Adelaide topped the capital city growth tables in April with housing values rising by 1.9% in the month, adding approximately $11,5000 to the value of the typical dwelling.
Adelaide home buyers continue to face significant stock shortages, with advertised listings remaining more than 40% below the five-year average.
At the same time, our estimate of home sales over the past three months was tracking 40% above the five-year average.
It’s this disconnect between available supply and housing demand that is continuing to drive up prices and will probably insulate Adelaide’s housing market from lower prices, at least while supply is being outweighed by demand.
The strong selling conditions are also evident in consistently high auction clearance rates which have remained around the 80% mark through April.
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]
/GettyImages-980814892-cbb876a6ea04400781be4383be9cbe02.jpg)
