Thursday, April 13, 2017

The hunt is on for Adelaide’s million-dollar lifestyle!

We are experiencing a strong start to the year 
for luxury homes in Adelaide's real estate market. Homes in sought after suburbs across our city remain tight, and as a result when they are launched to the market they are being snapped up quickly, with many being sold discreetly off market! Our median house price 
is strengthening, which indicates significant growth in our top end property market, that is driven purely by demand outweighing supply.

According to RP Data, it's specifically Adelaide's eastern suburbs that have proven to be the most exclusive areas to live after recording some of the top prices on SA's property market in 2016. College Park topped the list with a median sale price of $1.864 million. Unley Park came in second, at $1.602 million, and then Rose Park recording a median sales price of $1.325 million. Other popular areas included Leabrook, 
St Peters, Toorak Gardens and Malvern. 

Adelaide's eastern suburbs are some of the most tightly held in the nation and with the increasing demand from buyers to get into these luxury areas, we are seeing our property prices for lifestyle homes continue to rise. While demand for these homes is occurring right across Australia, our Adelaide property market has been recently highlighted in the media nationally for our consistent growth and value for money in the top end market. As a result of this, we are starting to experience an increase in enquiry from Eastern State buyers in Melbourne and Sydney who are looking to relocate or purchase an investment property here in Adelaide. 

For these Eastern State buyers, it's the lifestyle that our South Australian properties can offer that is truly unmatchable. For people living in the Eastern States, purchasing a home only minutes from the CBD on thousands of square meters of land or a property with acreage that is only a 25-minute drive to the CBD including 'peak hour' all for under $10 million is simply unheard of!

Adelaide's current top residential property sale sits at $7 million in the prestigious suburb of Gilberton. This property is situated under four kilometres from the heart of the city on over 4,000 square meters of land. When you compare a magnificent residence like this with what you could purchase for the same amount in the Eastern States, you quickly begin to see why our luxury market is capturing the nation's attention. For example, if you were to purchase a property of similar calibre in Melbourne you would be looking at a price of $12 million or more, and in Sydney, you would need to be spending in excess of $20 million!

Team Toop has some incredible luxury homes 
on the market and in our ToopVault, that are 
positioned throughout some of Adelaide's finest suburbs such as Walkerville, Malvern and Toorak Gardens. In March alone, we had 870 buyer groups visit our million-dollar plus homes. This long weekend we have 32 homes available for inspection over $1 million dollars and 4,357 buyers registered, interested and receiving 
alerts in this specific bracket of the market.

There's no doubt luxury homes in Adelaide are in demand and with so many buyers in the market, the million dollar hunt will be on this Easter long weekend. From all of us at Team Toop we hope you have a very Happy Easter! 


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