Thursday, November 10, 2016

Adelaide is hot property! 26% of Toop&Toop properties sell before they’re even public!

There is no doubt that the residential property market is still strong across Australia. Market conditions for buyers right now are excellent, with the latest statistics from CoreLogic RP Data stating that 70% of Australians think now is a good time to be buying a dwelling. With this incredible buyer demand, the limitation this spring is actually coming from the national shortage of properties to be able to provide these buyers with.

The media hype and general buzz around our Adelaide property market is hard to ignore. Investors from Melbourne and Sydney are looking to our city, local investors and developers are well and truly back in the market and people who already own property are using their current equity to upsize. These are just some of the factors leading to an increase in competition and making it harder for the first home buyers.

In the months of September and October, 26% of our Toop&Toop sales were properties that sold in our ToopVault. These properties were not seen by the public, snapped up by our Vault members who were tired of missing out. These buyers put their best offers forward to secure homes before they become 'public knowledge'. 

There is no doubt that this is a great market 
to buy in, but what about those wanting to sell? 
In the past week, we have found many clients and potential sellers at our open inspections are asking us if it's too late to do something before Christmas.

The great news is - for those wanting or needing to sell - now is the perfect time! There are still three weeks left before Christmas to put your property on the market and six more selling weeks of the year.

So how long will the buyer demand last? It's always hard to judge. We are starting to hear some stories surface around uncertainty in the New Year. The CoreLogic-TEG Rewards housing market sentiment survey, published last week, mentions that 67% of respondents thought the Australian housing market was vulnerable to a significant correction in dwelling values. Consumer sentiment is a big influencer in the residential real estate industry, so these factors could have the potential to impact the property market in the New Year.

One thing is for sure... you can never predict the future. Right now the property market is in full swing, there is a strong demand for property, we are achieving some exceptional sale results including suburb record prices, and finance conditions for buyers are the best we have seen. The momentum in the market is here right now and if you want to sell in 2016, it's certainly not too late.

Give our team a call today and we can put 
the backing of Toop&Toop behind you to 
take advantage of this market and help you achieve a premium price for your property before Christmas!


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