5 January 2024
Adelaide market update with Bronte Manuel As the traditional spring selling season draws to a close, Adelaide property continues to demonstrate a robust blend of growth and resilience. This dynamic is reflected in our recent results at TOOP+TOOP, as well as in the broader market trends specific to Adelaide and its comparison with other Australian cities. Adelaide’s property market showed continued strength last month, with dwelling values rising by 1.2 per cent according to the latest data from property market analyst CoreLogic. This increase contributes to a broader pattern of growth, including a 3.9 per cent rise over the quarter and a significant 7.6 increase over the past year. These figures are particularly striking, as they place Adelaide’s property values at a record high.
This sustained growth indicates a strong demand for property.
This sustained growth, indicative of a strong demand for property, is especially relevant for sellers in the current market. The time it takes to sell properties in Adelaide, while slightly increased, mirrors a nationwide trend. Despite this slight uptick, it’s worth noting that the selling times are still significantly lower than pre-COVID levels, indicating that the market, while experiencing some softening, remains fundamentally strong. In terms of listings, Adelaide’s market dynamics are distinct when compared to national trends. While new listings have seen a seasonal slowdown nationally, the Adelaide market has been relatively more resilient.
The flow of new listings in Adelaide has been closer to the historic five-year average than in many other Australian cities, suggesting a healthier supply in the local market. However, total listings are still below the historic five-year average, a trend consistent nationally. This suggests that while Adelaide’s market is experiencing a gradual increase in inventory, it still faces a competitive environment due to limited overall supply. This is an important factor for buyers and sellers to consider, as it influences both property availability and pricing dynamics. TOOP+TOOP’s performance last month, with 62 sales at an average price of more than $1.21 million and an average of 23 days on the market, underscores the agency’s success in navigating this competitive landscape. These results, combined with a significant social media reach of more than 400,000, highlight our ability to effectively market properties and achieve desirable outcomes for our clients. As we move out of the spring season, the Adelaide property market remains an attractive space for investors and homebuyers. The combination of sustained value growth and relatively sparse listing levels presents a nuanced yet promising market landscape. TOOP+TOOP continues to leverage these trends, utilising our deep understanding of the local market to facilitate successful transactions, ensuring our clients capitalise on the opportunities available in Adelaide’s dynamic real estate market.
Adelaide’s market still faces a competitive environment due to limited overall supply.
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GILBERTON
4 Bed 2 Bath 2 Car
43 Walkerville Terrace
Contact agent
Sally Cameron 0412 915 108 Sally.Cameron@toop.com.au www.43walkerville.toop.com.au
Open: Sat 6 January 12pm - 12:30pm
GOLDEN GROVE
26 Hallett Road Scott Thomson 0414 427 427 scott.thomson@toop.com.au www.26hallett.toop.com.au
3 Bed 2 Bath 1 Car
Contact agent Open: Sat 6 January 11am - 11:30am
HOLDEN HILL
8a McBean Avenue Scott Thomson 0414 427 427 scott.thomson@toop.com.au www.8amcbean.toop.com.au
MALVERN
167 Fisher Street Peter McMillan 0417 733 900 Glenn McMillan 0476 394 663 www.167fisher.toop.com.au
3 Bed 2 Bath 2 Car
$860,000 - $895,000 Open: Sat 6 January 12:30pm - 1pm
5 Bed 2 Bath 3 Car
$2,900,000 Open: Sat 6 January 11:30am - 12pm
