May Market Update 2024

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

In April 2024, the PropTrack Home Price Index revealed that Adelaide continues to be one of the strongest-performing markets.
Adelaide remains the second strongest market for monthly growth, recording a 0.55% increase, following Perth at 0.83%. Impressively, Adelaide’s prices have surged by 13.99% over the past 12 months, with the median dwelling value now at $730,000—relatively more affordable compared to the national median of $774,000.

Breaking it down further, the median house value in Adelaide stands at $781,000, while units come in at $553,000.
The scarcity of housing in Adelaide has intensified competition among buyers, leading to rapid price escalations and a limited selection of properties, heightening market competitiveness.

The property market in Adelaide is displaying robust growth and remains an appealing choice for buyers seeking affordable yet appreciating real estate investments.

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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