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Bridgwater is Adelaide's fastest-selling suburb, according to the latest PropTrack data. Photo: realestate.com.au
As demand continues to outstrip supply, many homes in Adelaide are being booked quickly, with some selling within about three weeks after being on the market.
Bridgwater was Adelaide's fastest-selling suburb over the past year, with properties spending a median time on the market for just 18 days, according to the latest data from PropTrack.
Plimpton Park was next with 23 days, followed by Edwardstown (28.5 days), Port Noarlunga South (29.5 days) and Smithfield (30 days) rounding out the top five.
Port Noarlunga South was also one of the city's fastest-selling suburbs. Photo: realestate.com.au
Tamara Gertig, a Harris real estate agent whose median time on the market in Bridgewater is seven days, said properties in the suburbs always sold quickly.
But she said it's particularly in demand at the moment because people perceive it to offer a great lifestyle at an affordable price, and the fact that inventory is so low.
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“This is a really great family-oriented town,” Gertig said.
“When I got home, there was a koala in my front garden and a kangaroo crossing the road.
“You don't have to split the big block into three smaller blocks. You get a big open space.”
She said many of the lots were large but still manageable, and some homes were offered for less than $1 million.
“I live in this area. I love it. I wouldn't want to live anywhere else,” Gertig said.
Tamara Gertig of Harris Real Estate Agent. Photo: Harris Real Estate.
Matt Lindblom, CEO of Ray White SA, said properties in areas like Bridgwater sold quickly because they were the best option next to the surrounding upmarket suburbs.
“Things like Port Noarlunga South and Bridgwater are about the lifestyle and price point,” he said.
“It's in the low price range for comparable products.”
Lindblom said suburbs like Edwardstown, with properties in the $500,000 to $750,000 range, are hot markets at the moment.
“These properties are hotly contested, but they're quickly snapped up. There are plenty of suburbs like that,” he said.
“There is really, really strong demand for homes under $1 million.
“Between $500,000 and $1 million, there's very high demand. The higher the price, the fewer people are in that market.”
Ray White SA CEO Matt Lindblom. Photo: Accessories.
He believed days on market will remain low across the state until more housing is built to accommodate the rapidly growing population.
“I think we're still a year or two away from starting to solve that problem,” he said.
Regionally, properties in Goolwa South sell the fastest, with the region spending a median of 30.5 days on the market over the past year.
Middleton (37.5), Nuriotopa (38), Heyborough (39) and Port Elliot (42) followed.
Adelaide's best-selling suburb
(Suburban, median days on market in past year)
Bridgewater – 18
Plimpton Park – 23
Edwardstown – 28.5
Port Noarlunga South – 29.5
Smithfield – 30
McLaren Vale – 30
Grunge – 30.5
Happy Valley – 31
Hallett Cove – 32
North Plimpton – 32
Best-selling suburb in regional SA
(Suburban, median days on market in past year)
Goolwa South – 30.5
Middleton – 37.5
Nuriotopa – 38
Heyborough – 39
Port Elliot – 42
Goolwa – 42
Encounter Bay – 42
Tanunda – 42.5
Murray Bridge – 44
Goolwa Beach – 45
(Source: PropTrack/realestate.com.au)