NEW PORT
402 / 6-8 Wirra Drive Amelia Langhans 0422 125 242 amelia.langhans@toop.com.au www.402-6-8wirra.toop.com.au
NEW PORT
202 / 1-2 Tarni Court Amelia Langhans 0422 125 242 amelia.langhans@toop.com.au www.202-1-2tarni.toop.com.au
1 Bed 1 Bath 1 Car
$380,000 Open: Sat 6 January 10:30am - 11am
2 Bed 2 Bath 2 Car
$590,000 Open: Wed 10 January 11:30am - 12pm
NORWOOD
16 William Street Sally Cameron 0412 915 108 Sally.Cameron@toop.com.au www.16william.toop.com.au
ROSSLYN PARK
12 Gillard Drive Ryan Yuan 0422 429 939 Lalita Yuan 0433 402 255 www.12gillard.toop.com.au
4 Bed 2 Bath 2 Car
Contact agent Open: Sat 6 January 3pm - 3:30pm
6 Bed 3 Bath 2 Car
Contact agent Open: Sat 6 January 12pm - 12:30pm
ST PETERS
17 Fifth Avenue Sally Cameron 0412 915 108 Sally.Cameron@toop.com.au www.17fifth.toop.com.au
WALKERVILLE
31B Brunswick Street Sally Cameron 0412 915 108 sally.cameron@toop.com.au www.31bbrunswick.toop.com.au
5 Bed 2 Bath 2 Car
Contact agent Open: Sat 6 January 1:30pm - 2pm
3 Bed 2 Bath 2 Car
Contact agent Open: Sat 6 January 10:30am - 11am
BROMPTON
Thomas Crawford
3 Bed 2 Bath 1 Car
Contact agent
0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
COLONEL LIGHT GARDENS
Jordan Begley 0410 289 240 jordan.begley@toop.com.au www.vault.toop.com.au
4 Bed 2 Bath 3 Car
Contact agent
CROYDON
Thomas Crawford
5 Bed 2 Bath 4 Car
Contact agent
0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
CUMBERLAND PARK
Gena Nash 0408 828 415 gena.nash@toop.com.au www.vault.toop.com.au
2 Bed 1 Bath 2 Car
Contact agent
DEVON PARK
Thomas Crawford
3 Bed 2 Bath 2 Car
Contact agent
0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
DEVON PARK
Thomas Crawford 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
3 Bed 2 Bath 2 Car
Contact agent
FINDON
Thomas Crawford
3 Bed 1 Bath 1 Car
Contact agent
0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
FLINDERS PARK
Bronte Manuel 0439 828 882 bronte.manuel@toop.com.au www.vault.toop.com.au
4 Bed 2 Bath 2 Car
Contact agent
GILBERTON
Sally Cameron
5 Bed 3 Bath 2 Car
Contact agent
0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
GLANVILLE
Thomas Crawford 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
3 Bed 2 Bath 1 Car
Contact agent
LEABROOK
Sharee Redic
4 Bed 3 Bath 2 Car
Contact agent
0407 722 660 sharee.redic@toop.com.au www.vault.toop.com.au
LONGWOOD
James Lindsay 0434 182 351 james.lindsay@toop.com.au www.vault.toop.com.au
1 Bed 1 Bath 1 Car
Contact agent
MAGILL
Grant Wills
4 Bed 2 Bath 2 Car
Contact agent
0419 865 829 grant.wills@toop.com.au www.vault.toop.com.au
MILLSWOOD
Sally Cameron 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
4 Bed 2 Bath 2 Car
Contact agent
OAKLANDS PARK
Sharee Redic
3 Bed 2 Bath 2 Car
Contact agent
0407 722 660 sharee.redic@toop.com.au www.vault.toop.com.au
PARKSIDE
Sally Cameron 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
4 Bed 1 Bath 2 Car
Contact agent
PROSPECT
Jake Theo
4 Bed 2 Bath 4 Car
Contact agent
0422 959 650 jake.theo@toop.com.au www.vault.toop.com.au
RENOWN PARK
Thomas Crawford 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
3 Bed 2 Bath 2 Car
Contact agent
ROSSLYN PARK
Sally Cameron
5 Bed 3 Bath 3 Car
Contact agent
0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
ST PETERS
Sally Cameron 0412 915 108 sally.cameron@toop.com.au www.vault.toop.com.au
4 Bed 1 Bath 2 Car
Contact agent
TOORAK GARDENS
Sharee Redic
2 Bed 1 Bath 1 Car
Contact agent
0407 722 660 sharee.redic@toop.com.au www.vault.toop.com.au
WEST BEACH
Thomas Crawford 0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
2 Bed 2 Bath 1 Car
Contact agent
WOODVILLE NORTH
Thomas Crawford
3 Bed 1 Bath 2 Car
Contact agent
0448 888 816 thomas.crawford@toop.com.au www.vault.toop.com.au
WYNN VALE
Bronte Manuel 0439 828 882 bronte.manuel@toop.com.au www.vault.toop.com.au
5 Bed 2 Bath 2 Car
Contact agent