June quarter figures show ‘all is well’ in SA housing market


The Real Estate Institute of South Australia has welcomed the Valuer-General’s median home worth knowledge for the 2019 June quarter, with Vice President Robin Turner saying it exhibits that confidence had “returned to each distributors and consumers”.

New knowledge displaying a rise in the variety of home gross sales throughout metropolitan Adelaide and South Australia displays the state’s enchantment to buyers and residential consumers alike, the Real Estate Institute of South Australia says.

The Valuer-General’s home worth knowledge for the June quarter signifies there was a quarterly improve of virtually 10 per cent in the variety of gross sales throughout metropolitan Adelaide, and about six per cent throughout South Australia.

There has additionally been a capital features progress of two.38 per cent by the previous yr in metropolitan Adelaide.

The state’s median home worth has maintained it is record-breaking place from the final quarter, stabilising at $438,000.

REISA Vice President Robin Turner mentioned the figures confirmed there was nice confidence in South Australia’s housing market, including the state authorities ought to collaborate with REISA on points throughout the sector going ahead.

“The newest figures show important progress in median worth over the past 12 months and a considerable improve in the variety of gross sales over the past quarter,” he mentioned.

“With that in thoughts, we additionally iterate the necessity for the State Government to have interaction REISA in the problems of stamp responsibility and land tax.

“These taxes impede actual property buying and funding they usually should be addressed so that every one South Australians could be assisted in collaborating in property possession.”

According to the home worth knowledge, a complete of 4,006 homes have been settled throughout the Adelaide metropolitan space in the course of the June quarter.

The suburbs which have seen the biggest progress over a 12 month interval have been Unley, Rosewater and Torrensville, whereas there have been additionally will increase in Brighton, Stonyfell and Aldgate.

Top-selling suburbs in phrases of recorded gross sales over the June quarter have been the perennial Number 1 Morphett Vale, Aldinga Beach and Ingle Farm.

The unit and condo market skilled a lower in the median worth in comparison with the earlier quarter and the identical quarter final yr, with the variety of gross sales additionally down for a similar durations.

Mr Turner mentioned the variety of residences nearing completion, specific in Adelaide, meant REISA “expects these figures to alter”.

Source: Your Investment Property thirteenth August 2019 https://www.therealestateconversation.com.au/information/2019/08/13/june-quarter-figures-show-all-well-sa-housing-market-says-reisa/1565658282


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