Buyers set to spring into action

Homehunters searching in Adelaide’s south have enjoyed the biggest increase in choice in the past six months.

Even with the slower month for new listings hitting the market, there are signs that choice for buyers searching in Adelaide is starting to improve.

Spring got off to a slower start than is typical this year across Adelaide’s property market. New listings on realestate.com.au were down 10.7 per cent in September compared to August.

Listings usually pick up in September as we come out of the quieter winter period and towards the typically busiest time of year for Adelaide’s property market in mid-to-late spring.

This year’s extra public holiday for the national day of mourning is part of why this season got off to a slower start, with some vendors likely opting to delay their campaigns to avoid what was, for those who could get the extra day of leave, a four-day weekend.

All parts of Adelaide saw that slower start to spring.

Adelaide’s west was a bit busier than other areas, with new listings down just 1.7 per cent, but even so that is slower than we’d normally see to kick off spring.

PropTrack economist Angus Moore.

The good news for buyers is that, even with the slower month for new listings hitting the market, there are signs that choice for buyers searching in Adelaide is starting to improve after competitive conditions for much of the past two and a half years.

The total number of properties listed for sale in Adelaide has picked up slightly over recent months, which is a change from the past couple of years.

Even so, the total number of properties listed for sale is down more than a third compared to pre-pandemic.

Buyers searching in Adelaide’s south have enjoyed the biggest increase in choice in the past six months, with the number of properties listed up 7.6 per cent.

With options increasing, less competitive conditions than those we saw during the pandemic, and less urgency, this spring looks set to be better for buyers than the past couple of years.