11 August 2023
Adelaide market update with Bronte Manuel
The volume of property sales in Adelaide has been typically lower through winter, but buyer competition shows no signs of slowing.
In fact, the latest report from property market analyst CoreLogic shows that Adelaide home values hit a record high last month, edging past the previous mark achieved in July 2022.
According to CoreLogic data, Adelaide dwelling values increased by 1.4 per cent for the month and 3.2 per cent for the past quarter, resulting in annual growth of 1 per cent.
That increase was consistent at all price points, too, with the lowest 25%, middle 50% and highest 25% of values rising by 3.4 per cent, 3.4 per cent and 3 per cent respectively.
At TOOP+TOOP, our results over the past month followed a similar pattern.
Adelaide dwelling values increased by 1.4 per cent for the month and 3.2 per cent for the past quarter
While our sales volumes dropped month-on-month by around 25 per cent to 44, the average price of those sales increased by close to 35 per cent to more than $1.36 million, our highest monthly average since last October.
Feedback from our sales team on the ground is that many quality listings are still receiving strong interest at levels beyond vendor expectations. That’s despite widespread media reports around the increased cost of living and a string of interest rate rises.
Adelaide property has certainly outperformed most Australian capital cities, with Perth the only other capital to register year-on-year growth in dwelling values. By comparison, Brisbane, Melbourne and Sydney values have dropped by 6.2 per cent, 4 per cent and 2.1 per cent respectively.
At a national level, home values are down 3.4 per cent annually, but declines are subsiding from an 8 per cent drop in the year to March. CoreLogic also predicts that annual growth may flatten later this year.
Despite continued strong sales results, stock levels remain sparse. Anecdotal evidence suggests that some vendors are hesitant to sell through fear of being unable to secure another suitable property.
CoreLogic reported there were fewer than 3800 homes advertised for sale in Adelaide over a four-week period, a 24.7 per cent decline on the equivalent period last year when listing levels were already considered to be lower than usual.
The volume of new listings to hit the market in Adelaide is also trending significantly lower, down 17.5 per cent compared with 12 months ago.
There are, however, early indications that listing levels may improve as we move into spring.
At TOOP+TOOP, we have certainly seen an increase in vendor inquiries in recent weeks.
This does coincide with the traditional peak selling season but also may be a result of investors looking to offload some property holdings due to affordability challenges.
For more of these stories visit toop.com.au/blog
Anecdotal evidence suggests that some vendors are hesitant to sell through fear of being unable to secure another suitable property.
