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Stock Levels Fall in Adelaide

By Brett Pilgrim

The amount of available property in Adelaide declined last month – a picture that was mirrored across the rest of the country.

SQM Research figures show 16,122 properties were on the market in December 2013, representing a decline of 9.3 per cent compared to the previous month. On a yearly basis, this marks a fall of 8.5 per cent.

The majority of the nation’s capitals recorded decreases in stock levels, with the only exception being Darwin where a considerable increase of 19.8 per cent was logged.

Sydney, on the other hand, led the way in terms of declining stock.

Data was also released on asking prices for houses and units across the country. In the weekend ending January 7 2014, there was a 2.8 per cent rise in asking prices for all houses compared to the same period of last year.

Three-bedroom houses in the city witnessed a 2.5 per cent price rise during this timeframe.

As for units, asking prices have increased 1.4 per cent over the same period, while two-bedroom properties saw a 0.3 per cent rise.

Property in Adelaide therefore continues to offer opportunities for investors and homeowners alike, even if there are fewer homes on the market.

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