Market Update – September

As we progress deeper into the third quarter of 2023, it is remarkable to witness the ongoing stability and resilience of both the Adelaide and national housing markets amid ongoing economic shifts! 

On a national front, the national home value index rose by 0.7% last month, marking a fifth consecutive month of growth. 

Last month, Adelaide and Brisbane led the capital cities with the highest increase in home values in the nation, rising by 1.4%. This took the Adelaide housing market back to a record high.

Currently, the median house value in Adelaide sits at $722,793 whilst the median unit value is $456,076.

Whilst the number of new listings in Adelaide has increased in recent months, home availability is still significantly low – a significant 44% below the 5-year average.

Looking forward, property prices in Adelaide are expected to increase by 3-6% between now and the end of the year, according to PropTrack’s August Property Market Report, whilst the national prices are predicted to increase by up to 5%.

Whether you’re a buyer, seller, or investor, stay tuned to see what the next months bring to the Australian and South Australian property markets! 

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