Where the median house price jumped nearly 40 per cent in 12 months
The Adelaide suburb of St Peters has seen a huge jump in values, with the median house price increasing from $950,000 in 2014 to $1,252,500 in 2015 - a jump of 36 per cent in 12 months.
Let’s look at the top four market share positions today. LJ Hooker is the brand with the highest market share at 15 per cent and Independent business Toop & Toop is in second position with nine per cent market share. Harcourts hold third highest market share with seven per cent and Harris real estate has four per cent.
And sales have remained strong. All houses that were sold in July 2016 all achieved a price of $1.1 million or more. Of the past 12 months, 48 per cent of property sales achieved $1 million or more.
Predominantly an owner-occupier market, 39 per cent of residents own their properties outright, and 31 per cent are purchasing. With unit prices more affordable, at $315,000, there is strong investment component to the suburb - around 30 per cent of residents are renting.
The suburb is popular with young families and 44 per cent of local are under 35.
The opportunity to open a business in the heart of St Peters is with Ray White. If it's an area of interest for you, we can help you build a competitive business. Talk to us today.
Contact:
Andrew McCulloch | +614 7903 9440
