Adelaide’s property market is the strongest it’s been in a decade following steady value growth and increased demand over the past few months, industry experts say.
It comes as new figures reveal the city is one of two capitals across the country to record the highest increase in its home value growth over the past month.
CoreLogic’s home value index shows the city’s median dwelling value increased 1.2 per cent in October to $455,425.
Darwin also recorded 1.2 per cent growth, while every other capital city except Melbourne posted marginal increases.
It comes after a 0.8 per cent increase in September, with only June recording a decline (0.2 per cent) since the coronavirus was declared a pandemic in March.
Harris Real Estate managing director Phil Harris said a combination of factors were creating strong competition and bumping prices up.
Low interest rates, fewer properties for sale and a cultural shift