22 March 2024
Adelaide market update with Bronte Manuel
Several key property trends emerged in Adelaide as we moved into the new selling year.
Our real estate market again outperformed the other capital cities last month, demonstrating remarkable strength and underlining exceptional resilience as cost-of-living pressures became more apparent.
According to the latest data from property market analyst CoreLogic, dwelling values in Adelaide rose by 1.3 per cent last month, marking an 8.8 per cent increase over the past year and a 3.7 per cent increase over the quarter. As a result, our property values remain at record levels.
By comparison, Canberra, Darwin, Hobart, and Sydney saw declines in dwelling values over the same period. Adelaide’s annual growth rate is particularly impressive, surpassing Brisbane (8.4%), Melbourne (0.5%), and Sydney (-0.1%).
A sparsity of stock remains a key market driver.
Nationally, CoreLogic estimates a 2.8 per cent decrease in sales volumes over the past year compared with the same period 12 months earlier. However, the volume of sales for the combined capital cities remained virtually unchanged, suggesting resilience in metropolitan markets. In Adelaide, sales volumes were relatively steady, down just 1.1 per cent compared with the same time last year.
A sparsity of stock remains a key market driver.
With very few new listings, especially over the Christmas/New Year period, competition for available homes has been strong, with a number of properties selling for prices well beyond initial vendor expectations.
While recent anecdotal evidence from our team suggests stock levels may improve in 2024, demand is still likely to outweigh supply.
TOOP+TOOP has performed exceptionally well within this context.
With 50 sales last month, an average sale price of $1,343,750, and an average of 22 days on market, our performance significantly surpassed the broader trends.
This highlights our ability to achieve premium prices and quick sales in a market that, while slowing nationally, remains quite buoyant in Adelaide.
Our reach across social media platforms, exceeding 375,000, has likely contributed to our strong performance, allowing us to effectively market properties to a wide audience and drive competitive interest in our listings.
In summary, the Adelaide property market has shown resilience and growth in a year where other cities have experienced declines.
TOOP+TOOP has capitalised on this strength, outperforming market averages in sales and days on market.
Despite the traditional year-end slowdown, our performance and Adelaide’s overall market trends suggest continued opportunities for discerning investors and homebuyers.
Our performance significantly surpassed the broader trends.
toop.com.au/blog
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ADELAIDE 1 Bed 1 Bath 209 / 185 Morphett Street $335,000 - $360,000 Jordan Begley 0410 289 240 jordan.begley@toop.com.au www.209-185morphett.toop.com.au Sat 23 March 2pm - 2:30pm Open: ADELAIDE 3 Bed 2 Bath 2 Car 129 Ifould Street Contact agent Sharee Redic 0407 722 660 Cassandra Yeates 0407 871 851 www.129ifould.toop.com.au Sat 23 March 11:15am - 11:45am Open:
BLACK FOREST 3 Bed 1 Bath 1 Car 8 / 20 Hartland Avenue $595,000 Grant Wills 0419 865 829 grant.wills@toop.com.au www.8-20hartland.toop.com.au Sat 6 April 3pm on site Auction: Sat 23 March 1:15pm - 1:45pm Open: CHERRY GARDENS 107 Star And Arrow Road Contact agent James Lindsay 0434 182 351 Rowena Coleiro 0423 187 007 www.107starandarrow.toop.com.au Sun 24 March 1pm - 1:45pm Open:
