Real Estate

Price Expectation Report reveals happiest places to live in SA

Written by The ReReport
As seen in the Source link, written by on 2019-03-07 02:20:38

Property sellers in Playford and Mitcham are among the happiest in the country with a third of them regularly getting more off their homes sales than bargained for.

That’s according to Real estate review website RateMyAgent, which this week unveiled Australia’s top 10 happiest regions for sellers in its new Price Expectation Report.

The company surveyed over 36,000 house sellers who logged in to the website over the past eight months, asking if their house sale was above, in-line, or below expectation.

Playford and Mitcham came in at number five and seven of Australia’s top 10 happiest locations for sellers – representing two of just three metro council regions on the list.


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According to the data, 51 per cent of sellers in Playford sold above price expectations between April and December last year (the area has a median sale price of $245,000, according to CoreLogic), while Mitcham, which has a median house price of $640,000, responded at 49 per cent.

Other Adelaide council regions with at least a third of homes selling above expectations included Marion (43 per cent), Port Adelaide Enfield (42 per cent), Onkaparinga (40 per cent), and Norwood Payneham & St Peters (37 per cent).

RateMyAgent founder Mark Armstrong said sales results in Adelaide were driven by market affordability – especially when compared to Melbourne and Sydney.

“People are looking for affordability and looking for a tree change or a sea change, as prices become less affordable, people move away from metropolitan areas,” he said.

“Markets like Adelaide are also more sustainable so you don’t get hard adjustments (when prices drop) on the other site.

“Also, more people can afford a $500,000 home over a $1.5 million home, so may be inclined to spend more on the property of their dreams.”

Nationally, Tasmania was the happiest state overall, with 44 per cent of sellers reporting above expectation property prices.