RESIDENTIAL PROPERTY
THE residential property market in South Australia is defying economic headwinds with median house prices climbing to a new record high, again.
According to the latest REISA data, median house prices rose by 2.40% during the quarter and are 11.11% higher than a year. Metropolitan Adelaide recorded...
Prices rose despite the volume of sales declining across SA and metro Adelaide by 9.91% and 11.28% respectively...
REISA CEO Andrea Heading said although the economic situation and the traditionally slower third quarter had impacted upon the volume of sales, consumer confidence and...
“It is clear that purchasers are still willing to enter the real estate market and to pay premium prices for properties that are realistically and transparently priced...
Suburbs which have seen the largest growth over a 12 month period were Bridgewater, Somerton Park and Plympton Park with increases of 38.40%, 31.38% and...
Top selling suburbs in terms of recorded sales over the September quarter were Mount Barker, Morphett Vale and Parafield Gardens...
“It is not surprising that the same suburbs feature in every quarter with consistently strong sales. They are suburbs that highlight the key drivers of...
Units and apartments sales across Adelaide and metro Adelaide also declined, but the median price climbed to $455,000 and $490,000 respectively...
“It is good news that units and apartments continue to hold their own in the current economic climate.” Heading said.