hello from the marx team.
Time flies, doesn't it? It feels like just yesterday we were welcoming the new year, and now, Santa's arrival in the Barossa is right around the corner.
 
As we approach the end of the year, we wanted to provide you with an update on the current state of the market.
 
This month marked the 13th interest rate increase by the RBA, resulting in a total rise of 4.25 percent in official rates over the past 18 months. Surprisingly, despite these rate hikes, the demand for housing has remained robust, and property prices have continued their upward trajectory.
 
The past three months have shown stronger-than-expected market conditions, leading banks to predict a further 5% increase in house prices in 2024. Adelaide is poised to be one of three capital cities set to reach new price peaks. If you're considering selling your property, don't hesitate to reach out to our team today. The market is showing promising signs, and we're here to help you make the most of it.
 
 
 
 
 
 
 
 
Barossa Real Estate Numbers - November 2023
Tanunda Median Sales Price - $584,000 
Tanunda Growth 2023 - 13.2% 
Tanunda No. of Sales - 53 
Nuriootpa Median Sales Price - $505,000
 Nuriootpa Growth 2023 - 13.6% 
Nuriootpa No. of Sales - 102
Angaston Median Sales Price - $555,000
Angaston Growth 2023 - 16.1%
Angaston No. of Sales - 29
 
 
 
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Until next time, 
 
The Marx Team
 
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