Setting new sales records!

July 2023 Property Update

July 15, 2023

Kite Property continues to set sales records!

We witnessed strong buyer demand across all our markets this month. This is a clear sign that Adelaide’s real estate market is flourishing. According to the latest data from CoreLogic, the median house price in Adelaide has surged to $655,000 in July, representing a further 1.1% increase from the previous month.

We’re particularly excited about the recent abolishment of Stamp Duty for eligible first-home buyers purchasing a new home up to $650,000. Kite believes this is going to create a “trickle-up effect” in the market, which means properties valued between $650,000 to $1M are likely to benefit tremendously.

We expect the market to be tight for July and August due to holidays being high on the agenda, however, if you are considering a move, it may be worthwhile bringing your timeline forward to take advantage of the lower competition levels, putting yourself in a stronger buyer position come Spring when it is anticipated that stock levels will peak again.

So, whether you’re looking to invest, upgrade, or find your first home, our team at Kite Property is here to help you make the most of this thriving real estate market. If you have a home to sell call Kite today!

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