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Adelaide Housing Market Update [Video] – August 2016

Adelaide values have increased by four-point-seven percent of the first seven months of the year and therefore eight percent higher over the past 12 months despite local economic uncertainty.

Growth in values is picked up over recent months and house values have increased by five percent over the past year compared to a much lower two-point-six percent growth rate.

Across the unit sector transaction numbers are also looking reasonably resilient across Adelaide with dwelling sales only two-point-seven percent lower.

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Adelaide is one of the two capital cities where dwellings are selling faster than a year ago, currently averaging 52 days to sell a property. adelaide

The faster rate of sales comes with a high discounting rabo suggesting Adelaidevendors need to and have been more flexible with their pricing expectations in order to achieve sales.

Hobart, where the growth trend has recently accelerated, has been the next best performer with values rising 17.6 per cent over the growth cycle followed by Adelaide (14.3 per cent).

You may also be interested in reading:

Brisbane Housing Market Update [Video] – August 2016

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About

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


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