$74,500 more than last year – Adelaide home prices surge

South Australia’s property sector continues to kick goals, with metro home values up on the previous month and recording the fourth best growth of any capital city, a new report shows.

According to PropTrack’s September Home Price Index report, South Australian regional properties recorded the highest growth in the nation over the past year, with combined regional dwelling – both house and unit – prices up 12.3 per cent over the past year, and metropolitan dwelling prices up 8.6 per cent over the past year.

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Adelaide’s median value now sits $71,900 higher than this time last year at $862,000, while regional SA’s median dwelling price sits at $470,000 – some $52,000 higher than last year.

REA Group senior economist and report author Eleanor Creagh, said the housing market remains on a firm upward trajectory this spring selling season.

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“National home prices rose 0.5 per cent in September, extending the upswing to a ninth straight month and lifting values 6.2 per cent higher than a year ago,” she said.

“The combination of increased borrowing capacities and lower borrowing costs, stronger buyer

confidence and renewed competition is underpinning a broad uplift, while momentum is shifting.

REA Group senior economist Eleanor Creagh

“Although national growth has accelerated in 2025, it remains below long-run average with stretched affordability leaving limited room for prices to surge at the 20-30 per cent pace of previous booms.”

Adelaide’s house price remains at its record high – up 0.58 per cent for the month and 8.43 per cent for the year to $933,000 – while metropolitan units have increased 0.32 per cent over the past month and 9.54 per cent over the past 12 months to $645,000.

That’s an increase of $74,500 for houses and $54,600 for units.

Regionally, the median house price sits at $478,000, and the median unit price $428,000.

Over the past five years, metropolitan Adelaide’s combined dwelling price has increased by 88.56 per cent, while regional homes have increased by 95.69 per cent.

Ms Creagh said this year’s series of interest rate cuts, improved sentiment and the October expansion of the Home Guarantee Scheme will add support.

Adelaide home values are up. Picture: Supplied by Knight Frank

“With stock on market constrained and new supply challenged, demand-side stimulus will intensify competition,” she said.

“The housing market is poised for further gains throughout spring, though the pace will vary across cities as momentum shifts.”

Price gains aren’t good for everyone though, with a rising market meaning buyers are having to pay more to secure their dream home, and first home buyers needing a larger deposit to get into the market.

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According to the report, home values in the state’s South East area have increased over the past 12 months by 12.69 per cent to a $527,000 median, while dwellings in the state’s Barossa – Yorke – Mid North region have increased 11.95 per cent to a median of $475,000.

Finder’s head of consumer research Graham Cooke. Picture: Supplied

Graham Cooke, head of consumer research at Finder, said many homeowners were still doing it tough.

“While relief is starting to filter through, 35 per cent of homeowners are still struggling to pay their mortgage in September,” he said.

“Even with another cut expected before Christmas, you don’t need to wait to get a better deal.

“If you’re currently paying more than 5.5 per cent for a variable rate, you’re probably paying too much.”

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