Thursday, July 21, 2016

What suburbs are running hot this winter?


At Toop&Toop, one of the most common questions we are asked is, "Where are the property hot spots right now?" It is a really interesting question and we are always excited 
to see what trends are unfolding. 

While some people may believe the winter market has been slow, Team Toop has experienced an extremely busy start to the winter months. Through our winter selling strategies and Toop Vault service, we have achieved some outstanding sale results across a wide range of suburbs so far. June figures from CoreLogic RP Data's Market Share Scorecard show that in our marketplace, Toop&Toop lead the way in both 'number of sales' and 'dollar value of property sold', with 18.96% and 25.87% respectively. Both results are ahead of the marketplace with the next real estate agency recording a market share of 10.42% (number 
of sales) and 10.20% (dollar value of sales). 

So, with this significant sample size of properties sold across Adelaide in June, what suburbs are we seeing leading the pack? Not surprisingly, we are witnessing stellar performances in Adelaide's eastern suburbs. Two suburbs that have particularly stood out to us so far this winter are Glen Osmond and Kensington Gardens.

Glen Osmond's median house price in June 2015 was $698,000 compared to $820,000 in June 2016 ... that's an increase of $122,000! 

Kensington Gardens also experienced a substantial increase in property value in the past 12 months recording a huge 18.99% growth. The suburb's median house price currently sits at $940,000. 

Online demand from buyers in these areas mirrors these statistics and is proving to be extremely high. According to realestate.com.au, 
properties in Glen Osmond are receiving a monthly average of 1,445 views online and properties in Kensington Gardens 1,337 views... both well exceeding the South Australian average of 549 views!

This trend is visibly flowing through to our open inspection numbers. Since the start of winter we have had strong numbers of buyer groups through our inspections in Glen Osmond and 
Kensington Gardens. We have an impressive 2,885 buyers registered with Toop Vault waiting 
to hear about properties in these areas as soon 
as they become available. 

The eastern suburbs of Adelaide has always been, and I imagine will always be, in high demand. Right now they are providing some fantastic opportunities for owners who are thinking of selling.

If you are one of the lucky few that owns a property in these amazing suburbs, it's reassuring to know that despite the cold weather, the property market is hot and there 
are some great opportunities to leverage this current buyer attraction to the area!


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