Tag archive: Adelaide

Adelaide’s Real Estate Market Continues Speedy Sales Boom

Real estate Adelaide continues its boom as houses sell up to four times as fast as they did a year ago.

According to realestate.com.au data for the six months to April 30, Gilberton is the fastest selling suburb for houses with median time of 13 days on the market. This is a significant improvement from 35 days for the same period last year.

Hyde Park and Sefton Park houses follow with median market time of 17 days, while Clarence Gardens and Melrose Park houses sell in 18 days.

For units, Kensington Gardens rises to the top with 19 days, less than a third of last year’s 65 day median. It is followed by Brompton with 20 days and Klemzig with 22 days, way down from its 88 days last year.

Realestate.com.au chief economist Nerida Conisbee said sale times would continue to go down due to the declining stock trend over the winter.

When is the Best Time of the Year to Buy Property?

As 2017 is ending soon, it is the perfect time to set your financial goals and plans for the next year. This might include buying property. However, what time of the year would be the best to purchase real estate in Australia?

Experts vary on their opinion. Advantage Property Consulting director Frank Valentic said the end of the year marks the “prime buying time”, due to the lead-up to the Christmas holiday.

“At this time of the year, particularly leading up to Christmas, some vendors are getting very keen to be done and dusted … They want to get a deal done this side of Christmas and go off on holidays and not worry about inspections and cleaning the house,” Valentic told news.com.au.

John Cunningham, president at Real Estate Institute NSW, also has similar views. “Many sellers will have already bought their next home and will be under a lot of pressure to sell before the real estate industry shuts down over January,” Cunningham told the Daily Telegraph.

However, the right time to buy also depends on other matters, such as seasons and personal conditions. For example, spring and summer are the best times to inspect coastal houses, while winter and autumn would be better suited for regional villas.

If you need more advice on property buying, consider consulting local real estate agents to find out more information about market trends and best purchasing times.