July Market Update | Adelaide

The momentum in the Adelaide property market persists.

National home prices reached a new high in June, with a 0.18% increase in growth, the slowest since December 2022. Prices have risen by 10.14% from their low in December 2022, with a year-to-date increase of 3.14%, above 6.55% in June 2023 levels.

While price growth in capital cities slowed, there was still a 0.22% increase in June, resulting in a 6.91% year-on-year growth. However, performance varied across different cities.

In the past quarter, home price growth slowed in every capital city, with Perth, Brisbane, and Adelaide showing the strongest growth in June. Conversely, Melbourne, Hobart, Darwin, and Canberra experienced weaker growth, indicating varying levels of performance.

Looking locally, Adelaide recorded a strong price growth in June (0.45%). In keeping with the trend seen for the past two years, Adelaide remains one of the strongest cities for annual growth. Throughout the past year, smaller capitals have outperformed, and this trend persisted into June with Adelaide recording one of the fastest monthly growth. 

According to PropTrack, despite the national median value of $787,000, properties in Adelaide are relatively more affordable, with the median property value in the South Australian capital standing at $759,000. In the past month, Adelaide witnessed a slight increase in housing values by 0.52%, and dwelling values by 0.45%. However, unit values saw a decrease of -0.15%.

The current median house value is sitting at $810,000 and the median unit value is at $581,000.

In the upcoming months, Adelaide is anticipated to maintain its market outperformance, albeit at a slower pace. Its property market remains attractive to buyers seeking both affordability and appreciating real estate investments. 

Stay updated with our Monthly Property Market Updates for invaluable insights into both the Australian and South Australian property markets!

Should you need assistance with buying or selling property, our experienced team is ready to help you achieve your goals—don’t hesitate to contact us.

Sources:
https://www.realestate.com.au/insights/proptrack-home-price-index-june-2024/
https://www.abc.net.au/news/2024-05-01/house-prices-breakdown-by-state-territory-capital-city-region/103784240

Refined Real Estate

Written by

Refined Real Estate

08 8357 9001

reception@refined.com.au

Refined Expertise

June Market Update | Adelaide

June Market Update | Adelaide

The momentum in the Adelaide property market persists. In May 2024, the PropTrack Home Price Index revealed a 0.30% uptick in national home prices, setting a new record for the month and marking a 2.73% increase year-to-date. Driven by demand surpassing supply,...

May Market Update | Adelaide

May Market Update | Adelaide

Adelaide and Regional SA property markets maintain steady growth. In April 2024, the PropTrack Home Price Index reported a national increase in home prices of 0.23%, reaching a new record high. Year-to-date, prices have risen by 1.97%, marking a 6.60% increase...

April Market Update | Adelaide

April Market Update | Adelaide

Adelaide and Regional SA property markets rise to new heights. In March 2024, the PropTrack Home Price Index unveiled a record-breaking high in national home prices, with a 0.34% increase propelling prices up by 1.57% year-to-date. This marks a substantial 6.79% jump...

March Market Update | Adelaide

March Market Update | Adelaide

Adelaide maintains its position as one of the nation’s top-performing markets.In February 2024, the PropTrack Home Price Index reported a 0.81% month-on-month increase in Adelaide home prices, surpassing all other Australian capital cities and establishing a new peak...

February Market Update | Adelaide

February Market Update | Adelaide

The Adelaide property market in 2024 is influenced by several important factors, including interest rate changes, government policies, infrastructural developments, and buyer demand. These factors are creating a complex and dynamic market landscape, with experts...

How long does it take to sell a house in SA

How long does it take to sell a house in SA

The simple answer to this question in the current vibrant SA real estate market, is about one to three weeks. But, every property is unique and there are many variables which will determine how quickly a property will take to sell - so let’s take a look at some of...

Spotlight on Glenelg

Spotlight on Glenelg

The pristine white sands of Glenelg beach welcome you. Glenelg is easily accessible by a direct tram route from the heart of the city. Beautiful pines line the streets and the beach is rated one of the best in Adelaide. Glenelg is a thriving suburb close to schools,...

Preparing Your Home for Sale

Preparing Your Home for Sale

At Refined, we understand the importance of putting the finishing touches to your home in preparation for selling. Styling your home both inside and out shows clean presentation and allows potential buyers to get a feel for the property. Preparing your home for sale...

A Hidden Gem

A Hidden Gem

In Coromandel Valley you can find many hidden treasures, including The Duck Inn Hotel, more than just your local watering hole, it boasts a gorgeous dining room, a welcoming bar and a picturesque deck with ample seating. 'The Duck' is a popular Adelaide Hills pub...

May Market Update | Adelaide

May Market Update | Adelaide

Adelaide and Regional SA property markets maintain steady growth. In April 2024, the PropTrack Home Price Index reported a national increase in home prices of 0.23%, reaching a new record high. Year-to-date, prices have risen by 1.97%, marking a 6.60% increase...

April Market Update | Adelaide

April Market Update | Adelaide

Adelaide and Regional SA property markets rise to new heights. In March 2024, the PropTrack Home Price Index unveiled a record-breaking high in national home prices, with a 0.34% increase propelling prices up by 1.57% year-to-date. This marks a substantial 6.79% jump...

