Over the last year South Australia has emerged with a strengthening property market. Having experienced a couple of slow financial years, investment opportunities, particularly around Adelaide are looking bright.
Over the last year, the median house price increased by 3.5% in capital city Adelaide, sitting at $522,815 in December 2017. (Source: Domain Group House Price Report, December 2017).
According to LocalAgentFinder research, the properties that buyers are seeking are those with good lifestyle benefits; homes close to shopping districts, schools, and public transport are hot and in demand.
The festival state is becoming popular with both renters and buyers with good affordability in the housing market and low rental rates along the South Australian.
What do real estate agents charge in South Australia?
On average in South Australia, real estate agent fees are the lowest in the country at 1.98% for residential properties. While this depends on suburb, and to some extent depends on the type of property for sale, some general patterns in commission rates have emerged across the state.
South Australia’s capital, Adelaide, shows a lower real estate agent commission average at 1.93% compared to the state average of 1.98%. Country areas with slower property markets, higher prices, and fewer real estate agents often exhibit higher real estate agent fees. While lower real estate fees are shown in city areas with lively property markets and a higher competition among real estate agents.
What to consider when finding the right agent to sell your home
The South Australian property market is showing signs of strengthening, so comparing agents to find one that knows how to take advantage of the situation could be more beneficial.
Agents in rural South Australia on average will charge a higher commission rate than agents close to the Adelaide metro region.
The commission that an agent charges isn’t necessarily the final cost; check which services, your agent includes in the fee, and ask what isn’t included in the fee.
Want to find out what real estate agents are charging in your area?
To determine the average commission by state, LocalAgentFinder took the average commission of all active agents in each state respectively on 21 March 2018. This included agents with tiered and fixed commission structures based on a $500,000 selling price. The same method was applied to calculate the average commission in capital cities.
This article was updated on 11th April 2018