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Adelaide sees fall in residential stock listings

14 Jan 14

Adelaide has followed the national trend by experiencing a decline in stock levels last month, the latest data from SQM Research shows.

The group found listings fell 8.5 per cent on a national basis compared to the previous month - in Adelaide, this figure stood at 9.3 per cent.

However, compared to December 2012, the South Australian capital witnessed a decline of 8.5 per cent.

Managing director of SQM Research Louis Christopher explained how these declines are not out of place at this time of year, especially given that the sector shuts down during December and much of January.

The expert continued: "Overall, I see no evidence of any slowdown in the market itself with these numbers.

"And indeed our asking prices index recorded some very strong increases right throughout December. We are confident of a very strong market opening later this month."

SQM Research has also released other figures that may be interesting to anyone pursuing a real estate career or offering advice to those thinking of buying in the city.

Sales price data for Adelaide City shows over the past three years, property prices have declined by almost a quarter (22.6 per cent), making the region an increasingly affordable choice.

Unit costs have also declined during the same period, falling 12.3 per cent over the past three years and 6.9 per cent during the last 12 months alone.

Other parts of the capital have experienced slightly different fortunes. In the week ending January 12, Northern Adelaide saw its house prices increase 1.1 per cent compared to the same period of 2012.

Eastern Adelaide's property market has seen some ups and downs over recent years - unit prices have dropped 0.5 per cent on a 12-month basis, but have risen 0.1 per cent over the past three years.

 

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