Hot property? SA home prices fall for first time this year
Homes in Adelaide remain some of the dearest in Australia, but some reprieve for buyers came in June.
The median price of a home in Adelaide fell for the first time this year, but houses still cost more in the SA capital than they do in all major cities bar Melbourne, Sydney and Perth.
New PropTrack data, released today, found the median value of a home in Adelaide was $942,000 in June – down 0.2 per cent from May.
This was broadly in line with the national value of homes, down 0.3 per cent in June. However, the price of a home remained 5.8 per cent higher in Australia than they one year ago.
Meanwhile, the price of a home in regional South Australia was at its peak – up 0.3 per cent from May and at a median value of $522,000.
And in Adelaide, home prices were 11.9 per cent higher than they were this time last year, PropTrack senior economist Anne Flaherty saying decisions from Canberra might have softened the month-on-month price change.
“Home prices softened across every capital city in June, bar Darwin, as higher interest rates and cost of living pressures continue to weigh on purchasing power,” Flaherty said.
“The Budget may have also contributed to more cautious decision-making among both owner-occupying buyers and investors.”
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Flaherty said affordability would remain a “key driver of market performance” moving forward, “with the share of buyers looking to purchase in more affordable areas, such as regional markets, expected to increase,” she said.
“As yet, the full impact of the Budget on investor demand remains to be seen.
“Overall, conditions appear to have improved for first-home buyers, who will benefit from lower home prices and less investor competition in 2026.”
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