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Slight fall in Adelaide stock listings

By Brett Pilgrim

Stock levels are an important indicator of the strength of any property market. A lack of available real estate suggests that the area is popular, with people choosing to remain where they are rather than go in search of alternative accommodation.

On the other hand, a market with large quantities of properties for sale may point to quite a different picture. It could suggest that people are keen to move – and this might be for any number of reasons.

The good news if you're looking to buy property in Norwood is that listings have been on a pretty even keel over recent months, which is a sign of a level market. SQM Research reveals that between March and April this year, the number of properties available for sale declined 0.7 per cent.

This compares to a yearly increase of 2.3 per cent, making Adelaide one of the most stable capitals in the entire country. Darwin, for example, has seen its listings increase 42.7 per cent over the past year, while Perth's are up 18.9 per cent.

SQM Research also offered an insight into property prices, which could prove interesting reading if you're hoping to relocate to Adelaide. Over the 12 months to 5 May, the price of houses has increased 1.4 per cent. Compared to a month earlier, prices were up 0.8 per cent.

If, like many people. you're realising that now is a good time to buy, you'll be glad to hear that lending rates have fallen as a result of the Reserve Bank of Australia's latest cash rate decision. The board decided to lower interest rates by 25 basis points to an all-time low of 2 per cent.

Adelaide's market continues to prove itself time and time again, so why not take the plunge and buy your first property? Speak to our team of experts for help choosing your home.

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