‘Significant upswing’ seen in SA

‘Significant upswing’ seen in SA

by 0 comments

After traditionally flat results, the last quarter of 2014 saw an increase in sales, vendor and purchaser confidence, says the Real Estate Institute of South Australia.

REISA president Greg Moulton said recent data showed a five per cent increase in volume of sales over the last quarter, which was a 3.16 per cent increase in median price over the last quarter.

“The median house price in Adelaide is now at $425, 000, which is the highest recorded median on record,” Mr Moulton said.

“The change in median price over the last few quarters is fantastic and shows quite clearly the underlying strength of the property market.

“The other great figures are that the volume of sales increased for both South Australia and metropolitan Adelaide in 2014 compared to 2013.

“There was an increase of 2.63 per cent in volume of sales across South Australia and 2.40 per cent across metropolitan Adelaide,” he added.

Mr Moulton said consumer confidence will continue to increase as vendors price more realistically and agents are well versed in new sales laws that commenced last year.

“As all parties in the real estate transaction move towards a transparent and equitable outcome, the overall news for the real estate industry can be nothing but positive,” Mr Moulton said.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent grew his database by 50% in five years

In this episode of Secrets of the Top 100 Agents, Robert Pignataro joins host Tim Neary to explain how he increased his personal database by...

View all podcasts

Does the benefit of being part of a branded group outweigh the cost?

Depends on the group
Do you have an industry update?