Adelaide’s housing market has been extremely resilient to any downwards pressure on housing values.
Apart from a 0.1% dip in home values last June, the market has been consistently rising to new record highs each month.
The past six months have seen house values rising at almost double the pace of units, up 5.8% compared with a 3.2% lift in unit values.
Home sales in the three months to January are tracking almost 23% higher than a year ago while total listing numbers are down 35% on last year.
Such low supply is creating some urgency amongst buyers, and empowering sellers, which can be seen in very fast selling times.
Adelaide homes are averaging 37 days to sell compared with 43 days a year ago.
Looking across Adelaide’s sub-regions, it’s the northern and the southern suburbs which are driving the strongest growth rates, with home values across Adelaide’s North up 3.9% over the past three months while the south is up 3.6%.
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