Ring Partners

From the desk of RING PARTNERS.

The median price in the great metropolitan Adelaide, that is from Gawler to Willunga, has risen every year for more than 3 DECADES….
(except the 2 years of 1995/1996 with the demise of the State Bank, when it only dropped 1.7% and 1.3% in the market place much worse than now).

The last 3 years has seen a collective drop of 23% in the volume of sales.
THAT 23% becomes pent-up demand and when that 23% decide to buy with all the normal influx of buyers – we will experience strong demand in very buoyant conditions putting strong upward pressure on prices. These pressures are real…..

The median price in
1985 was $ 72,200 and in
1995 it was $111,500 and in
2005 it was $276,000 and as at 31/12/2010 it was $405,000 and in
2015 ……….. WHAT WILL IT BE?
ADELAIDE IS THE LOWEST MAINLAND CITY BY A BIG MARGIN.

BUYING AN ESTABLISHED OR NEW HOME?
The Federal Government Grant.
The $7,000 First Home Owner Grant at the moment
remains available to all first home buyers.

BUYING A NEW HOME OR BUILDING A NEW HOME?
The State Government First Home Bonus Grant.
The $8,000 grant has one year to run then it will be reduced
To $4,000 July 1, 2012 and abolished July 1, 2013.

These grants are available to eligible buyers only.
For more information – wwwrevenue.sa.gov.au

It is our considered opinion that Adelaide house prices, subject to seasonal fluctuations, will continue to rise in the foreseeable future.
We expect vacant land prices to continue to rise and the cost of building a new home to continue to rise. These rises will be reflected in the market worth of established homes putting real upward pressure on prices.
It is prudent to take advantage of these grants and plan to buy or build as soon as practicable. See other reports to support a positive outlook for SA herein.