Competition for hot property in one Adelaide suburb is heating up, with exclusive data revealing there are almost 100 buyers for each house on the market.
Stirling houses are in high demand, according to latest PropTrack figures, which show the Adelaide Hills suburb has an average of 93 serious buyer inquiries per house listing.
It was followed by St Peters, with 79 inquiries per listing, and Vale Park, Crafers and Elizabeth North, each with 72.
Harcourts Adelaide Hills agent Sam Oborn said there was a “gravitational pull” towards any house that hit the market in Stirling because they were so few and far between.
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The Stirling property at 53 Old Mount Barker Rd sold in June for an undisclosed price.
“There’s really not a great deal of stock on in that area,” he said.
“When you put them on the market there’s this massive gravitational pull.
“It’s always been a premier blue chip suburb in the hills – it’s the flagship suburb of the hills.”
But with a median house price of $1.365m, according to the data, Mr Oborn said it was not an area everyone could afford to buy in.
Further west, competition for units in Henley Beach was just as fierce, with an average of 80 inquiries per listing.
Salisbury and Campbelltown rounded out the top three suburbs with the most buyer demand for units, with 58 and 56 respectively.
Belle Property Henley Beach/Glenelg principal Jae Curtis said interest in Henley Beach units was almost non-existent just a decade ago.
“Then we would probably find one buyer after three months but that’s certainly changed a lot since Covid,” he said.
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Henley Beach units were proving popular among first-time buyers.
“If there’s one single reason that units have gone crazy, it’s just affordability.”
With a median price of $705,000, according to the data, Mr Curtis said it had become an entry point for many buyers.
He said long gone are the days first-time buyers are encourage to invest in a freestanding house on a large block.
“It’s just not possible for young people anymore so we’re finding that they’re purchasing units for the first time, or their parents are purchasing for them down the track,” Mr Curtis said.
“It’s a beautiful place to live.”
Mr Curtis said an influx of TikTok videos wrapping up the best places to invest in across the country were also encouraging people interstate to invest in the area.
“Your investment no longer needs to be in the suburb next to you,” he said.
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