ADELAIDE 2 Bed 2 Bath 1 Car 2404 / 421 King William Street $795,000 Kirk Fernandez 0430 311 799 Kirk.Fernandez@toop.com.au www.2404-421kingwilliam.toop.com.au Sat 12 August 12pm - 1pm Open: ASCOT PARK 3 Bed 2 Bath 2 Car 46A West Street $680,000 - $710,000 Debi Zecevich 0412 170 014 debi.zecevich@toop.com.au www.46awest.toop.com.au Sat 12 August 12pm - 12:30pm Open:
BROMPTON 3 Bed 1 Bath 1 Car 4 / 124 Chief Street Contact agent Thomas Crawford
Vincent Doran
www.4-124chief.toop.com.au Sat 12 August 12:15pm - 12:45pm Open: DULWICH 3 Bed 2 Bath 1 Car 3 Parkstone Avenue Contact agent Jordan Begley
jordan.begley@toop.com.au www.3parkstone.toop.com.au Sat 19 August 2:30pm on site Auction: Sat 12 August 12:30pm - 1pm Open:
0448 888 816
0466 229 880
0410 289 240
FERRYDEN PARK 3 Bed 2 Bath 3 Car 82 Sutherland Road Contact agent Thomas Crawford 0448 888 816 Vincent Doran 0466 229 880 www.82sutherland.toop.com.au Sat 12 August 1:15pm - 1:45pm Open: GLENELG EAST 2 Bed 1 Bath 1 Car 4 / 1 Third Avenue Contact agent Gena Nash 0408 828 415 Lew Toop 0419 888 893 www.4-1third.toop.com.au Sat 12 August 11:30am - 12pm Open:
Peter McMillan 0417 733 900
Glenn McMillan 0476 394 663
Gena Nash 0408 828 415 Lew Toop 0419 888 893
GLENELG NORTH 3 Bed 2 Bath 2 Car
Contact agent
14 Cygnet Court
Sun 13 August 11:45am - 12:30pm Open:
3 Bed 2 Bath 2 Car 1 / 41 Fisk Avenue Contact agent
www.1-41fisk.toop.com.au Sat 12 August 10am on site Auction: Sat 12 August 9:30am - 10am Open:
www.14cygnet.toop.com.au
GLENGOWRIE
HAWTHORN 4 Bed 2 Bath 2 Car
47 Angas Road $1,900,000
Glenn McMillan 0476 394 663
Peter McMillan 0417 733 900
www.47angas.toop.com.au Sat 19 August 11:30am on site
HIGHGATE
Auction: Sat 12 August 11:30am - 12:15pm Open:
3 Bed 2 Bath 2 Car
2D North Terrace $1,350,000
Peter McMillan 0417 733 900
Glenn McMillan 0476 394 663
www.2dnorth.toop.com.au Sat 19 August 1:30pm on site
Auction: Fri 11 August 2pm - 2:30pm Open:
Sharee Redic 0407 722 660
Cassandra Yeates 0407 871 851 www.55gladstone.toop.com.au
Thomas Crawford 0448 888 816
Jake Theo 0422 959 650
KILBURN 4 Bed 2 Bath 1 Car
Contact agent
55 Gladstone Avenue
Sat 12 August 12pm - 12:30pm Open: LOCKLEYS 6 Bed 3 Bath 4 Car
Contact agent
34 Lasscock Avenue
Sat 12 August 2:30pm - 3pm Open:
www.34lasscock.toop.com.au
MAGILL 2 Bed 1 Bath 1 Car 43A Penfold Road $680,000 Scott Thomson 0414 427 427 scott.thomson@toop.com.au www.43apenfold.toop.com.au Sat 19 August 1pm on site Auction: Sat 12 August 11am - 11:30am Open: MALVERN 4 Bed 2 Bath 2 Car 77 Winchester Street Contact agent Jordan Begley 0410 289 240 jordan.begley@toop.com.au www.77winchester.toop.com.au Sat 12 August 2:30pm - 3:15pm Open:
MARLESTON 3 Bed 2 Bath 2 Car
5A Allington Avenue
MEDINDIE
Auction: Sat 12 August 11:30am - 12pm Open:
$745,000 - $775,000 Julie Zanes 0438 886 113 julie.zanes@toop.com.au www.5aallington.toop.com.au
Sat 26 August 10:30am on site
5 Bed 2 Bath 2 Car
14A Darling Street Contact agent
Sally Cameron 0412 915 108 sally.cameron@toop.com.au www.14adarling.toop.com.au Sat 12 August 11:30am on site
