It’s more than exciting to be selling a property in the Adelaide Hills right now. It’s historic. Our region is experiencing selling conditions unlike anything we’ve seen before. According to Australian House Price Index, we’ve seen the sharpest monthly increase since August 2003, with a 2.1% jump in February.
Adelaide’s property prices saw an uptick of 0.9 per cent in the month of January 2021 alone, and in the 12 months to 31 January rose by 6.5 per cent. Eliza Owen, a spokesperson from CoreLogic, reiterates we’re seeing growth in the market – that is the strongest growth phase on record. And many articles are confirming this, dubbing Adelaide as the nation’s most consistent market.
A few reasons for buyer demand have combined to make one very lucrative seller’s market – people holding onto properties, record-low mortgage rates, and strong economic recovery.
The demand is high for homes for sale in the Adelaide Hills, but the stock is low. And this is likely to continue into 2022, until lending conditions are restrained or there’s higher levels of supply.
These predictions are supported by the big banks, with Westpac forecasting the house price to hit 10% gains this year and into 2022 – before we can expect to see rising fixed terms interest rates and possible regulatory restrictions. In other words, if you’ve ever considered putting your Adelaide Hills property on the market, now is the time to do it.
Tips for the buyer-seller in the Adelaide Hills
While the market is in your favour, if you’re putting your house for sale in the Adelaide Hills, buyers trying to secure a property are having a more difficult time. The buyer-seller specifically, who wants to sell their home and buy another, has a unique set of challenges.
Buyer-sellers are vying against a surge of cash buyers or people who have already sold their houses. In this competitive market, a ‘subject to sale’ style offer is harder to get across the line. Buyer-sellers either pay much higher price or simply miss out. Neither are ideal.
Lean on the support of your Adelaide Hills real estate agents.
If you’re a buyer-seller or are now thinking about leveraging this market (conditions we might not see again), we suggest getting your Adelaide Hills property ready for sale. So, when you find your dream home, we can launch it on the market within minutes.
To get your property prepared for sale, take these five steps:
1. Engage our team of real estate agents to project manage and coach you through getting your Adelaide Hills home ready.
2. Organise a pre-sale inspection to address any potential issues
3. Take care of any maintenance and decluttering projects
4. Bring us in for the styling and staging, to capture that amazing first impression
5. Complete the essential media – professional photography, a video tour, the property copywriting, and draw up plans.
Right now, real estate in the Adelaide Hills is beyond exciting. If you’ve been sitting on the fence about selling or had an appraisal done over six months ago, we’d love to connect and chat about your future goals. This is a fast-moving market and one thing’s for certain – it won’t last.
Together, let’s make your next move in a strong Adelaide Hills property market.