Adelaide’s Housing Market Continues to Surge: October Video Update

property update

Adelaide’s Housing Market Continues to Surge: October Video Update

Adelaide’s housing market is showing no signs of slowing down, with property values growing by 1.3% in September, continuing the momentum from August. This consistent growth has resulted in a 4% gain in values over the September quarter, representing a significant increase of almost $31,000 in the median property value.

Despite the customary spring rise in listings, the market is still tight. While the number of homes offered has increased marginally, inventory levels remain 12% lower than this time last year and 33% lower than the five-year average. Because of the scarcity of supplies, sellers have had an advantage in negotiations and pricing.

Demand for homes remains high, with properties selling at a higher rate than before. The median days on market fell to 26 days from 31 days a year before, demonstrating the market’s competitiveness. Buyers must act fast to secure properties, as residences are sometimes sold within weeks of being listed.

With home supply falling behind demand, Adelaide’s property market is now favorable to sellers, and this trend is expected to continue in the coming months. As prices climb consistently, purchasers may find it difficult to keep up, especially in such a competitive market. However, the growth demonstrates the strength and stability of Adelaide’s property market, making it an appealing destination for both investors and homeowners.

Adelaide house prices graph

Adelaide housing chart

For the time being, with supply staying tight and demand robust, Adelaide’s property market is projected to continue its upward trend, confirming the city’s status as a hotspot for real estate growth.