Property sales across South Australia in the past year are up almost 40 % on the previous year despite severely low listings.
2/3rd of Adelaide properties is already growing more than 10 percent this year as the spices are continues to spike despite the low on listing.
Australia property market rose to 18.4% in the August, by looking at this figure we can say, this is the highest annual appreciation since July 1989.
Multiple reasons show the sales has jumped despite the numbers of listing in the market remains low.
- Investor who has the property for a long period of time, are thinking to sell instead of continuing to invest.
- People who were thinking of selling this year or in the 2022, they are also active and looking for the right opportunity in short are playing around.
- Then you get maximum number of people saying, “hey! If I get the right price for the property, I will sell it”.
In short, it is very simple to understand, there are properties lying dormant in the market and are not coming out to feed the hunger od the buyers.
According to CoreLogic, “Since then credit policies have loosened and mortgage rates have reduced to record lows, encouraging more Australians to participate in the housing market”.
“For now, few people are losing out because of skyrocketing prices in virtually every part of the country. Younger Australians are facing conditions that “make it harder to enter into the housing market”. He added.
Would encourage sellers to be in the market as this is the right time to take advantage and feed the hunger of buyers. Get the maximum out of your assets and align your future needs.