Short, sharp, stats & updates on what’s happening in Adelaide’s residential sales market for August 2023.
Adelaide Residential Market / Your Insights for August 2023
According to the latest PropTrack report, it’s clear that national dwelling values are on the upswing, showing a steady 0.16% rise in July.
As we gear up for the spring selling season, many capital cities across the nation are making a comeback. Nationally, Adelaide continues to be the standout performer, posting an impressive 0.62% monthly increase.
Adelaide’s recent dip in dwelling values was a relatively mild event, with prices sliding only 2.4% from peak to trough. Since March, the market has risen a remarkable 3.5%.
Despite multiple interest rate adjustments, Adelaide property prices remained resilient, underpinned by a lower-than-average stock levels, affordable housing values, record-breaking migration, and consistent buyer demand.
With the RBA keeping the cash rate on hold this month and inflation coming in lower than expected for the quarter, it’s looking increasingly like the interest rate cycle is at or near a peak.
At Ouwens Casserly, we anticipate the number of listings to remain tight for this month, however, if you are considering a move, it may be prudent to consider bringing your timeline forward to take advantage of these lower competition levels. By doing so, you’ll position yourself more favorably for the upcoming selling season, which is projected to see an increase in inventory levels.
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.
