Adelaide house prices rose for the eighth consecutive quarter, climbing by almost $25,000 (2.5%) over the December quarter to reach a new record of $992,193. However, the pace of quarterly growth has slowed to about one-third of its rate in the previous quarter and is roughly half compared to the same time the year prior. Despite slowing growth, Adelaide is on track to surpass $1 million over the first quarter of 2025, needing just $7,807 (0.8%) to achieve this milestone. Annual gains have also slowed, yet remain strong at 14.6% ($126,000), positioning Adelaide houses as the second-best-performing market in 2024, behind only Perth.
Adelaide unit prices have risen marginally over the December quarter by just over $3,000 (0.6%), setting a new record of $541,573. Growth has significantly lost momentum, with the quarterly rate falling to about one-seventh of the pace of the previous quarter and the same quarter the year prior. This marks the weakest quarterly outcome since March 2023. Annual gains have also eased to their lowest level in a year, yet remain strong at 13.6% ($65,000), making Adelaide the third-best-performing unit market in 2024, behind only Perth and Brisbane.
The Reserve Bank of Australia has kept interest rates on hold today, maintaining its cautious approach. This decision reflects growing uncertainties in the global economy, particularly stemming from US trade policies and ongoing geopolitical tensions. The Australian economy continues to show unexpected resilience, with unemployment remaining relatively low and consumer … Read more
Federal Treasurer Jim Chalmers handed down his fourth federal budget. This year the budget is in a deficit, meaning it will spend more than it earns, with the government saying it was designed to help Australians with the cost of living. We have broken down some of the key takeaways … Read more