CROYDON 4 Bed 2 Bath 2 Car 19 Robert Street Contact agent Thomas Crawford 0448 888 816 Sally Cameron 0412 915 108 www.19robert.toop.com.au Sat 23 March 1:30pm - 2pm Open: FREWVILLE 3 Bed 2 Bath 2 Car 101 Conyngham Street $1,400,000 - $1,540,000 Grant Wills 0419 865 829 grant.wills@toop.com.au www.101conyngham.toop.com.au Sat 23 March 11:30am - 12pm Open:
GILBERTON 6 Bed 3 Bath 2 Car 15 James Street Contact agent Sally Cameron 0412 915 108 Sally.Cameron@toop.com.au www.15james.toop.com.au Sat 23 March 12:30pm - 1pm Open: GLENELG EAST 3 Bed 1 Bath 3 Rugless Terrace Contact agent
Nash 0408 828 415 Lew Toop 0419 888 893 www.3rugless.toop.com.au Sat 23 March 3:30pm on site Auction: Sat 23 March 3pm - 3:30pm Open:
Gena
GLENSIDE 2 Bed 1 Bath 3 Car 31 Cator Street Contact agent Grant Wills 0419 865 829 grant.wills@toop.com.au www.31cator.toop.com.au Sat 6 April 12:30pm on site Auction: Sat 23 March 12:15pm - 12:45pm Open: HAWTHORN 3 Bed 2 Bath 2 Car 24A William Street $1,595,000 Peter McMillan 0417 733 900 Glenn McMillan 0476 394 663 www.24awilliam.toop.com.au Sat 23 March 10am - 10:30am Open:
HAWTHORN 4 Bed 2 Bath 3 Car 121 Cross Road $1,550,000 Peter McMillan 0417 733 900 Glenn McMillan 0476 394 663 www.121cross.toop.com.au Sat 6 April 1:30pm on site Auction: Sat 23 March 11am - 11:45am Open: HIGHBURY 3 Bed 3 Bath 4 Car 57 Beckman Avenue Contact agent Sharee Redic 0407 722 660 Cassandra Yeates 0407 871 851 www.57beckman.toop.com.au Wed 27 March 6pm on site Auction: Sat 23 March 1:15pm - 1:45pm Open:
MOUNT BARKER 3 Bed 1 Bath 4 Car 62 Alexandrina Road Contact agent James Lindsay 0434 182 351 james.lindsay@toop.com.au www.62alexandrina.toop.com.au Sun 24 March 11am - 11:30am Open: NETHERBY 4 Bed 2 Bath 2 Car 532 Fullarton Road $2,000,000 Glenn McMillan 0476 394 663 Peter McMillan 0417 733 900 www.532fullarton.toop.com.au Sat 23 March 12:15pm - 12:45pm Open:
NORTH ADELAIDE 2 Bed 1 Bath 1 Car 27 / 55 Melbourne Street Contact agent Sharee Redic 0407 722 660 Cassandra Yeates 0407 871 851 www.27-55melbourne.toop.com.au Sat 23 March 12:15pm - 12:45pm Open: NORTHFIELD 3 Bed 1 Bath 2 Car 5 Bond Street Contact agent
Theo 0422 959 650 Thomas Crawford 0448 888 816 www.5bond.toop.com.au Sat 23 March 2:30pm - 3pm Open:
Jake
3
Ryan
38
Grant
NORWOOD 4 Bed 2 Bath 1 Car
Cypress Street Contact agent
Yuan 0422 429 939
Yuan 0433 402 255 www.3cypress.toop.com.au Sat 23 March 12pm - 12:30pm Open: NORWOOD 2 Bed 1 Bath 1 Car
Lalita
William Street Contact agent
Wills 0419 865 829
www.38william.toop.com.au Sat 6 April 10am on site Auction: Sat 23 March 10:30am - 11am Open:
grant.wills@toop.com.au
POORAKA 3 Bed 1 Bath 1 Car 1 / 4-6 Pratt Avenue Contact agent Scott Thomson 0414 427 427 scott.thomson@toop.com.au www.1-4pratt.toop.com.au Sat 23 March 11am - 11:45am Open: RIDLEYTON 2 Bed 1 Bath 1 Car 7 / 193 South Road Contact agent Vincent Doran 0466 229 880 Thomas Crawford 0448 888 816 www.7-193south.toop.com.au Sat 23 March 11am - 11:30am Open:
ROSTREVOR 2 Bed 1 Bath 1 Car 13 / 5 Trewren Avenue Contact agent Vincent Doran 0466 229 880 Thomas Crawford 0448 888 816 www.13-5trewren.toop.com.au Sat 23 March 2pm - 2:30pm Open: ROSTREVOR 3 Bed 2 Bath 2 Car 14 Chapel Way Contact agent
Cameron 0412 915 108 sally.cameron@toop.com.au www.14chapel.toop.com.au Sat 23 March 11am - 11:30am Open:
Sally
