Adelaide prices increased 2.38% over the last year, according to the Valuer-General’s median house price data for the June 2019 quarter.
The latest figures showed a significant growth in median prices over the last 12 months, with sales rising substantially over the last quarter, according to Robin Turner, vice president of Real Estate Institute South Australia (REISA).
“It is also encouraging that the median price has remained around the record-breaking median posted last quarter. Adelaide is still a most affordable city, and these results clearly indicate that South Australia is appealing to both home buyers and investors alike,” he said.
Since the last quarter, sales across metropolitan Adelaide rose almost 10%. Sales also increased about 6% across SA, according to Turner.
In the June quarter, 4,006 houses settled across the Adelaide metropolitan area—an improvement from the previous quarter. Sales across the entire state also climbed, the figures showed.
The suburbs of Rosewater, Torrensville, and Unley experienced the largest growth during the past 12 months, with Aldgate, Brighton, and Stonyfell also rising, according to the data.
Aldinga Beach, Ingle Farm, and Morphett Vale were the top-selling suburbs in terms of sales in the June quarter, the data showed.
The overall median price in SA was unchanged from the last quarter, rising 2.38% from the same quarter a year ago, according to the figures.