The hottest property in Adelaide for first home buyers has been in the Northern Suburbs, according to State Govt data.
Of the 24 auctions reported to Home Price Guide yesterday, 14 - or 54% - were sold. This is compared to a 65 per cent sale rate last weekend and 43 per cent on the same weekend last year.
The number of new home loans taken out by new home buyers reached record levels in January following the boost to the grant in October 2008. More grants (489) were used to buy homes in postvcode 5108 which includes Paralowie and Salisbury, than in any other area last financial year. Other popluar suburbs in the north for first home buyers were Andrews Farm, Blakeview and Craigmore.
In the southern suburbs, 287 grants were used to buy properties in Aberfoyle Park, Chandlers Hill, Flagstaff Hill, Happy Valley, Morphett Vale and Woodcroft.
Real Estate Institute of South Australia president Robin Turner said the first home grant boost in October last year had helped to underpin the real estate market in the face of the global financial crisis. Mr Turner said houses priced between $300,000 and $400,000 had been the most popular with people buying for the first time.