Adelaide Property Market Keeps Up Before the Year Ends

As we approach the end of 2024, Adelaide Property Market soars against the National. Although price growth has eased, Adelaide surpassed national trends with a monthly growth rate of 0.4% for dwellings, compared to the national rate of only 0.2% as of November 2024.

Over the past year, Adelaide continues to be one of the leading capital city markets for annual growth, with property values increasing by 14.64%. In November, Adelaide’s $616,000 median property values for units exceeded those of Melbourne at $606,000, highlighting Adelaide’s strong performance in the housing market compared to one of Australia’s traditionally dominant capital cities. 

What Makes Adelaide Shine Brighter Than the Rest

Adelaide’s sustained growth is driven by several key factors. The city offers an attractive mix of affordability, quality of life, and investment potential. With a median house price below the national average, it continues to appeal to both buyers and investors aiming for long-term gains. Additionally, the constrained housing supply amplifies demand, keeping prices competitive and likely to support consistent growth throughout the rest of 2024.

Investors and Buyers Maintain Confidence

Buyers have enjoyed a wider range of options as the volume of properties for sale has increased. However, this rise in available stock has contributed to a slowdown in the pace of price growth over the past quarter across these three markets. Despite the notable uptick in new listings throughout spring, the overall availability of properties on the market remains well below historical averages. Total stock levels continue to be at historically low levels, as the influx of new listings is rapidly absorbed by robust buyer demand, reflecting the strong competition in the market. This dynamic highlights the ongoing tension between supply and demand, which is expected to influence market trends in 2025.

Contact Us Today

For professional conveyancing services and property market insights, Eastern Conveyancing is here to help you navigate Adelaide’s dynamic market with ease. Reach out to our team for expert advice tailored to your specific needs.

Sources:
https://www.realestate.com.au/insights/proptrack-home-price-index-november-2024/