March Market Update | Adelaide

March Market Update | Adelaide

Adelaide maintains its position as one of the nation’s top-performing markets.In February 2024, the PropTrack Home Price Index reported a 0.81% month-on-month increase in Adelaide home prices, surpassing all other Australian capital cities and establishing a new peak...

February Market Update | Adelaide

February Market Update | Adelaide

The Adelaide property market in 2024 is influenced by several important factors, including interest rate changes, government policies, infrastructural developments, and buyer demand. These factors are creating a complex and dynamic market landscape, with experts...

How long does it take to sell a house in SA

How long does it take to sell a house in SA

The simple answer to this question in the current vibrant SA real estate market, is about one to three weeks. But, every property is unique and there are many variables which will determine how quickly a property will take to sell - so let’s take a look at some of...

Spotlight on Glenelg

Spotlight on Glenelg

The pristine white sands of Glenelg beach welcome you. Glenelg is easily accessible by a direct tram route from the heart of the city. Beautiful pines line the streets and the beach is rated one of the best in Adelaide. Glenelg is a thriving suburb close to schools,...

Preparing Your Home for Sale

Preparing Your Home for Sale

At Refined, we understand the importance of putting the finishing touches to your home in preparation for selling. Styling your home both inside and out shows clean presentation and allows potential buyers to get a feel for the property. Preparing your home for sale...

A Hidden Gem

A Hidden Gem

In Coromandel Valley you can find many hidden treasures, including The Duck Inn Hotel, more than just your local watering hole, it boasts a gorgeous dining room, a welcoming bar and a picturesque deck with ample seating. 'The Duck' is a popular Adelaide Hills pub...

April Market Update | Adelaide

April Market Update | Adelaide

Adelaide and Regional SA property markets rise to new heights. In March 2024, the PropTrack Home Price Index unveiled a record-breaking high in national home prices, with a 0.34% increase propelling prices up by 1.57% year-to-date. This marks a substantial 6.79% jump...

March Market Update | Adelaide

March Market Update | Adelaide

Adelaide maintains its position as one of the nation’s top-performing markets.In February 2024, the PropTrack Home Price Index reported a 0.81% month-on-month increase in Adelaide home prices, surpassing all other Australian capital cities and establishing a new peak...

February Market Update | Adelaide

February Market Update | Adelaide

The Adelaide property market in 2024 is influenced by several important factors, including interest rate changes, government policies, infrastructural developments, and buyer demand. These factors are creating a complex and dynamic market landscape, with experts...

How long does it take to sell a house in SA

How long does it take to sell a house in SA

The simple answer to this question in the current vibrant SA real estate market, is about one to three weeks. But, every property is unique and there are many variables which will determine how quickly a property will take to sell - so let’s take a look at some of...

Spotlight on Glenelg

Spotlight on Glenelg

The pristine white sands of Glenelg beach welcome you. Glenelg is easily accessible by a direct tram route from the heart of the city. Beautiful pines line the streets and the beach is rated one of the best in Adelaide. Glenelg is a thriving suburb close to schools,...

Preparing Your Home for Sale

Preparing Your Home for Sale

At Refined, we understand the importance of putting the finishing touches to your home in preparation for selling. Styling your home both inside and out shows clean presentation and allows potential buyers to get a feel for the property. Preparing your home for sale...

A Hidden Gem

A Hidden Gem

In Coromandel Valley you can find many hidden treasures, including The Duck Inn Hotel, more than just your local watering hole, it boasts a gorgeous dining room, a welcoming bar and a picturesque deck with ample seating. 'The Duck' is a popular Adelaide Hills pub...

March Market Update | Adelaide

March Market Update | Adelaide

Adelaide maintains its position as one of the nation’s top-performing markets.In February 2024, the PropTrack Home Price Index reported a 0.81% month-on-month increase in Adelaide home prices, surpassing all other Australian capital cities and establishing a new peak...

February Market Update | Adelaide

February Market Update | Adelaide

The Adelaide property market in 2024 is influenced by several important factors, including interest rate changes, government policies, infrastructural developments, and buyer demand. These factors are creating a complex and dynamic market landscape, with experts...

How long does it take to sell a house in SA

How long does it take to sell a house in SA

The simple answer to this question in the current vibrant SA real estate market, is about one to three weeks. But, every property is unique and there are many variables which will determine how quickly a property will take to sell - so let’s take a look at some of...

Spotlight on Glenelg

Spotlight on Glenelg

The pristine white sands of Glenelg beach welcome you. Glenelg is easily accessible by a direct tram route from the heart of the city. Beautiful pines line the streets and the beach is rated one of the best in Adelaide. Glenelg is a thriving suburb close to schools,...

Preparing Your Home for Sale

Preparing Your Home for Sale

At Refined, we understand the importance of putting the finishing touches to your home in preparation for selling. Styling your home both inside and out shows clean presentation and allows potential buyers to get a feel for the property. Preparing your home for sale...

A Hidden Gem

A Hidden Gem

In Coromandel Valley you can find many hidden treasures, including The Duck Inn Hotel, more than just your local watering hole, it boasts a gorgeous dining room, a welcoming bar and a picturesque deck with ample seating. 'The Duck' is a popular Adelaide Hills pub...