Buyers go bonkers over South Australia

Buyers go bonkers over South Australia

Posted on Monday, July 08 2013 at 10:35 AM

Property buyers are flocking to South Australia, according to new research, with the state proving to be the most popular among visitors to a major real estate sales website.

Analysis of the search habits of users of has revealed the top 10 sellers’ markets across the country,
or those areas where interest in sales listings is strongest.

The results were collated by comparing the
average number of sales listings in each suburb over the three months to June
and the total clicks by users. Suburbs are then ranked by the extent to which
demand outstrips supply.

Five of the 10 most in-demand areas in the
June quarter were in South Australia, with the cosmopolitan suburb of Parkside
taking out the top spot.

Anthony Toop from ToopToop Real Estate
isn’t surprised Parkside is hot among potential buyers and believes the state’s
property market more broadly is in the midst of a recovery.

“South Australians are traditionally
conservative when it comes to purchasing property,” Toop says. “We’re currently
seeing the flow-on effect of thorough market research and it’s translating into
increased buyer activity.”

The data puts the leafy Victorian suburb of
Surrey Hills in second spot, followed by Walkerville, Norwood, Aldgate and
Kensington in SA, rounding out the top five.

“The South Australian suburbs listed in the
top 10 are historically popular, cosmopolitan suburbs,” Toop explains. “They
offer properties that cater to a wide buyer market and amenities like restaurants
and schools within walking distance. There have been some exceptional
properties sold in these suburbs in the past (few) months.”

Other entries in the top 10 included
Fitzroy North and Wantirna in Victoria, as well as Oyster Bay and Bondi in New
South Wales.

While it’s a traditionally quiet time of
the year for property, experts say historically low interest rates and renewed
consumer confidence means most markets are bucking that trend.

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