28 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 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 30 March 10am - 10:30am 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 30 March 1:30pm - 2pm Open:
BLANCHETOWN 4 Bed 1 Bath 2 Car 70 Page Drive $490,000 - $530,000 Scott Thomson 0414 427 427 scott.thomson@toop.com.au www.70page.toop.com.au Mon 1 April 11am - 11:45am Open: ENCOUNTER BAY 5 Bed 2 Bath 2 Car 29 Bartel Boulevard $900,000 Peter McMillan 0417 733 900 Glenn McMillan 0476 394 663 www.29bartel.toop.com.au Sat 13 April 4pm on site Auction: Sat 30 March 4pm - 4:45pm 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 Mon 1 April 4:30pm - 5pm Open: 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 30 March 12:30pm - 1pm Open:
HAWTHORN 4 Bed 2 Bath 3 Car 121 Cross Road Contact agent Peter McMillan 0417 733 900 Glenn McMillan 0476 394 663 www.121cross.toop.com.au Sat 6 April 1:30pm on site Auction: Sat 30 March 12pm - 12:30pm Open: KINGS PARK 3 Bed 2 Bath 2 Car 13 Stanley Street $1,200,000 - $1,300,000 Jordan Begley 0410 289 240 jordan.begley@toop.com.au www.13stanley.toop.com.au Sat 30 March 10:30am - 11:15am 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 30 March 11am - 11:30am 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 30 March 11am - 11:30am Open:
38
NORTHFIELD 3 Bed 1 Bath 2 Car
Bond Street Contact agent Jake Theo 0422 959 650 Thomas Crawford 0448 888 816 www.5bond.toop.com.au Thu 28 March 5:30pm - 6pm Open: NORWOOD 2 Bed 1 Bath 1 Car
5
William Street Contact agent
Wills 0419 865 829 grant.wills@toop.com.au www.38william.toop.com.au Sat 6 April 10am on site Auction: Sat 30 March 11:30am - 12pm Open:
Grant
PARADISE 4 Bed 3 Bath 2 Car 14A Parkwood Avenue Contact agent Alexander Parzis 0410 588 633 Hayley Parzis 0411 318 382 www.14aparkwood.toop.com.au Sat 30 March 12:30pm - 1pm Open: ROSTREVOR 3 Bed 2 Bath 2 Car 14 Chapel Way $790,000 - $820,000 Sally Cameron 0412 915 108 sally.cameron@toop.com.au www.14chapel.toop.com.au Mon 1 April 3:30pm - 4pm Open:
SKYE 4 Bed 2 Bath 2 Car 118 Coach Road Contact agent Alexander Parzis 0410 588 633 Hayley Parzis 0411 318 382 www.118coach.toop.com.au Sat 13 April 12:30pm on site Auction: Sat 30 March 11am - 11:30am Open:
BROMPTON 3 Bed 2 Bath 1 Car
Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au BURNSIDE 2 Bed 1 Bath 1 Car James Lindsay Contact agent
182 351
www.vault.toop.com.au
Thomas
0434
james.lindsay@toop.com.au
CHELTENHAM 4 Bed 2 Bath 2 Car Thomas Crawford Contact agent 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au CLARENCE PARK 2 Bed 1 Bath 2 Car Grant Wills Contact agent 0419 865 829
www.vault.toop.com.au
grant.wills@toop.com.au
CUTTLEFISH BAY 4 Bed 2 Bath 4 Car
Hayes Contact agent 0438 767 227 sam.hayes@toop.com.au www.vault.toop.com.au DEVON PARK 3 Bed 2 Bath 1 Car Thomas Crawford Contact agent
888 816
www.vault.toop.com.au
Sam
0448
thomas.crawford@toop.com.au
grant.wills@toop.com.au
FELIXSTOW 3 Bed 1 Bath 3 Car
Parzis Contact agent
588 633
www.vault.toop.com.au FIRLE 3 Bed 2 Bath 2 Car
Wills Contact agent
865 829
Alexander
0410
alexander.parzis@toop.com.au
Grant
0419
www.vault.toop.com.au
Ryan
0422
ryan.yuan@toop.com.au
www.vault.toop.com.au
Sally
0412 915 108
sally.cameron@toop.com.au
www.vault.toop.com.au
GLEN OSMOND 4 Bed 2 Bath 2 Car
Yuan Contact agent
429 939
KENSINGTON PARK 4 Bed 3 Bath 2 Car
Cameron Contact agent
Sharee
0407 722 660
sharee.redic@toop.com.au
www.vault.toop.com.au
Thomas
0448 888 816
thomas.crawford@toop.com.au
www.vault.toop.com.au
KILBURN 3 Bed 2 Bath 2 Car
Redic Contact agent
KILKENNY 3 Bed 2 Bath 1 Car
Crawford Contact agent
vincent.doran@toop.com.au
0410
alexander.parzis@toop.com.au
LARGS NORTH 3 Bed 1 Bath 7 Car
Doran Contact agent
229 880
Vincent
0466
MARRYATVILLE 4 Bed 3 Bath 2 Car
Parzis Contact agent
www.vault.toop.com.au
Alexander
588 633
www.vault.toop.com.au
Sally Cameron
0412 915 108
sally.cameron@toop.com.au
www.vault.toop.com.au
Amelia Langhans
0422 125 242
amelia.langhans@toop.com.au
www.vault.toop.com.au
Bed 2 Bath 2 Car
MEDINDIE 5
Contact agent
PORT
NEW
Contact agent
Sally
0412 915 108
sally.cameron@toop.com.au
www.vault.toop.com.au
Ryan
0422 429 939
ryan.yuan@toop.com.au
www.vault.toop.com.au
NORWOOD 4 Bed 2 Bath 2 Car
Cameron Contact agent
ST GEORGES 3 Bed 1 Bath 2 Car
Yuan Contact agent
Sally
Peter
0417
peter.mcmillan@toop.com.au www.vault.toop.com.au
ST PETERS 4 Bed 2 Bath 4 Car
Cameron Contact agent
915 108
0412
TOORAK GARDENS 5 Bed 2 Bath 2 Car
sally.cameron@toop.com.au www.vault.toop.com.au
McMillan Contact agent
733 900
Ryan
0422
ryan.yuan@toop.com.au
www.vault.toop.com.au
Sally
0412 915 108
sally.cameron@toop.com.au
www.vault.toop.com.au
TOORAK GARDENS 3 Bed 3 Bath 4 Car
Yuan Contact agent
429
939
WATTLE PARK 4 Bed 3 Bath 6 Car
Cameron Contact agent
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
CROYDON 3 Bed 2 Bath 2 Car
WEST
Contact agent
NORTH 3 Bed 1 Bath 4 Car
WOODVILLE
Contact agent