Market Update - July 2022

Market Update – December 2022

Last month, every capital city and regional area in Australia, except for Regional SA, experienced a drop in housing values. The national dwelling value dropped 1.2 per cent, marking the sixth monthly decline in home price.

However, on the home front in South Australia, this decline in home values has been mild to date, with values slipping 0.3% lower in October to be 0.6% down from their peak in July.

Currently, the median value for a house in Adelaide sits at just above $706,000, which has increased by an significant $203,000 during the growth phase. The median value for a unit in Adelaide is $436,000.

Adelaide is also showing the tightest rental market conditions in the nation, with a vacancy rate of just 0.3%, which is likely to continue for the foreseeable future.

As we progress into 2023, if continuing on their current trajectory, housing prices are set to continue to steadily decline nationwide and on Adelaide soil.

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.