21 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
16 Alfred Street
Thomas Crawford 0448 888 816
Jake Theo 0422 959 650 www.16alfred.toop.com.au
ADELAIDE 2 Bed 1 Bath 1 Car
Contact agent
Sat 29 July 1pm on site Auction: Sat 22 July 11am - 11:30am Open:
2 Bed 1 Bath
ADELAIDE
$650,000
Sun 2 July 2pm on site Auction: Sat 22 July 10:15am - 10:45am Open:
47 Dover Street
Jake Theo 0422 959 650
Thomas Crawford 0448 888 816 www.47dover.toop.com.au
508 / 2 Seventh Street
Thomas Crawford 0448 888 816
Jake Theo 0422 959 650
www.508-2seventh.toop.com.au
ALDINGA BEACH 4 Bed 2 Bath 2 Car
Contact agent
Sat 22 July 10am - 10:30am Open:
2 Bed 1 Bath 1 Car
BOWDEN
Contact agent
Sat 22 July 12:30pm - 1pm Open:
CROYDON PARK 2 Bed 1 Bath 1 Car 12 Hefford Avenue Contact agent Thomas Crawford 0448 888 816 Vincent Doran 0466 229 880 www.12hefford.toop.com.au Sat 22 July 11:30am - 12pm Open: CUDLEE CREEK 5 Bed 3 Bath 4 Car 79 Redden Drive Contact agent Sharee Redic 0407 722 660 Cassandra Yeates 0407 871 851 www.79redden.toop.com.au Sun 23 July 11am - 11:30am Open:
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 22 July 10am - 10:30am 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 22 July 2pm - 2:30pm Open:
GLENSIDE 3 Bed 1 Bath 2 Car 2 / 15 Amber Woods Drive $680,000 - $710,000 Debi Zecevich 0412 170 014 debi.zecevich@toop.com.au www.2-15amberwoods.toop.com.au Sat 22 July 12pm - 12:30pm Open: GOLDEN GROVE 3 Bed 1 Bath 1 Car 22 Mandarine Avenue Contact agent Scott Thomson 0414 427 427 scott.thomson@toop.com.au www.22mandarine.toop.com.au Sat 22 July 11:30am - 12pm Open:
40 Knightsbridge Road
Sally Cameron 0412 915 108
Contact agent
Sally.Cameron@toop.com.au www.40knightsbridge.toop.com.au Sat 22 July 11:30am on site
KENSINGTON 3 Bed 2 Bath 1 Car
87 High Street $1,350,000
Jordan Begley 0410 289 240
jordan.begley@toop.com.au www.87high.toop.com.au Sat 29 July 1:30pm on site
Auction: Sat 22 July 2pm - 2:30pm Open:
HAZELWOOD PARK 4 Bed 2 Bath 2 Car
Auction: Sat 22 July 11am - 11:30am Open:
KENSINGTON PARK 4 Bed 1 Bath 3 Car 9 Corinda Avenue Contact agent Vincent Doran 0466 229 880 Thomas Crawford 0448 888 816 www.9corinda.toop.com.au Sat 22 July 1:45pm - 2:15pm Open: KILBURN 4 Bed 2 Bath 1 Car 55 Gladstone Avenue Contact agent Sharee Redic 0407 722 660 sharee.redic@toop.com.au www.55gladstone.toop.com.au Sat 22 July 11am - 11:30am Open:
15 Seafield Avenue
Sally Cameron 0412 915 108 Sally.Cameron@toop.com.au www.15seafield.toop.com.au
9A Harrison Street
Julie Zanes 0438 886 113
julie.zanes@toop.com.au www.9aharrison.toop.com.au
KINGSWOOD 4 Bed 2 Bath 2 Car
Contact agent
Sat 22 July 1pm on site Auction: Sat 22 July 12:30pm - 1pm Open: MAGILL 3 Bed 2 Bath 2 Car
$915,000
Sat 5 August
on site Auction: Sat 22 July 11:30am - 12pm Open:
10:30am
MYRTLE
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 22 July 12:45pm - 1:30pm Open:
NORTH ADELAIDE 4 Bed 3 Bath 2 Car
66 Pennington Terrace
Sally Cameron 0412 915 108 sally.cameron@toop.com.au www.66pennington.toop.com.au
Contact agent
Open:
Sun 23 July 11:30am - 12pm
BANK 4 Bed 2 Bath 2 Car
NORTH ADELAIDE
197a Childers Street
Grant Wills 0419 865 829 grant.wills@toop.com.au
www.197achilders.toop.com.au
Contact agent
Sat 22 July 11:45am - 12pm Open:
NORWOOD 3 Bed 2 Bath 2 Car
