April Market Update 2024

Hello April! Let’s see what the property market is up to this month.

In March 2024, the PropTrack Home Price Index revealed that national home prices had surged to a new all-time high, rising by 0.34% and pushing prices up by 1.57% year-to-date. This represents a significant 6.79% increase compared to March 2023 levels.

Throughout the past 12 months, smaller capitals have consistently outperformed larger cities in terms of property price growth. This trend has continued into March. While prices in Adelaide saw a more modest increase of 0.31% in March, the city remains the strongest performer year-to-date, with prices up 2.24%.

The median dwelling value in Adelaide currently sits at $709,000.

Regional SA is experiencing the strongest growth across all regional areas nationwide, up 0.64% this year to date. Adelaide North and the Barossa ranked in the top 10 growth regions across the Nation, boasting a high annual growth rate of 17.3% and 15.3%.

Overall, Adelaide and Regional South Australia alike continue to be a standout performer in the national property market, with strong growth rates and limited supply driving prices to new heights.

With Adelaide’s home prices showing strong growth, we look forward to seeing what the coming months have in store for the housing market.
Say tuned to see what the next months bring to the Australian and South Australian property markets!

For all your conveyancing needs and professional assistance, please contact us:
Phone: 0413 783 166 
Email: sue@easternconvey.com.au