Spring property market: The Adelaide suburbs where buyers face the most competition

Eager househunters are competing with hundreds of others for one property in some Adelaide suburbs. These are the areas in highest demand.

Competition for Adelaide real estate is the fiercest in the nation, with new data revealing there are more than 100 househunters for each property on the market in an average suburb.

The latest PropTrack data shows there are typically 110 potential buyers for each house listing in an average Adelaide suburb, while there were 114 for units.

It was much higher than any other capital city – the next closest was Melbourne, with 102 potential buyers per house listing in an average suburb, and Hobart, with 72 for units.

The analysis considered a range of factors to determine potential buyers with genuine interest, including contact with an agent, email inquiries, link and social media shares, and return visits.

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At a suburb level, Mylor topped the list for Adelaide, with 374 potential buyers per house listing.

Croydon (332), Willunga South (330), Dulwich (321) and Kings Park (319) rounded out the top 5.

Meanwhile, Goodwood had the highest number of potential buyers per unit listing at 235.

It was followed by South Brighton (218), Westbourne Park (205), Edwardstown (204) and Ovingham (199).

PropTrack economist Angus Moore said suburbs with the highest number of potential buyers per listing generally had a shortage of new listings for a prolonged amount of time.

He said this meant fresh listings were often snapped up quickly then the stronger competition pushed up prices.

“There’s been such strong demand in many of these areas for years that all the available supply has been soaked up and there aren’t many homes available,” he said.

“In some cases, there’s no evidence things are improving and the few properties that do come up for sale sell quickly because there is so much competition.”

Sharyn and Jack Piromanski and are selling their Mylor home. Picture: Mark Brake.

Harcourts SA chief executive Gregg Toyama said the fierce competition for SA homes was fuelled by one main factor.

“The general consensus for SA is there certainly is a lack of listings on the market,” he said.

“There’s less stock on the market and we would have thought after 12 interest rates rises and the cost of living that there would be less buyers around.

“But they’re still there, which is holding up the prices.

“Then you look nationally, we’re still getting Sydney (and other interstate) buyers.”

Mr Toyama believed it would start to improve over the next few months though.

“My feeling is that we’ll continue with that then in spring and summer more properties will come onto the market,” he said.

Auctions across Adelaide kicked off spring strong, with househunters determined to secure property out in force despite it being opening day of the highly anticipated Royal Adelaide Show.

Ray White SA chief auctioneer John Morris said preliminary numbers showed the clearance rate and bidder registration numbers were slightly down on last week but they were still strong, and showed just how many prospective buyers were on the hunt for property.

“So far our data is saying that we have (on average) 4.4 registered bidders (per auction) but for the auctions I’ve called, I have an average of 12 registered bidders.

“The clearance rate is strong and there certainly does seem to be a spring in the step of both the buyers and the sellers in Adelaide at the moment.”

A Valley View property, at 12 Doncaster Ave, attracted a whopping 41 registered bidders and sold under the hammer for $766,000 – $141,000 above its reserve price.

Sharyn and Jack Piromanski in their outdoor alfresco area at their Mylor home they have on the market. Picture: Mark Brake.

Lead selling agent Brijesh Mishra, of Ray White Para Hills, said “a huge mix of buyers” showed interest in the three-bedroom home throughout its campaign, including downsizers, investors, builders and first-home buyers.

Sharyn and Jack Piromanski are selling their Mylor property at 15 West St through Ouwens Casserly Real Estate’s Dale Gray.

They understood why demand for homes in the suburb was so strong because they loved it just as much – they even tried to buy land in the area to build their next home but struggled to find the right one for them.

“Mylor is just serenity – you feel like you’re in the country but you’re 10 minutes from the freeway, Stirling and Hahndorf,” Ms Piromanski said.

“We’re really going to miss it.

“We were looking for land in Mylor, we were hoping to stay in the area but when property does come up, especially the land, it sells really quickly.”