Auction: Sat 12 August 11am - 11:30am Open:
NORTH ADELAIDE
197a Childers Street
Grant Wills 0419 865 829 grant.wills@toop.com.au
www.197achilders.toop.com.au
Contact agent
Sat 12 August 12pm - 12:15pm Open:
NORWOOD 3 Bed 2 Bath
33 Fisher Street Contact agent
Sally Cameron 0412 915 108 sally.cameron@toop.com.au www.33fisher.toop.com.au Sat 12 August 1:30pm on site
Auction: Sat 12 August 1pm - 1:30pm Open:
Begley 0410 289 240
/ 15 Hythe Street
Sharee Redic 0407 722 660 Kirk Fernandez 0430 311 799 www.4-15hythe.toop.com.au
PARKSIDE 3 Bed 2 Bath 2 Car 47
Contact agent Jordan
Sat 12 August 1:30pm - 2pm Open: RIDLEYTON 3 Bed 1 Bath 1 Car 4
$675,000 - $725,000
Sat 12 August 11am - 11:30am Open:
Robsart Street
jordan.begley@toop.com.au www.47robsart.toop.com.au
Sharee Redic 0407 722 660 Cassandra Yeates 0407 871 851
Thomas Crawford 0448 888 816
Jake Theo 0422 959 650
SEACOMBE GARDENS 3 Bed 2 Bath 1 Car 4B Wilga Street $589,000 - $629,000
www.4bwilga.toop.com.au Sat 12 August 1:30pm - 2pm Open: SEATON 3 Bed 1 Bath 2 Car 7
Contact agent
/ 235 Tapleys Hill Road
Sun 20 August 10am on site Auction: Sat 12 August 1:30pm - 2pm Open:
www.7-235tapleyshill.toop.com.au
ST CLAIR 2 Bed 1 Bath 1 Car 404 / 301 St Clair Avenue Contact agent Thomas Crawford 0448 888 816 Vincent Doran 0466 229 880 www.404-301stclair.toop.com.au Sat 12 August 11:15am - 11:45am Open: TAPEROO 3 Bed 1 Bath 2 Car 24 Ormiston Court Contact agent Thomas Crawford 0448 888 816 Vincent Doran 0466 229 880 www.24ormiston.toop.com.au Sat 12 August 10am - 10:30am Open:
0448 888 816
0422 959 650
0408 285 485
0413 879 889
TERINGIE 4 Bed 3 Bath 2 Car 1 Knoll Crescent Contact agent Thomas Crawford
Jake Theo
www.1knoll.toop.com.au Sat 12 August 10am - 10:30am Open: TOORAK GARDENS 4 Bed 2 Bath 2 Car 42 Chatsworth Grove $1,550,000 - $1,695,000 Sarah Jaensch
Nicole
www.42chatsworth.toop.com.au Sat 19 August 10am on site Auction: Sat 12 August 10:30am - 11am Open:
Neill
Jordan Begley 0410 289 240
TUSMORE 4 Bed 2 Bath 3 Car 2 Brandreth Street Contact agent Jordan
jordan.begley@toop.com.au www.2brandreth.toop.com.au Sat 12 August 10:30am - 11am Open: TUSMORE 3 Bed 2 Bath 5 Car 49 Northumberland Street Contact agent
www.49northumberland.toop.com.au Sat 12 August 11:30am - 12pm Open:
Begley 0410 289 240
jordan.begley@toop.com.au
Sally Cameron 0412 915 108
/ 56 Charles Street
Debi Zecevich 0412 170 014
debi.zecevich@toop.com.au
www.2-56charles.toop.com.au
TUSMORE 4 Bed 2 Bath 1 Car
Contact agent
3 Brandreth Street
Sat 19 August 11:30am on site Auction: Sat 12 August 10am - 10:30am Open: UNLEY 2 Bed 2 Bath 2 Car
$695,000
Sally.Cameron@toop.com.au www.3brandreth.toop.com.au
2
Sat 12 August 2pm - 2:30pm Open:
0422 429 939
Yuan 0433 402 255
0476 394 663
McMillan 0417 733 900
UNLEY PARK 4 Bed 3 Bath 2 Car 12A Glen Avenue $2,280,000 - $2,350,000 Ryan
Lalita
www.12aglen.toop.com.au Sat 12 August 11am - 11:30am Open: URRBRAE 2 Bed 1 Bath 1 Car 7 / 7 Grandview Avenue $590,000 Glenn
Peter
Sat 26 August 10:30am on site Auction: Sat 12 August 10am - 10:30am Open:
