28 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.
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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
Jake Theo 0422 959 650 Thomas Crawford 0448 888 816 www.47dover.toop.com.au
ADELAIDE 2 Bed 1 Bath 1 Car
Contact agent
Sat 29 July 1pm on site Auction: Sat 29 July 12:30pm - 1pm Open: ALDINGA BEACH 4 Bed 2 Bath 2 Car 47
Contact agent
Sat 29 July 10am - 10:30am Open:
Dover Street
4 Pellew Avenue
Ryan Yuan 0422 429 939
Lalita Yuan 0433 402 255 www.4pellew.toop.com.au
508 / 2 Seventh Street
Thomas Crawford 0448 888 816
Jake Theo 0422 959 650 www.508-2seventh.toop.com.au
AULDANA 6 Bed 3 Bath 4 Car
Contact agent
Sat 29 July 10:30am - 11:30am Open:
2 Bed 1 Bath 1 Car
BOWDEN
$479,000 - $519,000
Sat 29 July 12pm - 12:30pm 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 29 July 1pm - 1:30pm 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 30 July 11am - 11:30am Open:
EVERARD PARK 2 Bed 1 Bath 1 Car 19 / 3 Orchard Avenue Contact agent Gena Nash 0408 828 415 Lew Toop 0419 888 893 www.19-3orchard.toop.com.au Sat 29 July 1:45pm - 2:15pm Open: GLENELG 4 Bed 2 Bath 2 Car 3 Eitzen Street $1,190,000 - $1,290,000 Jordan Begley 0410 289 240 jordan.begley@toop.com.au www.3eitzen.toop.com.au Sat 29 July 11am - 11:45am Open:
GLENELG EAST 2 Bed 1 Bath 1 Car 4 / 1 Third Avenue Contact agent Gena Nash 0408 828 415 gena.nash@toop.com.au www.4-1third.toop.com.au Sat 29 July 12pm - 12:30pm Open: GLENELG NORTH 3 Bed 2 Bath 2 Car 14 Cygnet Court Contact agent Peter McMillan 0417 733 900 Glenn McMillan
www.14cygnet.toop.com.au Sat 29 July 11am - 11:45am Open:
0476 394 663
GLENGOWRIE 3 Bed 2 Bath 2 Car 1 / 41 Fisk Avenue Contact agent Gena Nash 0408 828 415 Lew Toop 0419 888 893 www.1-41fisk.toop.com.au Sat 12 August 10am on site Auction: Sat 29 July 12:45pm - 1:15pm Open: GLENSIDE 3 Bed 1 Bath 2 Car 2 / 15 Amber Woods Drive $680,000 - $710,000
Zecevich
www.2-15amberwoods.toop.com.au Sat 29 July 2pm - 2:30pm Open:
Debi
0412 170 014 debi.zecevich@toop.com.au
GOLDEN GROVE 4 Bed 2 Bath 2 Car 11 Blainey Court Contact agent Scott Thomson 0414 427 427 scott.thomson@toop.com.au www.11blainey.toop.com.au Sat 29 July 11am - 11:45am 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 29 July 11am - 11:30am Open:
KILBURN 4 Bed 2 Bath 1 Car 55 Gladstone Avenue Contact agent Sharee Redic 0407 722 660 Cassandra Yeates 0407 871 851 www.55gladstone.toop.com.au Sat 29 July 1pm - 1:30pm Open: MAGILL 3 Bed 2 Bath 2 Car 9A Harrison Street $915,000 Julie Zanes 0438 886 113 julie.zanes@toop.com.au www.9aharrison.toop.com.au Sat 5 August 10:30am on site Auction: Sat 29 July 11:30am - 12pm Open:
MEDINDIE
14A Darling Street Contact agent
Sally Cameron 0412 915 108 Sally.Cameron@toop.com.au www.14adarling.toop.com.au
21 Riverdale Road
Grant Wills 0419 865 829 grant.wills@toop.com.au www.21riverdale.toop.com.au
Open:
Sat 12 August 11:30am on site
Auction: Sun 30 July 10am - 10:30am
MYRTLE BANK 4 Bed 2 Bath 2 Car
Contact agent
Open:
Sat 29 July 10:30am on site
Auction: Sat 29 July 10am - 10:30am
5 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
Open:
Contact agent
Sat 29 July 2:30pm - 2:45pm
NORWOOD 3 Bed 2 Bath
33 Fisher Street
Sally Cameron 0412 915 108
sally.cameron@toop.com.au www.33fisher.toop.com.au
Open:
Auction:
Contact agent
Sun 30 July 11am - 11:30am
Sat 12 August 1:30pm on site
Redic 0407 722 660
Fernandez 0430 311 799 www.4-15hythe.toop.com.au
PARKSIDE 3 Bed 2 Bath 2 Car 47 Robsart
