The Blackwood District Market PlaceThursday, May 07, 2015
The REAL FACTS about the market place we live in….known as the Blackwood District or the Mitcham Hills.
It is often thought we are too far away from everything.
It is one of Adelaide’s best kept secrets.
Consider this. The exact 10km radius from Chapman Street in the heart of Blackwood to the GPO is equidistant from the Glenelg Jetty to the GPO = 10kms. Imagine if these 8 suburbs were in Glenelg, Glenelg South, Glenelg East, Glengowrie, Somerton Park, North Brighton, Warradale, and Oaklands Park – they would all be $100-$500,000 dearer. In other words, this area is under valued by the market place. It is our considered opinion we can expect good capital appreciation into the future.
The Mitcham Hills encompass the beautiful suburbs of:
Belair Craigburn Farm
Bellevue Heights Eden Hills
Coromandel Valley Hawthorndene
The median price for the above 8 suburbs for the years 2006 to now are as follows.
Year Volume of sales Median price Land area House equivalent area
2006 531 $350,000 1048sqm 160sqm
2007 600 $384,500 1066 161
2008 493 $416,000 1100 165
2009 535 $435,000 1057 165
2010 497 $450,000 1091 160
2011 453 $450,000 1113 167
2012 370 $477,500 1060 170
2013 394 $475,000 1012 162
2014 409 $520,000 1066 175
The median house price has remained risen $16,000 to $520,000 in the twelve months to 31st December 2014 on a slightly higher turnover of 409 sales (should be more than 600). The median house price is the middle contract price, not the average price, it is a more accurate method of assessing market trends.
The above is an accurate précis of House Sales in this Blackwood District.
Volumes have been well down. When market places hold back, those volumes become pent-up demand. When they release, increased market buoyancy puts an upward pressure on prices
This is a responsible report from RING PARTNERS
For an informed update call us anytime on 83703211.