March 2022 – Market Update

The Adelaide property market saw a 2.2% rise in January, down from 2.6% last December.

This took the median home value to $584,629 heading into February.

Last month, Adelaide properties took an average of just 24 days to sell, compared to 38 days in 2022.

Despite this slight decline in growth, Adelaide continues to record one of the highest rates of value growth across the nation, with house prices up 7.4% over the rolling quarter and 24.8% over the past 12 months.

Analysts suggest that prices are set to rise again for the rest of 2022, across Adelaide and the nation alike. REA Group’s latest Prop Track report has predicted that the Adelaide market will see a 6-9% growth for the rest of 2022. This figure is on par with the nation’s predicted growth of 6-9% (capital cities combined). Here, Adelaide’s predicted growth is higher than that of Sydney and Melbourne (4-7%), whilst Brisbane (8-11%) and Hobart (9-12%) top the predictions.

Our team can help you reach your property goals in 2022! Whether you plan on buying or selling either commercial or residential property, Eastern Conveyancing is your SA conveyancer with over 20 years’ experience. Contact us today.