Adelaide remains one of the country’s top performing markets according to the PropTrack Home Price Index Report for June 2024.^
The city’s home prices rose 0.45% in June to reach a new peak median value of $759,000, an increase of 14.61% year-on-year.
The comparative affordability of Adelaide homes has seen prices defy the significant increase in interest rates since May 2022. Low stock levels are also intensifying competition. However, monthly growth eased in June to the slowest pace since March 2023.
In regional South Australia, home values fell 0.13% in June to reach a median dwelling value of $441,000. Nonetheless, annual price growth across the state’s regions stands at 11.79%, the second highest rate of regional price growth over the past year behind regional WA (up 16.27%).
^https://www.proptrack.com.au/home-price-index/
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