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By Tim Lawless
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Adelaide housing market update [video] | May 2024

Australian home values moved through a 15th straight month of growth in April with CoreLogic's national home value index rising by 0.1%, on par with the pace of gains recorded in February and March.

Adelaide home values increased by 1.3% in April, a subtle slowdown relative to March when the monthly growth rate was 1.4%.

Adelaide Housing Market Update | May 2024

The unit sector has led the pace of capital gains over the past year with values up 14.5% in twelve months compared with a 13.9% increase in house values.

Similarly, lower quartile home values have risen at double the pace of the upper quartile over the year to date, up 6.2% and 3.1% respectively.

Adelaide house prices graph

Adelaide Dwelling Values April 2024

With housing affordability becoming more challenging, it's likely more demand is being deflected to lower-priced areas including the northern suburbs and the outer south, as well as the unit sector where the median value is almost $290,000 lower than the median house value.

Adelaide Housing Market Update April 2024

Regional markets have shown slightly stronger quarterly growth over the past five months than their capital city counterparts following a ten-month period where the combined capitals index was outperforming.

Looking at value movements over the past 3 months, the strongest regional markets were aligned with the strongest capital cities.

Home sales look to have moved through a cyclical peak in November last year.

Nationally, rents were up 0.8% in April, a slight slowdown in the rate of growth relative to February and March when the national rental index rose by 0.8% and 1% respectively.

You may also want to read:

National Housing Market Update [Video] 

Perth Housing Market Update [Video]

Sydney Housing Market Update [Video]

Brisbane Housing Market Update [Video]

Melbourne Housing Market Update [Video]

About Tim Lawless Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au
6 comments

I was thinking of selling my older property I bought in 2019 for a new cheaper appartment in a nice location closer to work and using the sales differences to prepare for the future 2 or 3 years. I wonder if this makes sense but in some ways I would ...Read full version

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Invest in real estate for your child's future

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