The summer is about to end, but the Adelaide real estate market remains hot, with property prices rising to 7.4% compared to a 3.4% increase nationally.
Major cities have seen a drop in their quarterly growth scale, but Adelaide continues to stand strong with a record high rise of 2.2% in property prices.
South Australian market sees a consistent rise in investor participation. With Reserve Bank holding interest rate at 0.1% and discounting levels hitting the ground, investors’ interest in our market continues to strengthen.
With highly engaged buyers, properties are selling faster, and Auctions remain popular as ever. Adelaide recorded the second-strongest preliminary clearance rate in the country. Last month, we had more than 40 auctions and we saw success in ALL of them. One to highlight was our recent sale of an 8-bedroom home in Unley Park which reached a whopping $3.5m under the hammer. All considered, our team’s clearance rate for the month stands at 100%.
The Luxury homes segment continues to compete with affordable housing across Adelaide. Suburbs like Unley, Salisbury and Adelaide city saw the biggest annual increase in new listings, further showcasing our market’s strength.
Looking at our Property Management team, Adelaide’s rental market yields trended to 3.8%. As border restrictions ease and international students return to attend universities, we expect to see EVEN more rise in rental demand in the coming months.
Now for our Projects team, newly built coastal developments continue to attract investors, and we see great progress in much awaited CBD projects, townhouse developments, and many more in the pipeline.
At Ouwens Casserly, we had a fantastic start to the year. Our team have won the Major Independent Group of the year 2022 at the REB Awards.
REB awards program is a benchmark of excellence, recognizing the top businesses and professionals influencing and propelling the real estate industry across Australia.
We take this formal recognition and respect earnt by our brand and our people very seriously and are glad that Ouwens Casserly could be the standout group and represent the South Australian real estate industry on a national level. Read about it more here.
This last month, we held our Annual Sales Conference to offer the team insight and inspiration to excel in 2022. We also kicked off our awaited Cadetship program, welcoming three promising cadets to learn and grow within the OC team.
If you are looking to buy, sell, lease or have your property managed, reach out to one of our specialist property consultants here within the OC team.