As February begins, Adelaide’s property market continues to demonstrate resilience and stability. While other capital cities experience fluctuating clearance rates and listing volumes, Adelaide maintains a balanced environment, offering confidence to both buyers and sellers.

Adelaide vs. Australia: This Week’s Market Performance

According to CoreLogic’s latest Property Market Indicator Summary:

Auction Clearance Rates: Adelaide recorded a clearance rate of 61.7%, slightly below Sydney’s 67.5% and Melbourne’s 65.4%, yet indicative of a steady market.

Auction Activity: Adelaide saw 156 properties taken to auction this week, reflecting an increase in activity as the market gains momentum post-holiday season.

Home Values: Adelaide’s home values experienced a modest growth of 0.4% over the past month, aligning with national trends and underscoring the city’s market stability.

What This Means for Adelaide

Adelaide’s consistent performance amidst national market fluctuations highlights its unique position. Our city’s balanced supply and demand dynamics continue to foster a healthy property market, benefiting both buyers and sellers.

TOOP+TOOP’s On-the-Ground Insights

This week, TOOP+TOOP observed strong buyer engagement:

Open Inspections: Our team conducted 54 open inspections, welcoming just over 400 buyer groups. Notably, 81.5% of these attendees were already part of our TOOP+TOOP buyer database, reflecting the strength of our team’s collaboration and our extensive network of serious buyers.

Most Popular Property: Jordan Begley’s new listing at 67 Prosperity Way, Athelstone, attracted significant interest, with 40 groups attending the first open inspection.

Buyer Intent: Across the board our team is reporting a clear sense of urgency among buyers, with many eager to secure properties early in the year.

TOOP+TOOP’s Weekly Auction Highlights

This week marked the highest auction volumes in South Australia for the year, with 165 properties going under the hammer and a state clearance rate of 67%. TOOP+TOOP achieved a commendable 75% clearance rate, resulting in $9,255,600 in total sales.

Our teams standout auction sales this week included:

8 Vine Lane, Glen Osmond – Sold prior to auction by Grant Wills

7 Everett Avenue, Dulwich – Sold prior to auction by Sally Cameron.

9 Everett Avenue, Dulwich – Sold at auction by Sally Cameron

83 Castle Street, Parkside – Sold at auction by Sharee Redic

27 Ilford Street, Vale Park – Sold at auction by Sharee Redic

TOOP+TOOP’s Key Takeaway

Adelaide’s property market is off to a strong start in February, characterised by steady clearance rates, consistent home value growth, and active buyer participation. As auction volumes continue to rise, we anticipate sustained positive outcomes for our clients.

Stay tuned for next week’s update as we continue to monitor and report on Adelaide’s property market.