Contact agent Jordan Begley
jordan.begley@toop.com.au www.47robsart.toop.com.au Sat 29 July 12:15pm - 12:45pm Open: RIDLEYTON 3 Bed 1 Bath 1 Car 4
$675,000 - $725,000
Kirk
Sat 29 July 12pm - 12:30pm Open:
Street
0410 289 240
/ 15 Hythe Street
Sharee
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 29 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 29 July 10am - 10:30am Open:
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 29 July 2pm - 2:30pm Open: TUSMORE 3 Bed 2 Bath 5 Car 49 Northumberland Street Contact agent Jordan Begley 0410 289 240 jordan.begley@toop.com.au www.49northumberland.toop.com.au Sat 29 July 2pm - 2:45pm Open:
TUSMORE 4 Bed 2 Bath 3 Car 2 Brandreth Street $2,300,000 - $2,500,000 Jordan Begley 0410 289 240 jordan.begley@toop.com.au www.2brandreth.toop.com.au Sat 29 July 1:15pm - 1:45pm Open: UNLEY PARK 4 Bed 3 Bath 2 Car 12A Glen Avenue Contact agent Ryan Yuan 0422 429 939 Lalita Yuan
www.12aglen.toop.com.au Sat 29 July 12:30pm - 1pm Open:
0433 402 255
WALKERVILLE 5 Bed 3 Bath 2 Car 165 Stephen Terrace Contact agent Sally Cameron 0412 915 108 Sally.Cameron@toop.com.au www.165stephen.toop.com.au Sat 22 July 10am on site Auction: Sun 30 July 11:45am - 12:15pm Open: WEST CROYDON 3 Bed 2 Bath 3 Car 24 Alfred Road $1,399,000 - $1,449,000 Thomas Crawford 0448 888 816 Jake Theo 0422 959 650 www.24alfred.toop.com.au Sat 29 July 2pm - 2:30pm Open:
ADELAIDE 2 Bed 2 Bath 1 Car Kirk Fernandez Contact agent 0430
kirk.fernandez@toop.com.au www.vault.toop.com.au ADELAIDE 2 Bed 1 Bath 1 Car Thomas Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
311 799
ASHFORD 3 Bed 1 Bath 1 Car Grant Wills Contact agent 0419 865 829 grant.wills@toop.com.au www.vault.toop.com.au BLAIR ATHOL 6 Bed 2 Bath 4 Car Thomas Crawford Contact agent 0448 888 816
www.vault.toop.com.au
thomas.crawford@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
BROMPTON 3 Bed 2 Bath 2 Car
Contact agent
2 Bed 2 Bath 2 Car
Contact agent
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
BROMPTON 3 Bed 2 Bath 1 Car
Contact agent
3 Bed 2 Bath 2 Car
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 2 Bed 1 Bath 2 Car
Contact agent
Thomas Crawford
CROYDON
4 Bed 3 Bath 4 Car
PARK
Contact agent
0448 888 816
thomas.crawford@toop.com.au
www.vault.toop.com.au
0448 888 816
thomas.crawford@toop.com.au www.vault.toop.com.au
CROYDON PARK 3 Bed 1 Bath 1 Car
Contact agent
Thomas Crawford
CROYDON PARK 3 Bed 1 Bath 1 Car
Contact agent
Thomas Crawford
Thomas Crawford
0448 888 816
thomas.crawford@toop.com.au
Thomas Crawford
0448 888 816
thomas.crawford@toop.com.au www.vault.toop.com.au
DUDLEY PARK 3 Bed 2 Bath 2 Car
Contact agent
6 Bed 3 Bath 4 Car
www.vault.toop.com.au DUDLEY PARK
Contact agent
HENLEY BEACH 2 Bed 2 Bath 1 Car Thomas Crawford Contact agent
888 816
MAGILL 2 Bed 1 Bath 1 Car Scott Thomson Contact agent
0448
thomas.crawford@toop.com.au www.vault.toop.com.au
0414 427 427 scott.thomson@toop.com.au www.vault.toop.com.au
MILE END 3 Bed 1 Bath Thomas Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au NEW PORT 1 Bed 1 Bath 1 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
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
SEATON 3 Bed 1 Bath 3 Car Thomas Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au ST PETERS 5 Bed 3 Bath 2 Car Sally Cameron Contact agent 0412 915 108 sally.cameron@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
4 Bed 3 Bath 2 Car
TERINGIE
Contact agent
WOODVILLE GARDENS 3 Bed 2 Bath 1 Car
Contact agent