South Australia Real Estate Report May 2011

Raine & Horne South Australia CEO, Kevin Magee answers the top real estate questions every month including "HOW'S THE MARKET?" in South Australia and "WHAT DOES THAT MEAN FOR ME?" in the process identifying real estate opportunities, clarifying trends and providing property market tips for Raine & Horne members, Buyers, Sellers, Investors (Landlords) & Tenants. For ongoing & concise property updates, media scoops and tips follow Kevin on Twitter @rhSA_CEO

Please note rhSA reserves the right to remove any comment that is derogatory to other readers or adds no value to the conversation

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[rhSouthAustralia]

Hi FourAce, price changes always vary greatly from area to area, eg. During the last quarter rose in Balhannah (+60%) & Pt Noarlunga (+35%) but dropped in Pasadena (-25%) & Woodville (-28%). Its important to talk to a 'local' agent as they will know & factor in unique local factors such as current/scheduled infrastructure upgrades, a property's unique features, local buyer activity, etc. On a 'state' level I suggest median pricing will change only slightly over the next quarter, i.e. + or - 2%

[squizznut]

So I should keep saving my deposit and perhaps wait another 12 months or so and see what happens to the local market?

Cheers

[rhSouthAustralia]

@squizznut Hi Squizznut & thanks for the question. I suggest when determining whether to buy now or build a deposit for another 12 months, that the biggest consideration should be your personal circumstances & not the market conditions. Regardless of how attractive the market looks it is more important to purchase at a time when your employment/income is stable, you can build a buffer into repayments (to offset interest rises, etc) & timing is right for you and your family. I hope this helps?

[FourAceLab]

Do you think we will see a drop in prices ie median down 2.5% ?