Ring Partners

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 middle of the Glenelg Jetty to the GPO.
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
Bellevue Heights
Blackwood
Coromandel Valley
Craigburn Farm
Eden Hills
Glenalta and
Hawthorndene.

The median price for the above 8 suburbs for the years 2006 to now are as follows.

House sales.
Year Volume of sales Median price Land area House equivalent area
2006 531 $350,000 1048sqm 160sqm
2007 600 $384,500 1066 161
2008 494 $415,500 1100 165
2009 539 $433,000 1057 165
2010 512 $450,000 1091 160
2011 453 to 31/12/11 $450,000 1113 167
*Please not the median price for the 12 months of 2011 has not dropped as many think.

From 1/1/2006 to 31/12/2010 (5 years), a rise of $100,000 & an Average of 518 sales. (Source RP Data)

Contrary to popular belief, house prices are not coming down in this area.
Some print media reports are not reflecting the true picture in Adelaide let alone the Blackwood District.
Suburb sale samples are more often than not too small and are not credible.
It is not feasible for example, for a suburb to rise 20% and a neighbouring suburb to fall 20%. A larger and wider sample is the only credible form to consider.
The above is an accurate précis of House Sales in this area.
Volumes have been well down. When market places hold back, those volumes become pent-up demand. When they release, market buoyancy puts an upward pressure on prices.

This is a responsible report from RING PARTNERS – in your best interest.
For an informed update call us anytime on 8370 3211.