Coronavirus real estate: househunters haven’t abandoned South Australia’s property market

The Sheidow Park house at 18 Harbour St was listed this week. Pic: realestate.com.au

Househunters determined to find their dream home are not letting recent restrictions on the real estate industry get in their way.

A ban on in-room and on-site auctions and open inspections, to limit the spread of coronavirus, has not scared off eager buyers.

Magain Real Estate agent Travis Denham listed a property at Sheidow Park yesterday, confident he could find a buyer.

“The vendor and I did have a discussion about what we should do now,” he said.

“I said, ‘there are still properties selling’.

“Last week I sold three, this week I’ve sold two.”

Mr Denham said no one knew what the market would look like in a month so the vendor had decided to list the property at 18 Harbour St.

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The owner of the house at 18 Harbour St didn’t want to put off listing the property any longer. Pic: realestate.com.au

He said those buying property tended to work in industries not impacted by COVID-19.

CoreLogic’s hedonic index revealed home values continued to climb in March.

Adelaide recorded 0.3 per cent growth over the month to a median value of $437,296, and nationally, values rose 0.7 per cent to a $554,229 median.

However, the trend weakened in the second half of March when social distancing rules were introduced.

Ray White Port Adelaide agent Petra Mells was taking a Semaphore house at 283 Military Rd to auction on the weekend.

While live streaming auctions were new to Ms Mells, she said many househunters preferred the method as it allowed them to remain anonymous while bidding.

The Semaphore property at 283 Military Rd will go to auction on the weekend. Pic: realestate.com.au

A Birkenhead house at 32 Close St is also due to go under the hammer this weekend. Pic: realestate.com.au

“A lot of people will try to avoid auctions because they don’t like people to see what they’re doing,” she said.

Ms Mells said there was still confidence in the market and plenty of properties continuing to change hands.

Harcourts Smith agent Eileen Mousley was proceeding with the auction of a Birkenhead house at 32 Close St because of its sought-after character and location.

“There are heaps of buyer inquiries so that’s a good thing,” she said.

“We’re confident in the process.”