Adelaide housing market update [video]

Key takeaways

In October: Adelaide dwelling values rose by 1.1%

Over the quarter: Dwelling values increased by 4.1%

Over the past year: Dwelling values increased by 22.6%

Adelaide dwelling values are currently at a record high

Adelaide is showing little signs of losing momentum, with housing values rising a further 1.1% in October, the eighth month in a row where values have risen by more than 1% month on month.

The latest rise has added approximately $8,540 to the median dwelling value across the city. The local unit market is driving the strongest gains, with values up 18.5% over the past 12 months, while house values have gained 14.5%.

Similarly, the lower quartile of the housing market is driving the strongest value gains, up 21.2% over the past year, while upper quartile values have increased at almost half this rate, up 12%.

Adelaide house prices graph

Rental markets are slowing down, but rents are still rising.

You may also want to read: National Housing Market Update

About Tim Lawless
Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au