Here’s what’s happening in the Adelaide property market according to Corelogic’s Decile report.
The report provides a detailed analysis at different levels of Australia’s property market by dividing the market into ten equal groups (or deciles) based on tiers of property value.
By analysing changes in dwelling values across each decile, the report identifies which parts of the market are over or under performing relative to the headline trends, summarising property market conditions nationally and across each of the capital cities.
Adelaide dwelling values fell by -0.2% over the three months to April 2018 which took values -0.4% lower than their December 2012 peak.
Over the past 12 months, Adelaide dwelling values increased by 0.8% which was the slowest annual rate of value growth since July 2013 as well as being well down on the 4.6% growth a year earlier.
The highest valued housing stock, along with those sitting in the 6th decile, have recorded the greatest value falls over the past three months.
Values have also declined over the quarter within the 9th decile.
The most affordable housing stock in Adelaide has recorded the greatest value rise over the past three months.
The expensive 10% of properties in Adelaide was the only broad market segment in which values fell over the past 12 months.
The greatest increases in values occurred across the 7th and 8th deciles.
Interestingly, with quarterly data showing falls across the 9th and 10th deciles, the 7th and 8th deciles may soon be seeing falls as quarterly growth has slowed markedly.
Quarterly data indicated that values are broadly falling for properties with values between $435,042 and $481,597 and above $610,337 while growth is strongest under $267,473.
Over the past year, housing valued below $610,377 has typically recorded growth with the strongest gains occurring for properties valued between $481,597 and $534,350.
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