Adelaide Property Market Surges in October: Growth Continues Amid Tight Supply.
Adelaide’s property market continues to shine, showing steady resilience as we enter the spring selling season. Home prices in the city rose by 0.53% in September 2024, marking a growth of 1.3%.
Despite National trends slowing, Adelaide outperforms other capitals due to strong demand and tight supply. The city’s median dwelling value now sits at $802,075, slightly below the National average but reflecting a promising upward trajectory.
The National median house value is $873,116, while the median unit value sits at $663,589, demonstrating Adelaide’s relative affordability. Buyers and investors remain optimistic, drawn to the city’s balance of affordability, growth potential, and desirable living conditions. With a moderate pace of growth forecast for the remainder of 2024, Adelaide is expected to maintain its status as a strong performer in the Australian property landscape.
For anyone considering property investment or looking to buy or sell, our expert team at Refined Real Estate is here to guide you through Adelaide’s thriving market. Contact us for professional advice and insights tailored to your needs.
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/news/proptrack-home-price-index-september-2024/
https://www.corelogic.com.au/__data/assets/pdf_file/0012/24303/CoreLogic-HVI-Oct-2024-FINAL.pdf?gad_source=1&gclid=Cj0KCQjwu-63BhC9ARIsAMMTLXT3KVyMQUEpg0K4Xo87zJaDWY74aAEV7jD1e-iJeMbPBcrRMFrP_kEaAjYBEALw_wcB
