14 July 2023
Adelaide market update with Bronte Manuel
The Adelaide property market continues to show remarkable stability, with home values here remaining steady through the past financial year despite a string of interest rate rises.
According to property market analyst CoreLogic, dwelling prices in Adelaide are the same as 12 months ago – and just 0.3 per cent below the record high of July 2022.
In fact, Adelaide home values rose by 0.9 per cent for the month and 2.1 per cent for the quarter after a mild dip earlier in the year.
That’s a remarkable result, given there were 10 official rate rises through the 2022-23 financial year.
By comparison, home values at a national level have dropped 5.3 per cent year on year, despite a recent bounce-back.
At TOOP+TOOP, we enjoyed a solid month, selling 59 properties at an average price just shy of $1 million.
Adelaide home values rose by 0.9 per cent for the month and 2.1 per cent for the quarter
Significantly, those homes sold in an average of 18 days, well below the broader industry average in South Australia of 30 days.
The past month capped off a strong 12 months of results for our business through 2022-23.
We sold more than $810 million worth of real estate during the period, at an average price of $1.14m.
That included 292 sales above $1m, 75 above $2m and 28 above $3m.
Our strength at the higher end of the market was highlighted by 11 sales of more than $4m and five above $5m, including a $7.75m sale in North Adelaide.
While we continue to achieve outstanding results for premium properties, CoreLogic reported that the lowest quartile of home values has achieved the strongest quarterly growth across Adelaide, up by 3 per cent compared with 2.4 per cent and 1.4 per cent for the middle and upper quartiles respectively.
A sparsity of stock remains a key reason that Adelaide dwelling values are holding firm.
This time last year we were talking about low stock levels when there were around 4600 properties on the market in Adelaide.
That number has now dropped to 3770.
The latest CoreLogic data shows that the volume of new listings to hit the market here is down 21.4 per cent compared with 12 months ago.
Given that sales volumes are down around 10 per cent over the same period, the competition for available homes remains very buoyant.
It’s also interesting to note CoreLogic estimates that a relatively high portion of new listings added to the market are investment properties. Their data shows investment properties comprise 32.7 per cent of new listings nationally, compared with the decade average of 25 per cent.
For more of these stories visit
A sparsity of stock remains a key reason that Adelaide dwelling values are holding firm.
toop.com.au/blog
275 Gilbert Street
Grant Wills 0419 865 829 grant.wills@toop.com.au www.275gilbert.toop.com.au
47 Dover Street
Jake Theo 0422 959 650
Thomas Crawford 0448 888 816 www.47dover.toop.com.au
2 Bed 1 Bath 1 Car
ADELAIDE
Contact agent
Sat 29 July 1pm on site Auction: Sat 15 July 11am - 11:30am Open:
Bed
Bath 2 Car
Contact agent
ALDINGA BEACH 4
2
Sat 15 July 10am - 10:30am Open:
16 Old Norton Summit Road
Alexander Parzis 0410 588 633
Hayley Parzis 0411 318 382