Yuan
McMillan
www.7-7grandview.toop.com.au
Sharee Redic 0407 722 660
Yeates 0407 871 851
Alfred Road
Thomas Crawford 0448 888 816 Jake Theo 0422 959 650
WALKERVILLE 5 Bed 2 Bath 2 Car 23
Contact agent
www.23burlington.toop.com.au Sat 12 August 10am - 10:30am Open: WEST CROYDON 3 Bed 2 Bath 3 Car 24
Contact agent
www.24alfred.toop.com.au Sun 13 August 10am - 10:30am Open:
Burlington Street
Cassandra
BANKSIA PARK 3 Bed 1 Bath 2 Car Scott Thomson Contact agent 0414 427 427 scott.thomson@toop.com.au www.vault.toop.com.au BLAIR ATHOL 6 Bed 2 Bath 4 Car Thomas Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
Thomas Crawford
0448 888 816
thomas.crawford@toop.com.au
www.vault.toop.com.au
BROMPTON
Thomas Crawford
0448 888 816
thomas.crawford@toop.com.au www.vault.toop.com.au
2 Bed 1 Bath 1 Car
BOWDEN
Contact agent
4 Bed 2 Bath 4 Car
Contact agent
COLLINSWOOD 3 Bed 1 Bath 1 Car Sharee Redic Contact agent 0407 722 660 sharee.redic@toop.com.au www.vault.toop.com.au FULHAM GARDENS 3 Bed 1 Bath 2 Car Grant Wills Contact agent 0419 865 829 grant.wills@toop.com.au www.vault.toop.com.au
0419 865 829
grant.wills@toop.com.au
www.vault.toop.com.au GOODWOOD
Grant Wills
0419 865 829
grant.wills@toop.com.au www.vault.toop.com.au
FULLARTON 2 Bed 2 Bath 1 Car
Contact agent
Grant Wills
5 Bed 2 Bath 3 Car
Contact agent
LOCKLEYS 4 Bed 1 Bath 4 Car Alexander Parzis Contact agent 0410 588 633 alexander.parzis@toop.com.au www.vault.toop.com.au MANNINGHAM 3 Bed 2 Bath 1 Car Sharee Redic Contact agent 0407 722 660 sharee.redic@toop.com.au www.vault.toop.com.au
MILE END 1 Bed 1 Bath Gena Nash Contact agent 0408 828 415 gena.nash@toop.com.au www.vault.toop.com.au NAILSWORTH 5 Bed 3 Bath 2 Car Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
NORTHGATE 3 Bed 2 Bath 2 Car Sharee Redic Contact agent 0407 722 660 sharee.redic@toop.com.au www.vault.toop.com.au PROSPECT 4 Bed 1 Bath 5 Car Grant Wills Contact agent 0419 865 829 grant.wills@toop.com.au www.vault.toop.com.au
Thomas Crawford
0448 888 816
thomas.crawford@toop.com.au
www.vault.toop.com.au
Thomas Crawford
0448 888 816
thomas.crawford@toop.com.au www.vault.toop.com.au
PROSPECT 4 Bed 2 Bath 4 Car
Contact agent
RENOWN PARK 4 Bed 2 Bath 4 Car
Contact agent
REYNELLA 3 Bed 2 Bath 1 Car Vincent Doran Contact agent 0466 229 880 vincent.doran@toop.com.au www.vault.toop.com.au SELLICKS BEACH 3 Bed 2 Bath 5 Car Anita Hardingham Contact agent 0413 335 706 anita.hardingham@toop.com.au www.vault.toop.com.au
ST PETERS 3 Bed 2 Bath 2 Car Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au ST PETERS 5 Bed 4 Bath 3 Car Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
STEPNEY 3 Bed 2 Bath 1 Car Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au VALE PARK 4 Bed 2 Bath 2 Car Jordan Begley Contact agent 0410 289 240 jordan.begley@toop.com.au www.vault.toop.com.au
WEST CROYDON
Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au WYNN VALE 3 Bed 2 Bath 2 Car Scott Thomson Contact agent 0414 427 427 scott.thomson@toop.com.au www.vault.toop.com.au
Thomas