’t mean it will be a buyer’s market. It is still reasonable time in Australian housing market that the houses for sale Adelaide will touch its peak before it becomes stagnant next year. Effectively this is time to align your real estate goals that step into the market.
