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SA benefits from balanced market

8 Apr 14

It's no secret that the Australian property market has experienced some ups and downs over recent months, but those undergoing real estate training in South Australia may be starting to see some stability.

The latest Commonwealth Bank/RP Data Home Buyers Index (HBI) found that the national property market is working in the favour of purchasers, but this is not necessarily the case in SA.

Analysis shows that the state is currently experiencing balanced activity as the number of properties for sale is on par with buyer demand.

This marks a stark contrast from October 2013 when the HBI deemed SA's property market to be largely dominated by buyers.

Clive van Horen, general manager of home loans at Commonwealth Bank, explained how anyone hoping to secure real estate in any part of the country should look outside capital cities for the best buys.

"With mixed market conditions across the country, buyers should undertake comprehensive research before entering negotiations, including looking at comparative property valuations and real market value data, as well as getting tailored advice from lending specialists," he commented.

This follows the release of the March RP Data - Rismark Home Value Index, which showed rising dwelling values across the majority of the nation's capitals.

Capital city dwelling values increased 2.3 per cent throughout March and are 3.5 per cent higher at the end of the first quarter of the year than they were at the start.

However, Rismark's Managing Director Ben Skilbeck said it could be seasonality having an impact on the findings, as March is typically a strong selling month.

"As such, there should be little surprise that, in the presence of high auction clearance rates and in the absence of any major economic changes, the March month delivered materially stronger performance than the flat February result," he commented.