Adelaide was one of the few capital city housing markets where the pace of capital gains accelerated in April, rising from 1.5% in March to 2.0% in April.
April marked the fastest pace of monthly appreciation since December 2007, just prior to the GFC-induced downturn.
Like every other capital city, Adelaide’s unit market has underperformed through the upswing.
Unit values are 4.8% higher over the past year while house values have risen at more the double the rate, up 11.1%.
Estimated sales volumes were tracking 36% above the five-year average in April, while advertised listings were about 30% below the five-year average.
With demand strong and advertised supply levels so low, it’s likely we will continue to see housing values rise across the Adelaide housing market.
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