Short, sharp, stats & updates on what’s happening in Adelaide’s residential sales market for September 2023.
According to the latest PropTrack report, the National Home Value Index has been on a remarkable upward trajectory, posting a 0.28% increase in August.
Adelaide is currently basking in the Spring Selling Season, with its real estate market garnering significant attention. According to CoreLogic, Adelaide’s housing values surged by 1.1% this month, reaching a new record high. Over the past five years, Adelaide’s home values have experienced a remarkable growth of 49%, marking the largest increase among all capital cities.
A key driver behind these gains is the persistently low advertised supply levels in Adelaide. Furthermore, Adelaide currently boasts the lowest vacancy rate of any capital city, standing at just 0.4%. These tight rental conditions are likely motivating more individuals to consider homeownership amid the ongoing rental crisis.
In the realm of monetary policy, the RBA board decided to maintain the interest rate at a steady 4.1% for the third consecutive time in September, although the minutes of the meeting indicated discussions about a potential rate increase.
If you are looking to buy, sell, lease or have your property managed this spring, reach out to one of our specialist property consultants here within the OC team.
