Why now is the time to sell South Australian property

Date: 2021-14-01 19:39:01

Why now is the time to sell South Australian property?

Homeowners considering selling their Adelaide properties should put them on the market now, industry experts urge.

Latest CoreLogic figures reveal there are more than 2700 fewer properties for sale across Adelaide compared to the same time last year.

Real estate agents say the lack of properties for sale combined with strong demand have created the ideal selling conditions.

According to the CoreLogic figures, the number of properties listed for sale has dipped 36.8 per cent over the past year, from 7401 during the 28 days ending January 12 in 2020 to 4679 during the same period ending January 10 this year.

The number of new listings were also down but only slightly – 9.3 per cent from 761 to 690 during the same periods.

In regional SA, there were 4315 properties listed for sale in the month to January 10 compared to 6761 at the same time last year.

Alex Ouwens said early signs showed the strong market was set to record good growth this year.

While waiting to see how much prices climbed over the next six to 12 months then selling might be beneficial, Mr Casserly said prospective sellers might miss a good opportunity now.

“The anecdotal evidence is that there are multiple offers coming in on properties and agents that felt like the asking price on some properties was a little bit high, those prices are being achieved,” he said.

“Generally speaking it feels like the vibe is really good out there.

“If you’re looking to sell your property, why wouldn’t you like to do it early in the year when it’s all positive right now?”

“We’ve never seen more interstate purchasers buying in Adelaide or making offers,” he said.

Travis Denham said it was “crazy” how many inquiries his agency was getting on properties, many of which were attracting multiple offers.

“It’s crazy how many inquiries there are,” he said.

“I’ve been in the game for 10 years now and I’ve never seen it as good as it is now.

“If you want to sell, do it now because there is an under supply and there are buyers galore.

“I think we will have more vendors realise that and bring their properties to market in the next few months.”

Nationwide, CoreLogic research director Tim Lawless expected housing markets to recommence where they left off in 2020, where momentum was building in both activity and capital gains.




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