www.16oldnortonsummit.toop.com.au
BOWDEN 2 Bed 1 Bath 1 Car
508 / 2 Seventh Street
Thomas Crawford 0448 888 816
Jake Theo 0422 959 650 www.508-2seventh.toop.com.au
Contact agent
Bath 6 Car
AULDANA 7 Bed 3
Contact agent
Sat 15 July 11am on site Auction: Sat 15 July 10:30am
11am Open:
-
Sat 15 July 1pm - 1:30pm Open:
Sharee Redic 0407 722 660
Yeates 0407 871 851 www.16planetree.toop.com.au
BROADVIEW 4 Bed 2 Bath 3 Car 7 Brooke
Contact agent Sharee Redic
sharee.redic@toop.com.au www.7brooke.toop.com.au Sat 15 July 12:15pm - 12:45pm Open: CRAIGMORE 4 Bed 2 Bath 2 Car 16
$575,000
Cassandra
Sun 16 July 11:30am on site Auction: Fri 14 July 11:45am - 12:15pm Open:
Street
0407 722 660
Plane Tree Drive
FULLARTON 4 Bed 2 Bath 2 Car 8 Roseberry Avenue Contact agent Sharee Redic 0407 722 660 sharee.redic@toop.com.au www.8roseberry.toop.com.au Sat 15 July 11:15am - 11:45am Open: GLENELG EAST 2 Bed 1 Bath 1 Car 5 / 1 Sixth Avenue Contact agent Alexander Parzis 0410 588 633 Hayley Parzis 0411 318 382 www.5-1sixth.toop.com.au Sat 22 July 2:30pm on site Auction: Sat 15 July 3:30pm - 4pm Open:
5 Highview Circuit
Jake Theo 0422 959 650
Thomas Crawford 0448 888 816
40 Knightsbridge Road
Sally Cameron 0412 915 108
sally.cameron@toop.com.au
4 Bed 2 Bath 4 Car
GREENWITH
Contact agent
10:30am Open:
4
www.5highview.toop.com.au Sun 16 July 10am -
HAZELWOOD PARK
Bed 2 Bath 2 Car
Contact
agent
Sun
Open:
www.40knightsbridge.toop.com.au Sat 22 July 11:30am on site Auction:
16 July 1:30pm - 2pm
KENSINGTON 3 Bed 2 Bath 1 Car 87
$1,350,000
Sat 29 July 1:30pm on site Auction: Sat 15 July 11am - 11:45am Open: KILBURN 4 Bed 2 Bath 1 Car 55 Gladstone Avenue Contact agent
sharee.redic@toop.com.au
Sat 15 July 2:15pm - 2:45pm Open:
High Street
Jordan Begley 0410 289 240 jordan.begley@toop.com.au www.87high.toop.com.au
Sharee Redic 0407 722 660
www.55gladstone.toop.com.au
KINGSWOOD
15 Seafield Avenue
Sally Cameron 0412 915 108 Sally.Cameron@toop.com.au www.15seafield.toop.com.au
19 Dragoon Lane Contact
Thomas Crawford 0448 888 816
Vincent Doran 0466 229 880 www.19dragoon.toop.com.au
4 Bed 2 Bath 2 Car
Contact agent
Sat 22
1pm on site
Sun
Open:
July
Auction:
16 July 3pm - 3:30pm
LIGHTSVIEW 3 Bed 2 Bath 2 Car
agent
Sat 15 July 12pm - 12:30pm Open:
MILE END 4 Bed 2 Bath 4 Car 2A Darebin Street Contact agent Thomas Crawford 0448 888 816 Vincent Doran 0466 229 880 www.2adarebin.toop.com.au Sat 15 July 2pm - 2:30pm Open: MYRTLE BANK 4 Bed 2 Bath 2 Car 21 Riverdale Road Contact agent Grant Wills 0419 865 829 grant.wills@toop.com.au www.21riverdale.toop.com.au Sat 29 July 10:30am on site Auction: Sat 15 July 12:15pm - 1pm Open:
NORWOOD 3 Bed 2 Bath 2 Car
8 Henry Street
Sally Cameron 0412 915 108
Julie Zanes 0438 886 113
www.8henry.toop.com.au
Contact agent
Open:
47 Robsart Street
Jordan Begley 0410 289 240
Auction: Sun 16 July 10:30am - 11am
Sun 30 July 10:30am on site
PARKSIDE 3 Bed 2 Bath 2 Car
Contact agent
jordan.begley@toop.com.au www.47robsart.toop.com.au Sat 8 July 12pm on site
Auction: Sat 15 July 12:30pm - 1pm
Open:
RIDLEYTON 3 Bed 1 Bath 1 Car 4 / 15 Hythe Street $675,000 - $725,000 Sharee Redic 0407 722 660 Kirk Fernandez 0430 311 799 www.4-15hythe.toop.com.au Sat 15 July 1:15pm - 1:45pm Open: ROSTREVOR 5 Bed 3 Bath 2 Car 23 Yalpara Avenue Contact agent Alexander Parzis 0410 588 633 Hayley Parzis 0411 318 382 www.23yalpara.toop.com.au Sat 15 July 1:30pm - 2pm Open:
