While Adelaide’s real estate agents are counting down the days until the property market takes a short break over the Christmas period, sellers on our regional coastline are gearing up for what is their busiest selling period.
The coastal market has been performing strongly all year – a wave it has ridden (pun not intended) since interest in the region exploded thanks to a certain pandemic.
You know the one …
Ouwens Casserly Real Estate’s Kathleen Fry, pictured right, says she was preparing for a bumper summer selling period and says while it might not be the feeding frenzy it was several years ago, the market is still performing well.
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“It’s very strong still, but it’s price sensitive,” she says. “We don’t have as many turning up at opens as we used to – we used to get 50 to 100 people coming to opens whereas now it’s more like 10 groups – but they’re strong buyers and not time wasters. I have about 20 per cent of my buyers coming from interstate. In the last month I’ve had buyers from Victoria and New South Wales, so I’m still getting a lot of inquiry.
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Kathleen Fry of Ouwens Casserly Real Estate. Supplied
“We’re expecting it to be a very strong 2025, especially if rates drop.”
Ms Fry says there is more stock on the market than this time last year, and that prices are holding strong, but sellers have to be realistic with their pricing. She’s noticed some other fairly significant changes too.
“A lot of the waterfront properties are now being handed down to children and they’re not coming onto the market,” she says. “There are also more ‘subject to sale’ transactions, so we are still getting some cash contracts and some subject to finance sales which we didn’t have through Covid.
The Fleurieu Peninsula’s property market is about to fire up in a big way. Pic: Supplied.
“Every year we’re always the busiest summer market in the state – we have the influx of interstate and Adelaide buyers who come here on holidays and while they’re here a lot of them end up buying holiday homes.”
Harris Real Estate – South Coast’s Mark Forde, pictured left, says redevelopment and land releases for new houses was reactivating the area and attracting a younger demographic to the region. But price was crucial.
Mark Forde of Harris Real Estate. Supplied.
“Anything under $1m is going very quickly as the demand is very strong for it,” he says.
“Prices are holding – days on market for some of the more expensive homes is a bit longer, but the astute buyer who has been looking and knows the value of good property are still buying them. If you’re shooting for the stars and you’re not happy that 60 per cent growth over the past four years is enough and you want more then you might have to wait a bit longer, but those who are realistic and fair and reasonable are getting good outcomes.”
Mr Forde says he is gearing up for a very busy Christmas period.
The Fleurieu Peninsula’s property market is set to boom as holiday makers fall in love with the area and buy up. Pic: Supplied.
“Whereas a lot of markets go to sleep, we really fire up, so we have a lot of new releases coming onto the market on the 18th, 19th and 20th so it’s there for the Christmas period,” he says. “We’ll do some smaller, private viewings before Christmas and then it will be full on with opens that first weekend in January.”
