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Australia’s hottest property market is … Adelaide

Australia's hottest property market is Adelaide

Adelaide was the only capital city where both house prices and unit prices increased during 2018, according to new data.

Domain has reported that Adelaide’s median house price rose 1.7 per cent to $538,000, while Adelaide’s median unit price climbed 0.7 per cent to $321,000 – both records for the city.

Hobart house prices jumped 8.8 per cent to a record-high $480,000 and Canberra house prices remained unchanged at $730,000 – but house prices declined in every other capital city during 2018. 

Unit prices also fell in all capital cities except Adelaide.

Median price – houses

CityMedian priceAnnual change
Sydney$1.06 million-9.9%
Melbourne$833,000-8.4%
Brisbane$566,000-0.1%
Perth$546,000-3.3%
Adelaide$538,0001.7%
Hobart$480,0008.8%
Canberra$739,0000.0%
Darwin$515,000-8.7%

Median price – units

CityMedian priceAnnual change
Sydney$702,000-5.8%
Melbourne$479,000-4.3%
Brisbane$370,000-7.9%
Perth$352,000-2.9%
Adelaide$321,0000.7%
Hobart$343,000-3.5%
Canberra$413,000-6.1%
Darwin$322,000-13.0%

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This article was reviewed by Head of Content Leigh Stark before it was published as part of RateCity's Fact Check process.

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