Jock Gilbert gives a market update as the concern grows over the national economy.

Adelaide continues to display the stability in real estate prices for which it is well known. The first home buyer and unit sector remains strong, while other sectors are selling but with longer days on market.

Vendors selling can be safe in the knowledge that they have made significant capital gains in the last few years. Vendors who have recently purchased and are now selling are doing so on an even playing field.

Statistics are showing that the vacancy rental rate for properties is now approaching 3%. At Jock Gilbert Real Estate the vacancy rate is .5%, showing that well maintained and managed properties are still renting out well.

All the data is telling us there are challenging times ahead. With sound judgment and management of the marketing process properties are still achieving good prices. Auction is still a good market option where the property is likely to attract strong interest, as was the case with a recent auction sale which had 14 registered bidders and sold well.

Until next time….