Adelaide’s Property Market Remains One of Australia’s Strongest Performers
Adelaide’s property market continues to demonstrate resilience as the spring season unfolds, maintaining its status as one of Australia’s most robust housing markets. Despite national trends showing signs of cooling, Adelaide is bucking the trend with home prices rising 0.43% in October 2024, a steady increase contributing to an annual growth of 14.9%—one of the highest among Australia’s capital cities. Adelaide’s property market has shown remarkable strength, with its median dwelling value climbing to $783,000—a figure that continues to reflect a healthy upward trend, even though it falls slightly below the national average. Compared to the national median house value of $860,000 and a median unit value of $661,000, Adelaide stands out as an affordable yet promising option, appealing to a wide range of buyers from first-home seekers to investors. This favourable position is further supported by a tight supply and strong demand. Limited inventory in the Adelaide market fuels competition and keeps prices on the rise, allowing the city to outperform other capital cities. These dynamics make Adelaide a prime market for those seeking stability, growth and affordability, all while enjoying the lifestyle benefits this city offers. For investors and homebuyers alike, Adelaide’s real estate market presents a rare balance of accessibility and growth potential, reaffirming its status as an attractive market within Australia’s property landscape.
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Sources:
https://www.corelogic.com.au/__data/assets/pdf_file/0022/24745/Weekly-market-update-week-ending-2024-October-27.pdf
https://cdn.rea-group.com/wp-content/uploads/2024/10/25000930/PropTrack-Market-Insight-Best-Time-to-Sell-October-2024.pdf
https://adelaide.nationalpropertybuyers.com.au/q3-2024-adelaide-property-market-report/
https://www.realestate.com.au/insights/proptrack-home-price-index-october-2024/
