Market Update - July 2022

Market Update – September 2022

Throughout August, Adelaide has maintained its position as one of the few capital cities where housing values are still increasing, even despite increased interest rates and a recent history of increasing values.

Dwelling values have increased by almost 45% through the growth cycle so far, adding an estimated $201,000 to the value of an Adelaide dwelling. The current median dwelling value sits at approximately $629,000.
The number of houses sold in Adelaide remains strong, up 22% this quarter compared to this time last year.

Although the Adelaide market has continued to grow, the pace of this growth is evidently slowing. The quarterly growth rate has reduced from 7.4% over the three months to January, to 3.6% over the most recent three-month period.
Based on this trajectory, it is predicted that the Adelaide housing market will shift into a decline in the coming months.

Looking nationally, Australian dwelling prices fell 1.3% over the month of July according to CoreLogic data, with the pace of decline accelerating in the largest cities.

The median house price in Australia’s combined capital cities is $928,812.

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