This week delivers figures very similar to the previous week’s, as an increased volume marked a slight improvement.
51 of the 82 sold for a clearance rate of 62%. As with last week, this rate is somewhat disappointing, but not cause for alarm.
Economist Shane Oliver has speculated recently on the state of Australia’s real estate market, noting decline throughout major cities.
However, he cites population growth and a lack of the high-risk loans that were instrumental to America’s market crash as staving off a similar crash in Australia, noting South Australia specifically as stable and likely to experience growth.
This week’s surge in average selling price is a promising sign, the $744,842 figure the highest average Adelaide has seen so far this year. This sizeable figure can be attributed to half a dozen properties selling for prices exceeding $1 million.
Third-highest of these is 73 Wattle Street, in Fullarton, which sold for $1,340,000. Peter and Eloise McMillan of Toop&Toop Real Estate represented this grand Tudor.
Securely protected behind modern automatic gate and fences is a majestic fusion of character features, such as timber fretwork and lead light windows, with luxurious modernities, including heated swimming pool and woodfire pizza oven.
1 King Edward Avenue, Hawthorn, has attracted the second-highest selling price of the week at $1,375,000. Andy Edwards of Klemich Real Estate represented this home, another Tudor which strives for and attains grandeur in its every feature.
Bay windows, original fireplaces and French doors leading to the grandest of its spacious rooms – the cavernous entry hall – cannot help but impress.
The home also boasts excellent location, with shopping, school and transport options in close proximity.
The highest sale of the week is that of 18 Warwick Street, in Walkerville, Richard Hayward of Klemich Real Estate securing the home’s immense $1,545,000 selling price.
Another property infused with heritage character, this home fuses its 1910s origin with more sleek modernity without ever compromising quality.
Original fireplaces, the hallmark of a renovated classic, fill the home with warmth. Miele-equipped kitchen providing convenience and an exterior alfresco entertaining area sits adjacent a refined well-maintained garden area.
These immense sales are positive outliers in an unexceptional week nonetheless buoyed by consistency. Should South Australia’s market hold true as economist Shane Oliver predicts, we will see the state’s market continue to grow even as other states falter.