Fresh off the back of Adelaide being named the No.1 capital city for Australian house price growth, a successful Unley property auction has underlined the strength of the market here.

The attractive stone-fronted villa at 27 Queen Street, Unley sold under the hammer after attracting solid bidding for leading Toop&Toop sales partner and auctioneer, Tim Thredgold.

New research released by property analyst group Hotspotting named Unley among 56 Adelaide suburbs to show median house-price growth over the past 12 months, compared to just 18 in Sydney, 21 in Brisbane and Melbourne, 35 in Perth and 10 in Hobart.

“In terms of growth momentum, (Adelaide) is the outstanding market in Australia but it continues to fly under the radar and remains the nation’s most underrated market,” Hotspotting’s Terry Ryder told The Advertiser.

“In the five years Hotspotting has been conducting quarterly surveys of sales activity and price trends, Adelaide has never delivered a poor result.

“Most cities have had peaks and troughs in that time but Adelaide just keeps on producing steady markets with consistent demand.”

Unley has been a consistently strong performer, with the median house price breaking through the $1m barrier for the first time in May of this year.

It has experienced growth of more than $100,000 in 2019 alone, the median house price rising from $951,250 in January to its current level of $1.075m*.

“Unley is such a popular spot and it has been for a good long time,” Thredgold said.
“We had five registered bidders for this auction and two got seriously involved.

“Unley’s always in high demand. There are lots of character homes and there’s easy access to the city, while Unley Road and King William Road are within a stone’s throw.

“The lifestyle part of Unley is fantastic.”

Thredgold said the successful result reinforced the value of auction as a method of sale.
“The auction process in this case was brilliant,” he said.

“It really does cut through to those who are serious.

“From an owner’s point of view, there are a lot of advantages.

“In this instance, the people are moving to Sydney. They can go away with the full knowledge that the property is sold and we’re not waiting for finance to be approved or any other conditions.

The job’s done and the sold sticker goes on the board.

“It’s a very clean, simple and transparent process for everyone to be involved in.”

*CoreLogic data