House Prices

[Les&Babs]

Hi all

Can anyone let me know if house prices are still rising or have they fallen recently.

 

Regards

Les

[Andrew from Vista Financial]

Still pretty stagnant really.

 

Generally you can negotiate a good deal on property over $500k as that market is not really moving.

 

You have to be quick on property under $400k as first home owners are snapping them up due to the grants on offer.

 

 

Andy

[Anne B]

I've been monitoring the prices of a selection of houses (most over $500K and not necessarily ones I would want or could afford to buy) in the Grange/Henley Beach area for the past 3 months. Out of 23 properties, 9 have definitely sold, 2 have gone for rent and 11 have dropped their prices. For example:

 

Was $695k, then $680k now up for rent

Was auction, then $895k-$970k now $860k-$890k and still for sale

Was auction, then $775k, then $749k then sold

Was $660k-$695k, then $650k-$675k, now $600k-$635k and still for sale

Was $550k-$570k, then $530k and still for sale

Was $630k-$685k, then $580k-$630k and still for sale

Was $595k-$655k, then $590k-$640k, then $590k-$625k, then $570k-$590k and still for sale

Was $579k, then $565k and still for sale

Was $650k-$700k, then $650k-$680k then sold

 

Some properties seem way over-priced and the prices haven't been dropped and they are not selling, for example

Was auction, then $975k-$1020k then still for sale over 3 months later

 

So some prices are definitely dropping !!! Maybe just that they were way over-priced in the first place. There are so many sub-divides and new builds in that area (by greedy developers!) and a lot of these don't seem to be selling.

 

I've noticed that they don't often say 'new price' like they do in the UK.

[Anne B]

Just spotted this article on Adelaide Now, which basically says that prices in the last 6 months of 2008 have dropped in Adelaide by 1.37%, with the more expensive suburbs (including Henley Beach which is in my survey) taking more of a hit. Read the article here:

 

http://www.news.com.au/adelaidenow/story/0,22606,25024296-2682,00.html

[Guest panther]

Hi all

Can anyone let me know if house prices are still rising or have they fallen recently.

 

Regards

Les

 

Average house prices are taking longer to sell, higher priced properties above $600,000 are slowing down and dropping very slowly.

A lot depends where the properties are closer to the CBD and around the coastal fringes have not dropped that much.

Dont take too much notice of the last Advertiser article as the prices were based in some instances on the high end not selling.

 

Panther

Short Term Accomodation in Marino:cute: