Adelaide House Prices Increases 22% in Five Years
The median house price in metropolitan Adelaide is now $382,500 – an increase of just over 22% in the last five years. The median unit price is now $315,000.
Figures from RP Data showed that, in a national context, this positioned Adelaide behind only Darwin and Melbourne.
Categorised by suburb and type of dwelling (unit or house), there were 342 median house price increases and just 23 decreases. Of the price increases, thirteen increased by 50% or more.
The most impressive results were seen in Munno Para – a lower socioeconomic area in the northern suburbs and a fundamental part of the Playford Alive development. In Munno Para, the median price increased to $305,000 – a rise of 67%. Units in New Port, part of the New Port Quays development, were the worst performers. These units achieved a price decrease of 38.6%, reducing their median price to $350,000.
Greg Moulton, President of the Real Estate Institute of South Australia believed that any area that had been experiencing decreases over the past five years would soon see improvement.