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South Australian property sells in an hour

June 13, 2019

The sale of a modern 3-bedroom, 2-bathroom house in Strathalbyn in less than an hour has demonstrated forcefully that consumers are confident about South Australian real estate.

Listing agent Nick Grosvenor from Raine & Horne Strathalbyn was in the process of showing a photographer around the house at 10 Edinburgh Road, Strathalbyn when a passer-by happened to make an enquiry about the property.

Mr Grosvenor said “A local downsizer inspected the house and within minutes made an offer that was close to the asking price of $350,000, which was accepted by the vendor.

“The buyer was taking a walk with her son in law. She is moving out of a larger 4-bedroom home built on a 1200 square metre block in Strathalbyn and her preference is to stay close to her family.

“She also wants to stay in her own home for now rather than go into a retirement living arrangement. On this basis, the property ticked many boxes for the buyer, and we have scored a very rapid sale.”

Serendipity or not, Mr Grosvenor said this transaction also reflects improved consumer confidence in the Adelaide market since the end of the Federal Election campaign.

“Buyer enquiries are at least 80% higher now than in the weeks leading up to election day,” Mr Grosvenor confirmed.

“Vendors are more confident to list their homes for sale because there was a fear the removal of negative gearing benefits and the reduction of the capital gains tax discount would cause property values in Strathalbyn, Milang and surrounding suburbs to fall.”

James Trimble, General Manger, Raine & Horne agrees that buyer and vendor confidence has surged since the election.

“We have also seen a spike in sales in South Australian coastal holiday markets such as Port Lincoln and Victor Harbor,” Mr Trimble said.

“In the week after the election, we had three sales in Victor Harbor where before the election there was negligible activity.

“It appears that city slickers from Adelaide now feel more confident about the values of their family homes holding up now the threats to negative gearing have been removed and are now happy to use some home equity to buy a second property on the coast.”

For all your sales and property management needs in Strathalbyn and surrounding areas, contact Raine & Horne Strathalbyn on 08 8536 3830.