Adelaide is Australia's Busiest Capital City Market
Australia continues to under-rate the Adelaide property market, however it is one of Australia’s most consistent markets, a status it has maintained over the past 12 months. It also remains the busiest market in capital city Australia and one that is forecast by several analysts to be a national leader on price growth.
In the past six quarterly surveys of sales activity conducted by Hotspotting, the number of growth suburbs has been 46, 45, 58, 61, 71 and 60, showing that the market has plateau-ed recently but remains elevated compared to 12-18 months ago.
SA, dominated by Adelaide, has impressed with its steady performance in the past five years. Each of the past 20 quarters has recorded between 8,000 and 9,500 dwelling sales. Adelaide had recorded between 45 and 71 growth suburbs in 15 of the past 16 quarterly surveys and in our Summer 2019 survey it has 60 – the third highest of the past four years.
It continues to rank well ahead of Sydney, Melbourne and Brisbane, as well as the recovering Perth market, in terms of the number of growth suburbs.
And while sources such as CoreLogic and SQM Research report annual growth of only 1-2% in Adelaide house prices, these generalised figures disguise individual areas which have done better.
It’s noteworthy that many of the millionaire suburbs have recorded big growth in their median prices in past 12 months. Uplift in the premium market is often an early signal of a market upcycle. However the growth is not all confined to the top end: there are suburbs with growth above 10% spread across all price ranges, and this growth is not confined to houses - unit prices have also grown in selected areas, with some suburbs showing growth above 20% for apartments.
Adelaide has a broad geographical spread of LGAs with good numbers of growth markets. There are seven municipalities which have five or more suburbs with rising sales trajectories leading to price growth. This means there is growth momentum right across the metropolitan area.
Get all the data in our latest Top 5 Adelaide Hoptspots 2019 report.
Adelaide was Hotspot of the Week on May 7th 2019