SEACOMBE HEIGHTS 4 Bed 3 Bath 4 Car 109 Braeside Avenue $1,650,000 Sharee Redic 0407 722 660 Cassandra Yeates 0407 871 851 www.109braeside.toop.com.au Sat 23 March 10am - 10:30am Open: WALKERVILLE 3 Bed 2 Bath 2 Car 31B Brunswick Street Contact agent Sally Cameron 0412 915 108 sally.cameron@toop.com.au www.31bbrunswick.toop.com.au Sat 23 March 11am - 11:30am Open:
WEST BEACH 6 Bed 3 Bath 6 Car 104 Seaview Road Contact agent Gena Nash 0408 828 415 Lew Toop 0419 888 893 www.104seaview.toop.com.au Sat 23 March 1:30pm - 2pm Open: WEST CROYDON 4 Bed 1 Bath 3 Car 24 Margaret Avenue Contact agent Thomas Crawford 0448 888 816 Vincent Doran 0466 229 880 www.24margaret.toop.com.au Sun 24 March 2pm on site Auction: Sat 23 March 10am - 10:30am Open:
WEST HINDMARSH 5 Bed 2 Bath 2 Car 23 Glanton Street Contact agent Thomas Crawford 0448 888 816 Vincent Doran 0466 229 880 www.23glanton.toop.com.au Sat 23 March 11am - 11:30am Open:
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
BOWDEN 2 Bed 1 Bath 1 Car
Contact agent
BROMPTON 3 Bed 1 Bath 1 Car
Contact agent
BROOKLYN PARK 3 Bed 1 Bath 2 Car Thomas Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au CAMPBELLTOWN 4 Bed 2 Bath 4 Car Ben Scadden Contact agent 0401 573 580
www.vault.toop.com.au
ben.scadden@toop.com.au
ryan.yuan@toop.com.au
DEVON PARK 3 Bed 2 Bath 1 Car Thomas Crawford Contact agent
888 816
www.vault.toop.com.au GLEN OSMOND 4 Bed 2 Bath 2 Car Ryan Yuan Contact agent
429 939
0448
thomas.crawford@toop.com.au
0422
www.vault.toop.com.au
Grant
0419
grant.wills@toop.com.au
www.vault.toop.com.au KENSINGTON
Sally
0412 915 108
sally.cameron@toop.com.au
www.vault.toop.com.au
KENSINGTON PARK 3 Bed 3 Bath 2 Car
Wills Contact agent
865 829
PARK 4 Bed 3 Bath 2 Car
Cameron Contact agent
0466
vincent.doran@toop.com.au
KILKENNY 3 Bed 2 Bath 1 Car
Crawford Contact agent
888 816
Thomas
0448
LARGS NORTH 3 Bed 1 Bath 7 Car
Doran Contact agent
thomas.crawford@toop.com.au www.vault.toop.com.au
Vincent
229 880
www.vault.toop.com.au
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
Bed 2 Bath 2 Car
MEDINDIE 5
Contact agent
Bed 2 Bath 2 Car
NORWOOD 4
Contact agent
PARADISE 4 Bed 2 Bath 2 Car Sharee Redic Contact agent
722 660
www.vault.toop.com.au SALISBURY 4 Bed 3 Bath 8 Car Jake Theo Contact agent
959 650
www.vault.toop.com.au
0407
sharee.redic@toop.com.au
0422
jake.theo@toop.com.au
0410
alexander.parzis@toop.com.au www.vault.toop.com.au
0422
ryan.yuan@toop.com.au
www.vault.toop.com.au
SKYE 3 Bed 2 Bath 2 Car
Parzis Contact agent
Alexander
588 633
ST GEORGES 3 Bed 1 Bath 2 Car Ryan Yuan Contact agent
429 939
Sally
0412 915 108
sally.cameron@toop.com.au
www.vault.toop.com.au
Sally
0412 915 108
sally.cameron@toop.com.au
www.vault.toop.com.au
ST PETERS 4 Bed 2 Bath 4 Car
Cameron Contact agent
TANUNDA 5 Bed 3 Bath 10 Car
Cameron Contact agent
Peter
0417 733 900
peter.mcmillan@toop.com.au
www.vault.toop.com.au
Ryan
0422 429 939
ryan.yuan@toop.com.au
www.vault.toop.com.au
TOORAK GARDENS 4 Bed 2 Bath 2 Car
McMillan Contact agent
TOORAK GARDENS 3 Bed 3 Bath 4 Car
Yuan Contact agent
Sally
0412 915 108
sally.cameron@toop.com.au
www.vault.toop.com.au
Thomas
0448 888 816
thomas.crawford@toop.com.au
www.vault.toop.com.au
WATTLE PARK 4 Bed 3 Bath 6 Car
Cameron Contact agent
WEST CROYDON 3 Bed 1 Bath 2 Car
Crawford Contact agent
Thomas Crawford
0448 888 816
thomas.crawford@toop.com.au
www.vault.toop.com.au
Thomas
0448 888 816
thomas.crawford@toop.com.au
www.vault.toop.com.au
WEST CROYDON 3 Bed 1 Bath 1 Car
Contact agent
NORTH 3 Bed 1 Bath 4 Car
WOODVILLE
Contact agent
Crawford