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Adelaide Property Owners Should Take Note of Rises in Lending, Prices

By Brett Pilgrim

Owners of real estate in Adelaide looking to sell might want to consider entering the market sooner rather than later.

According to the latest data from the Australian Bureau of Statistics (ABS), the total value of dwelling commitments in trend terms increased 1.8 per cent on a monthly basis during December 2013.

Meanwhile, the total value of owner occupied housing commitments also rose in trend terms, up $163 million from November. Increases were recorded in commitments for the purchase of established dwellings and the construction of new dwellings.

“Today’s data cap off a strong year for new home lending and signal that activity on the ground will be strong during the early months of 2014,” said Housing Industry Association (HIA) Senior Economist Shane Garrett in a February 11 media release.

“During December, the share of the owner occupier market accounted for by First Home Buyers reached its highest in four months and this is something to be welcomed.”

Mr Garrett also pointed out that the data showed a rise of 3.4 per cent in capital city dwelling prices during the final quarter of 2013. This marks a rise of 9.3 per cent when compared to the previous year.

Between rising prices and an increase in home lending, now just might be the perfect time for owners of property in Adelaide to put their homes up for sale.

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