Even though the summer holiday season sales volumes were lower, we are still seeing great results for properties at all price points. Adelaide’s property market has held up well, with prices only falling 2.3% since their peak in July of last year.

The monthly pace of declines has been slow compared to the larger cities where housing is more expensive, despite the rate of reduction has been accelerating throughout the spring and early summer. Adelaide’s slump, like that of most other cities, slowed down in February, with values falling by just 0.2%. Very low advertised stock levels and a competitive rental market are probably the main factors keeping Adelaide from more significant drops.

A major contributor to Adelaide’s relative price stability continues to be listing levels.

According to statistical data, there are 12% fewer homes for sale in Adelaide now than there were a year ago when there were already limited listings.

Home values would undoubtedly be impacted by increasing supply levels, and there is evidence that more homes would likely come on the market as 2023’s halfway mark draws near.

Our team can help you reach your property goals in 2023! Whether you plan on buying or selling either commercial or residential property, Eastern Conveyancing is your SA conveyancer with over 20 years of experience.