Adelaide House Sales Rising?

Residents in Adelaide may be interested by news that house sales seem to be rising in the state.

According to a June quarter report released by the Real Estate Institute of South Australia(REISA), the South Australian capital has been experiencing an increase in purchasing activity.

REISA president Greg Moulton said this could be a sign that the real estate market is rebounding after the interest rate cuts earlier this year.

"The preliminary data has recorded nearly 3800 sales in the June quarter, and this figure will continue to edge up as data is finalised," Mr Moulton said.

"This is up on the March quarter’s volume and will end up stronger than the same quarter last year."

Median house prices in Adelaide's urban areas have risen in the past quarter which may be a precursor to the property market becoming stronger in the last half of the year, he said.

He expected it to be a slow recovery but added that people have starting to think about property again both in terms of buying and investment.

With sales picking up, now may be a good climate for homeowners to reassess their options.