South Australian suburbs have emerged as the nation’s top sellers’ markets, according to recent data released by realestate.com.au.
The quarterly data in the three months to February shows that the Adelaide suburb of have taken out the top position yet again, with five other South Australian suburbs also making an appearance in the country’s top ten sellers’ suburbs.
After previously falling off the list in December, the South Australian suburbs of Parkside and Unley have again risen to popularity along with six newcomers in the national top ten list, including Freshwater and Kirrawee in NSW, Surrey Hills in VIC and Newmarket in QLD.
According to realestate.com.au’s general manager of sales and operations, Arthur Charlaftis, the sellers’ suburbs are measured by the number of people looking per listing in an area from the 18.5 million visits to the website every month.
“A high level of competition indicates an increase in market participation a few months down the track,” Mr Charlaftis explained.
Toop&Toop Real Estate’s Anthony Toop in South Australia attributed the state's success to an increase in market confidence and the belief that market has bottomed out.
“Demand for property in South Australia has been on the rise since the last quarter of 2012. Low interest rates have seen a lift in buyer confidence, and people are realising that the South Australian property market is one of the most affordable on the mainland,” Mr Toop said.
“The general consensus is that the market has bottomed and now is a good time to snap up an affordable property.”
Top sellers’ markets