This week's Adelaide property market update will analyse four crucial data points to offer an overview of its performance in the past 12 months, in comparison to the national average.
Weekly Asking Prices
Property type | Price ($) | Annual % change |
All Houses | 962,455 | 20.3% |
All Units | 465,043 | 7.6% |
Combined | 873,131 | 19.0% |
National | 868,456 | 8.6% |
Source: SQM Research
Adelaide outperformed the national average, with asking house prices rising by 20.3%, unit prices increasing by 7.6%, and the combined property market growing by 19.0%. Nationally, property prices experienced a slower annual growth rate of 8.6%.
Rental Market
Property type | Price ($) | Annual % change |
All Houses | $657 | 11.1% |
All Units | $506 | 14.8% |
Combined | $605 | 12.3% |
National | $632 | 6.5% |
Source: SQM Research
Adelaide outperformed the national rental market, with house asking rents increasing by 11.1%, unit rents rising by 14.8%, and the combined rental market growing by 12.3%. Nationally, rental prices saw a slower annual growth rate of 6.5%.
Vacancy Rates
City | Sep 2023 Vacancies | Sep 2023 Vacancy Rate | Sep 2024 Vacancies | Sep 2024 Vacancy Rate |
Adelaide | 819 | 0.5% | 1,002 | 0.6% |
National | 32,660 | 1.1% | 37,932 | 1.2% |
Source: SQM Research
Adelaide vacancies rose from 819 to 1,002, with the vacancy rate increasing from 0.5% to 0.6%. Nationally, the number of vacancies grew from 32,660 to 37,932, and the vacancy rate edged up from 1.1% to 1.2%.
Property Listings
City | Sept 2024 Total | Monthly change | Yearly Change % |
Adelaide | 7,711 | -5.8% | -22.8% |
National | 243,739 | -2.3% | -0.7% |
Source: SQM Research
Adelaide saw a total of 7,711 listings, reflecting a monthly decrease of 5.8% and a sharp annual drop of 22.8%. Nationally, total listings reached 243,739, with a 2.3% monthly decline and a modest yearly decrease of 0.7%.
If you would like to know more about how we can help you build a property portfolio give us a call on 0423 344 286 or email us at hello@mindsetproperty.com.au, or simply connect with our Director Peter Theodorou.
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Note: This is general advice and does not take into consideration your objectives, situations or needs. Please consider if this advice is suitable for you and your circumstances and speak to a professional before making any financial decisions.
Komen