4B Wilga Street
Sharee Redic 0407 722 660
Cassandra Yeates 0407 871 851 www.4bwilga.toop.com.au
Ryan Yuan 0422 429 939
Lalita Yuan 0433 402 255 www.12aglen.toop.com.au
SEACOMBE GARDENS 3 Bed 2 Bath 1 Car
Contact agent
Sat 15 July 10am - 10:30am Open: UNLEY PARK 4 Bed 3 Bath 2 Car
Contact agent
12A Glen Avenue
Sat 15 July 2pm - 2:30pm Open:
Cameron 0412 915 108
Crawford 0448 888 816 Jake Theo 0422 959 650 www.24alfred.toop.com.au
WALKERVILLE 5 Bed 3 Bath 2 Car 165
Contact agent
Sat 22 July 10am on site Auction: Sun 16 July 12pm - 12:30pm Open: WEST CROYDON 3 Bed 2 Bath 3 Car 24
$1,399,000 - $1,449,000
Sun 16 July 11:30am - 12pm Open:
Stephen Terrace
Sally
Sally.Cameron@toop.com.au www.165stephen.toop.com.au
Alfred Road
Thomas
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
3 Bed 1 Bath 1 Car
Contact agent
COLLEGE PARK 5 Bed 2 Bath 2 Car Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au CRAFERS 3 Bed 2 Bath 2 Car Anita Hardingham Contact agent 0413 335 706 anita.hardingham@toop.com.au www.vault.toop.com.au
CROYDON PARK 2 Bed 1 Bath 1 Car Thomas Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au DERNANCOURT 3 Bed 1 Bath 1 Car Sharee Redic Contact agent 0407 722 660 sharee.redic@toop.com.au www.vault.toop.com.au
EVERARD PARK 2 Bed 1 Bath 1 Car Gena Nash Contact agent 0408 828 415 gena.nash@toop.com.au www.vault.toop.com.au FERRYDEN PARK 3 Bed 2 Bath 2 Car Thomas Crawford Contact agent 0448 888 816
www.vault.toop.com.au
thomas.crawford@toop.com.au
GLENGOWRIE 3 Bed 2 Bath 2 Car Gena Nash Contact agent 0408 828 415 gena.nash@toop.com.au www.vault.toop.com.au GOLDEN GROVE 3 Bed 1 Bath 1 Car Scott Thomson Contact agent 0414 427 427 scott.thomson@toop.com.au www.vault.toop.com.au
jordan.begley@toop.com.au www.vault.toop.com.au
GOLDEN GROVE 4 Bed 2 Bath 2 Car
Thomson Contact agent
HAZELWOOD PARK 4 Bed 3 Bath 2 Car
Contact agent
Scott
0414 427 427 scott.thomson@toop.com.au www.vault.toop.com.au
Jordan Begley
0410 289 240
LOCKLEYS 5 Bed 3 Bath 4 Car Thomas Crawford Contact agent 0448
www.vault.toop.com.au MEDINDIE 5 Bed 2 Bath 2 Car Sally Cameron Contact agent 0412
108
www.vault.toop.com.au
888 816 thomas.crawford@toop.com.au
915
sally.cameron@toop.com.au
MEDINDIE 5 Bed 2 Bath 2 Car Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au NORMANVILLE Anita Hardingham Contact agent 0413 335 706 anita.hardingham@toop.com.au www.vault.toop.com.au
NORTH ADELAIDE 5 Bed 3 Bath 2 Car Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au NORWOOD 3 Bed 1 Bath Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
ROSTREVOR 6 Bed 4 Bath 5 Car Ryan Yuan Contact agent 0422 429 939 ryan.yuan@toop.com.au www.vault.toop.com.au SEATON 5 Bed 4 Bath 3 Car Grant Wills Contact agent 0419 865 829 grant.wills@toop.com.au www.vault.toop.com.au
SEMAPHORE PARK 4 Bed 3 Bath 2 Car Sharee Redic Contact agent 0407 722 660 sharee.redic@toop.com.au www.vault.toop.com.au TRINITY GARDENS 6 Bed 3 Bath 5 Car Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
TUSMORE 4 Bed 2 Bath 2 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