South Australia has once again dominated realestate.com.au’s national list of top 10 sellers’ suburbs.
The property site’s quarterly data revealed the state had made up six of the 10 listed suburbs, with the Adelaide suburb of Parkside taking out the top spot.
Brock Harcourts CEO and Real Estate Institute of South Australia (REISA) president Greg Moulton told Real Estate Business he was not surprised by the results.
“South Australian real estate in the top end has been quite competitive for some time,” he said. “With more buyers than sellers, it’s meant that obviously those prices have held up really well.”
Managing director of Toop&Toop Real Estate, Anthony Toop, said Parkside’s popularity was due to its broad appeal and wide range of properties.
“The area offers a blend of beautiful Victorian architecture and super-modern properties, as well as large residential homes and cottages," he said.
“The suburb is literally within walking distance to two of Adelaide’s most iconic shopping strips and to the city, with parklands in between. In terms of location, it just doesn’t get better. The area is cosmopolitan but safe and attractive enough for families. It captures a broader range of the market than other suburbs.”
Increased market confidence was the reason for South Australia’s continued top position, Mr Toop added.
“Demand for property in South Australia has been on the rise since the last quarter of 2012," he said. "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.
“The general consensus is that the market has bottomed and now is a good time to snap up an affordable property. The demand has continued since September, and the Christmas and New Year periods were as busy as ever.”
Realestate.com.au’s top ten sellers’ suburbs are:
- Parkside (SA)
- Unley (SA)
- Crafers (SA)
- Kensington Gardens (SA)
- Norwood (SA)
- Kirrawee (NSW)
- Surrey Hills (VIC)
- Freshwater (NSW)
- Fullarton (SA)
- Newmarket (QLD)