Property Market Recap 2021

The property market finished 2021 with incredible results for SA and the nation alike.


In total, 2021 saw 166,684 capital city auctions take place across the nation, swiftly surpassing 2017 as the busiest auction year on record (109,268). December saw four consecutive weekends where more than 4000 capital city homes were taken to auction nation
wide – something that has never been seen ever before. Not only this, but the second to last week of the year took the title of the second busiest auction week since records began in 2008. The supply of properties for sale struggled to keep up with heightened national demand in 2021, where for every new property entering the market, 1.4 properties were sold.

South Australia:

On local SA soil, the numbers followed a similar growth trajectory. In 2021, the median Adelaide house price increased 22.5% to $560,000; the highest annual growth rate on record. Additionally, the number of home sales across 2021 was the highest since 2002. The average time on the market for a house in Adelaide was a short 27 days, a further symptom of the tight supply situation.
Whilst Adelaide experienced strong growth overall, this growth was far from equal across geographical areas of the city. On one end of the spectrum, Burnside saw a 34.2% annual price increase, compared to Adelaide city which saw just a 4.4% increase as a result of a weaker unit sector. Further elaborating on this geographic variability, REISA (The Real Estate Institute of Australia) suggested that whilst metro Adelaide finished 2021 with a median house price of $560,000, central metro locations had a median value of $671,000, and across the inner metro neighbourhoods the median house value was a high $991,950. Despite the gains, 2021 finished with Adelaide still being classified as one of Australia’s most affordable capital cities.