Adelaide, SA After a wet and miserable winter, the warmer spring weather has the South Australian real estate market well-placed for a strong finish to 2018.
“It’s always good to show properties in their best light, which is why spring is the traditional selling season,” said James Trimble, General Manager SA, Raine & Horne.
“For some owner-occupiers, there is always the objective of enjoying summer in a new house, and this drives springtime buyer behaviour whether it’s a house in Adelaide or a lifestyle property on the Murray River.”
Andrew Harvey, Principal & Sales Manager, Raine & Horne Salisbury is predicting a reasonable spring market in 2018.
“We have more buyers than sellers, which is great news for those considering a sale this spring,” Mr Harvey said.
“Any property that is well-priced or well-presented will be snapped up if it hits the market between now and the beginning of the Christmas season in December.”
The entry-level Salisbury housing market that extends from $250,000 to $350,000 will be the major battleground for buyers this spring.
Mr Harvey explains, “The entry-level markets attract equal numbers of first home buyers and investors.
“For $320,000, a first-time buyer can secure a quality three-bedroom home in Salisbury, while investors prefer this price point as they can achieve yields of close to 5% gross,” he said.
“Salisbury appeals to owner-occupiers, tenants and investors as the northern suburb is just 25 kilometres to the Adelaide and commuters are well served by road via the Salisbury Highway and a regular train service.”
The Adelaide Hills
In the Adelaide Hills town of Meadows, Gary Dawe, Principal of Raine & Horne Meadows said the market would favour owners who decide to sell this spring.
“We currently have a dearth of available stock across all property types including entry-level homes, vacant blocks, lifestyle properties, and small acreages,” Mr Dawe said.
First home buyers are seeking three-bedroom, two-bathroom houses built in the 1980s and 1990s, which sell for low-mid $300,000, according to Mr Dawe.
Mr Dawe added, “The lifestyle properties that range from 2- 50 acres attract second- and third-time buyers who are seeking a dream treechange. Prices for lifestyle properties start from high $400,000s up to multi-million dollar properties that come with excellent infrastructure.
“We have a broad range of buyers seeking a comprehensive range of properties in Meadows, Strathalbyn, and Macclesfield. However, whether it’s a house or small acreage, the common theme is that there is a shortage of stock.
“With this shortage of stock in mind, if you’re considering putting a Meadows, Strathalbyn and Macclesfield property on the market, this spring is prime time to make a move.”
Regional south eastern Australia
In southeastern South Australia, John De Michele, Principal of Raine & Horne Murraylands says real estate markets in Murray Bridge, Swan Reach, Mannum, Tailem Bend, Meningie, and Karoonda will enjoy stable conditions in spring 2018.
“In Murraylands and nearby Murray Bridge, there is a large subdivision, Hindmarsh Estate, which will deliver an additional 120 allotments starting from $76,950 into the local market. This estate will be released later in spring, and it will change the dynamics of Murray Bridge.”
Given the region is dominated by the mighty Murray River, Mr De Michele expected the traditional uptick in demand for riverfront properties would occur again this spring.
He added, “The riverfront property market is always a very active as the weather warms up.
“Riverfronts range from $300,000 - $1 million and are popular with locals, out of town buyers from Adelaide and a smattering of interstate buyers.
“It’s fair to say that we could do with some more listings this spring, which savvy vendors in this region are noting.”
James Trimble’s tip’s for securing a rapid spring sale