8 Henry Street
Sally Cameron 0412 915 108
Contact agent
Julie Zanes 0438 886 113 www.8henry.toop.com.au Sun 30 July 10:30am on site
Auction: Sat 22 July 2:30pm - 3pm Open:
PARKSIDE
47 Robsart Street Contact agent
Jordan Begley 0410 289 240 jordan.begley@toop.com.au www.47robsart.toop.com.au
RIDLEYTON
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 22 July 11am - 11:30am Open:
3 Bed 2 Bath 2 Car
Sat 8 July 12pm on site Auction: Sat 22 July 3pm - 3:30pm Open:
3 Bed 1 Bath 1 Car
Alexander Parzis 0410 588 633
Hayley Parzis 0411 318 382
4B Wilga Street
Sharee Redic 0407 722 660
Cassandra Yeates 0407 871 851
ROSTREVOR 5 Bed 3 Bath 2 Car
Contact agent
23 Yalpara Avenue
Sat 22 July 11am - 11:30am Open: SEACOMBE GARDENS 3 Bed 2 Bath 1 Car
www.23yalpara.toop.com.au
Contact agent
www.4bwilga.toop.com.au Sat 22 July 10am - 10:30am Open:
0422 429 939
Yuan 0433 402 255
TUSMORE 4 Bed 2 Bath 3 Car 2 Brandreth Street $2,300,000 - $2,500,000 Jordan Begley
240 jordan.begley@toop.com.au www.2brandreth.toop.com.au Sat 22 July 1pm - 1:45pm Open: UNLEY PARK 4 Bed 3 Bath 2 Car 12A Glen Avenue Contact agent Ryan Yuan
Lalita
www.12aglen.toop.com.au Sat 22 July 11am - 11:30am Open:
0410 289
Cameron 0412 915 108
Crawford 0448 888 816
Theo 0422 959 650
WALKERVILLE 5 Bed 3 Bath 2 Car 165
Terrace Contact agent Sally
Sally.Cameron@toop.com.au www.165stephen.toop.com.au Sat 22 July 10am on site Auction: Sat 22 July 9:30am - 10am Open: WEST CROYDON 3 Bed 2 Bath 3 Car 24
$1,399,000 - $1,449,000 Thomas
Sat 22 July 11:30am - 12pm Open:
Stephen
Alfred Road
Jake
www.24alfred.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
3 Bed 1 Bath 1 Car
Contact agent
CROYDON 3 Bed 1 Bath 4 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
FULLARTON 6 Bed 3 Bath 3 Car Alexander Parzis Contact agent 0410 588 633 alexander.parzis@toop.com.au www.vault.toop.com.au GLENELG EAST 2 Bed 1 Bath 1 Car Gena Nash Contact agent 0408 828 415 gena.nash@toop.com.au www.vault.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 4 Bed 2 Bath 2 Car Scott Thomson Contact agent 0414 427 427 scott.thomson@toop.com.au www.vault.toop.com.au
0438 886 113
LOCKLEYS 5 Bed 3 Bath 4 Car
Contact agent
3 Bed 2 Bath 2 Car
Contact agent
Thomas Crawford
0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au MARLESTON
Julie Zanes
julie.zanes@toop.com.au www.vault.toop.com.au
MEDINDIE 4 Bed 2 Bath 2 Car
Contact agent
MEDINDIE 5 Bed 2 Bath 2 Car
Contact agent
Sally Cameron
0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
Sally Cameron
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 HAVEN 3 Bed 2 Bath 2 Car Gena Nash Contact agent 0408 828 415 gena.nash@toop.com.au www.vault.toop.com.au
NORWOOD 3 Bed 2 Bath Sally Cameron Contact agent 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au PORT MANNUM 3 Bed 1 Bath 2 Car James Lindsay Contact agent 0434 182 351 james.lindsay@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 TAILEM BEND Sarah Jaensch Contact agent 0408 285 485 sarah.jaensch@toop.com.au www.vault.toop.com.au
TOORAK GARDENS 4 Bed 2 Bath 2 Car Sarah Jaensch Contact agent 0408 285 485 sarah.jaensch@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 WEST CROYDON 3 Bed 1 Bath 1 Car Thomas Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au