Local News

RIVERLAND PROPERTIES BEING SNAPPED UP QUICKER 

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While some housing markets in South Australia appear to be somewhat cooling down, one Riverland town appears to be doing the opposite.

Outlined in Well Home Loans Green Shoots Report, properties in Berri were being snapped up quicker last month than the start of this year,  with the average days on the market falling from 91 days in January, to just 66 days in April - A drop of 26.1%

The median house price over that time for Berri also jumped by 3.7% to $249,000.

Well Home Loans CEO Scott Spencer said “Inventory levels and days on market have fallen in all locations over the three months to April, often from already low levels, which shows buying conditions have become harder”.

Mr Spencer added “Vendors have noticed, raising their asking prices in all the locations. This is likely to translate to higher selling prices in the second half of the year". 

Image by Schluesseldienst from Pixabay