The final quarter of 2019 shows a stunning return to form for South Australia with the median price again reaching a new record high and the volume of sales massively up from the previous quarter, according to REISA president Brett Roenfeldt.
Optimistic outlook for South Australian property market
The third quarter in South Australia recorded a decline in property sales, but industry body the Real Estate Institute of South Australia (REISA) is "optimistic" about the market.
Auction clearances indicate real estate market could be drifting lower
The auction clearance rate of Australia's capital cities was 74.6 per cent last week, virtually flat with the previous week's result. But Sydney and Melbourne's clearance rates are in a downward trend, says CoreLogic.
Adelaide's most affordable suburbs cluster some way north of the city, but they benefit from good hospitals and schools, and increased spending on infrastructure, says Greg Troughton, CEO of the REISA.
Looking for affordability? The median house price in beautiful regional South Australia is only $265,000
The hunt for affordable housing, pristine landscapes, and the lure of regional community, saw a 5 per cent increase in sales in regional South Australia during the March 2017 quarter.
More properties went to auction last week than in any other week of the year, but the increase in supply did nothing to dampen demand - the nation-wide clearance rate rose to 77.6 per cent.
