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‘Mini Property Boom’ for Adelaide real estate market.

By Rishabh Dhall

Adelaide represents itself as a consistent performer with the property prices rising over 21% over the past 24 months.

Again, Adelaide has shown great resilience and took this recent outbreak seriously, and become a safe and sustainable city, there is a reason why it is ranked the third livable city in the world.

Almost 5,200 homes were there in the market for sale in June, with the state decided to go under hard lockdown restricting limited movement, the real estate industry is not sitting still.

We were generating appraisal despite the lockdown because on the flip side vendors’ confidence was up on the roof with the situation they have been seeing in the market.

By looking at the current situation, there is no stoppage, as the Adelaide property market has been booming in recent months, with the median price of $551,538 with an average of 28 days on the market, this is the best of the best advantage that everyone should consider whether you are buyer or seller.

According to Nab residential quarter survey, “expecting 19% growth in 2021 and 4% in 2022, low rates and strong income support have seen astonishing price growth in 2021.

Because of this lockdown, we could expect fewer vendors, but here isolation will work better than the competition.

We call it the ‘Mini Property Boom’. As most of the buyers didn’t get any chance to secure their dream property or were left out in the market. We could expect a huge boom in the numbers of buyers at the open and putting their best bids to secure their property.

We have already started receiving several calls from the buyer’s sector, who are eagerly waiting to be in the market.

We all know that fewer properties are prevailing in the market and that is the biggest challenge, but increased dwelling prices are the key factor that is driving Adelaide’s real estate market.