Key takeaways
In July: Adelaide dwelling values rose by 1.8%
Over the quarter: Dwelling values increased by 5.0%
Over the past year: Dwelling values increased by 15.5%
Adelaide dwelling values are currently at a record high
Nationally, home values rose another 0.5% in July on par with the 0.5% increase recorded in June and the 18th consecutive monthly increase in home values nationally.
The growth trend in Adelaide dwelling values has accelerated over the past three months with values rising 5% over the rolling quarter, the fastest growth trend since the three months leading into the rate hiking cycle in May 2022.
The lower quartile of the market is recording a substantially stronger growth outcome with values up 20.9% over the past year compared with a 13.3% rise in values across the most expensive quarter of the market.
Adelaide house prices graph
Similarly, unit values are rising at a faster rate than houses, up 18.5% and 15.1% respectively over the year.
Note: If the current growth trajectory continues, which looks likely, we will see Adelaide's median dwelling value overtake Melbourne's in August, something we haven't seen before.
Growth in regional housing values is once again lagging behind the capitals with a rolling quarterly rise of 1.3% across the regionals index compared with a 1.8% gain across the capitals.
Mimicking the growth pattern seen across the capital cities, regional Western Australia, regional South Australia, and regional Queensland led the role in quarterly change.
Regional Victoria was the only rest of state market to record a decline in values over the three months ending July with values down 1.4%.
Another broad theme in the housing data is that unit values are rising faster than houses across most of the capital cities.
The only exceptions over the past three months were Darwin and the ACT, where affordability barriers are less pressing, and also there's a history of higher supply levels across the medium to high density sectors that's been more apparent.
You may also want to read: National Housing Market Update
