Your Real Estate Market Insight / Yearly Market Report Dec 2024

According to CoreLogic’s latest report, national home values increased by 0.1% in November 2024, extending the growth streak for a 22nd consecutive month.

While Sydney and Melbourne experienced some softening, Adelaide and key regional markets remained resilient, helping to stabilise national performance. Rising listings and moderating sales signal ongoing challenges, though limited housing supply and steady demand offer a positive long-term outlook.

Despite high interest rates and rising living costs, Adelaide’s housing market has shown remarkable resilience. Housing values increased 0.8% in November and 2.8% over the past quarter, maintaining steady growth even as national momentum eases.

Unit values outperformed houses, with annual growth of 18.0% compared to 13.4% for houses, reflecting strong demand in affordable segments. While listings rose 25% since winter, Adelaide’s advertised stock remains well below historical averages, fostering a competitive market environment.

Looking ahead, Adelaide’s housing market is well-positioned to navigate potential economic challenges, supported by affordable property prices, a strong local economy, and robust demand from homebuyers and investors alike.

At Ouwens Casserly, 2024 has been a landmark year, highlighted by winning the REISA 2024 Residential Agency of the Year, strategic acquisitions, and the successful launch of OC Mitcham and OC South Coast. With a client-first approach and a culture where people thrive, OC continues to set new benchmarks for the industry.

As we wrap up the year and look forward to a promising 2025, we hope you enjoy our Yearly Market Report. If you have any questions or need any advice for buying, selling, investing, managing, renting or developing please contact the team here. We are here to help achieve your property goals.

Disclaimer: Information in this blog is accurate at the time of publication. Ouwens Casserly has relied upon information from external sources in compiling this publication and does not warrant its accuracy or completeness. Please verify details and consult your agent before making any decisions.