Those looking to buy property in Adelaide have plenty to choose from, with an 8% increase in listings compared to this time last year.
According to CoreLogic’s Spring Sales Report, Adelaide’s stock levels are at their highest point of any November since 2013.
“We expected this selling season to become strong and the listings have bounced back now,” Real Estate Institute of SA (REISA) CEO Greg Troughton said.
“More selection and competition now means that the sellers’ market that we’ve been in for some time will become more balanced.”
CoreLogic researcher Cameron Kucher, told realestate.com.au that listing trends varied greatly across Australia, and have a fairly significant impact on property values.
“As stock increases, growth slows and as stock falls, growth has accelerated,” he said.
Although Adelaide has had a slow quarter with just a 0.1% increase in dwelling values there are reasons to be optimistic.
Dwelling values in Adelaide have increased 5% over the past 12 months, and one property analyst recently predicted that 2018 may see gains of up to 9%.