Latest Market Update
Market Update June Quarter 2014 Edition - Sales
The South Australian property market continues to post positive results according to the Real Estate Institute of South Australia.
Following the release of the Valuer General’s median house price data for the 2014 June quarter, REISA President, Mr Ted Piteo said that the South Australian property market had recorded a double success story.
Not only did the median house price for Adelaide show a significant increase of 3.98% from $399,100 to a record $415,000 over the 12 month comparison, it also posted a small but significant gain of 0.42% over the 2014 March quarter.
“It is really positive news for the real estate market that the median price continues its upward trend on comparisons from the same quarter last year and the immediately preceding quarter. In the 2014 March quarter it passed $410,000 for the first time ever and this quarter the median reached a new watershed of $415,000” Mr Piteo said.
In the June quarter, 4,240 house settled across the Adelaide metropolitan area, which is almost exactly the same amount as the same quarter last year. Across the entire State, sales remained at the same level as last year also.
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