Are There Still Buyers In The Adelaide Property Market?
Over the past couple months, the real estate industry has had to adapt to the new restrictions in place affecting agencies, sellers and buyers. However, these restrictions have seen an increase in innovative marketing tools that benefit the way we sell and purchase properties.
Also, the changes have seen a shift in the marketplace – but now that restrictions are lifting, are there buyers in the market?
Managing Director Lachlan Turner recently caught up with Fotobase, a leading marketing supplier for real estate agencies throughout Australia, to discuss some positive results that we have been achieving recently.
The recent Turner sale of 3/123 Stephen Terrace, Walkerville is a great example to highlight that buyers are certainly still present in the Adelaide property market. This property came to market after the restrictions were enforced, however it still received plenty of genuine enquiry and the vendor was presented with four offers within 2 weeks.
Buyers are still active in the market as people will always need to buy and sell property. Buyers also have the ability to borrow money at historically low rates – a perfect opportunity to secure a great loan and pay off debt sooner. Also, due to the decline in the share market the focus is back on property for a more stable investment. And finally, with lower stock levels, we are experiencing a competitive situation with properties attracting a good level of enquiry.
The Adelaide market is quite resilient and shown this in previous tough conditions such as during the GFC. If you are considering a sale but are unsure if now is a good time to sell, here are some good reasons to consider it.
- Buyers have access to exceptionally low rates
- Due to lower stock levels, if you do decide to sell, you can expect to achieve some reasonable enquiry
- A higher level of competition can result in multiple offers. Our past 6 sales have all had at least 3 – 6 offers on each of those properties.
If you are wanting a trusted team that will give you sound advice, with a track record of results for thousands of clients, please contact us.