Adelaide was one of the few housing markets to record a rise in housing values through May.
Over the month the Adelaide market recorded a rise of 0.4%, with house and unit values recording a similar lift.
The strongest conditions over the month came from the Western suburbs where values were up 1.1% in May, while the more affordable northern suburbs were the only sub-region to record a drop in home values, down 0.2% in May.
Overall, the Adelaide housing market looks to be tracking with relative stability, following a period of moderate gains through late 2019 and early 2020.
Historically, the Adelaide dwelling market has seen less volatility than larger, more expensive capital city housing markets.
This stability in asset growth, coupled with relatively strong yields, are a drawcard for the dwelling market.
However, headwings for the market include weak labour force conditions, with South Australia presenting the highest rate of seasonally adjusted unemployment in April at 7.2%.
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