Earlier this year we predicted a cooling in the housing market. Well it seems that it has arrived in Adelaide and its happening now. We have now entered a transitioning market.
What are the signs;
- September quarter figures show a drop of 0.3% in SA property prices. Might not seem like much but it’s the first drop since December 2015.
- October figures remained stagnant with zero growth
- Stock levels are up 8% from this time the previous year. Meaning that supply is up and demand is declining.
Brisbane and Adelaide home values did not move in the week to November 5 and have only risen 0.1 per cent over the past month, according to preliminary figures released by property data group Core Logic on Monday
The slowdown is definitely on.