What your home is worth: Valuer-General’s latest report
Search our interactive tables to see how much your home is worth, how much it has changed over the past 20 years, and how much it has earned or lost per hour over the past year.
Property
Don't miss out on the headlines from Property. Followed categories will be added to My News.
South Australian properties are bucking a national price dip, with the latest Valuer-General’s quarterly report showing values have increased by more than 2 per cent over 2022’s final quarter.
Despite Adelaide’s median house value taking a 1.65 per cent hit in the Valuer-General’s report for 2022’s third quarter, records show Adelaide home values are up 2.13 per cent over the past quarter to a $670,000 median. This represents a value growth of $14,000 over the past three months, and $69,500 or 11.57 per cent over the past year.
In contrast, Melbourne house prices dropped 2.3 per cent for the quarter, and Sydney values were down 0.54 per cent.
Statewide, home values have increased – up 3.48 per cent for the quarter to $595,000 – and up 15.53 per cent on the same quarter last year. This price growth is partly attributable to the declining volume of sales for the quarter, with agents still reporting increased demand driving prices up across the state.
Suburbs with less than ten sales for a quarter are deemed to have insufficient data to form a reliable median. The median is the midpoint of a series of sales, and as such, a data pool of less than 10 can lead to too wild a fluctuation to form an accurate median. Suburbs with 0 sales recorded for the quarter have been omitted. A suburb median is a guide as to the overall value of a suburb, and not necessarily a guarantee your home will sell for that. Please interpret all interactives with this in mind.
There were 6021 sales recorded across the state for the quarter – down from the 6487 in the previous quarter, and 7839 in 2021’s final quarter.
Real Estate Institute of South Australia chief executive officer Andrea Heading said SA’s property market had performed strongly despite eight consecutive interest rate rises.
“While the volume of sales were once again down, this is entirely attributable to the current economic climate and the substantial interest rate rises that have been happening for a few months now,” she said.
“The modest and declining scale of the decreases still clearly demonstrates that consumers are entering the market with optimism and confidence.
“We expect the volume of sales to really bounce back once the economic situation is resolved, inflation is reined in and more consumers are able to enter into a real estate transaction with certainty.” Metro Adelaide unit values fared even better – up 5.68 per cent for the quarter and 12.05 per cent over 12 months to a $465,000 median.
This table shows the number of sales for both this quarter and the same quarter for 2022. Suburbs with less than ten sales for a quarter are deemed to have insufficient data to form a reliable median. The median is the midpoint of a series of sales, and as such, a data pool of less than 10 can lead to too wild a fluctuation to form an accurate median. Suburbs with 0 sales recorded for the quarter have been omitted.
And despite Adelaide city units and apartments having regularly recorded value losses over the past few years, they were up 8.14 per cent for the quarter to a $465,000 median.
The City of Holdfast Bay was the top performing council area for the quarter, with house values up 28.21 per cent for the quarter.
Of suburbs to record at least 10 sales for both 2022 and 2021’s final quarter, Henley Beach recorded the greatest value growth, up 38.74 per cent to a $1.755m median. Belle Property Glenelg agent Jae Curtis said Henley Beach’s popularity was driving up prices in surrounding suburbs.
“Since they did the renovations to Henley Square in 2015 it’s always performed really well, and the Covid market’s helped drive that, but it’s one of the most desirable places in Adelaide to live,” he says.
“A lot of people from the eastern suburbs are now finding that the west is best, and we’re seeing a lot of money come in from there quite quickly.
“I was selling properties in Henley Beach three or four years ago for half the value that they are now.
This table shows how much homes in a suburb have increased or decreased per day, and per hour over the past 12 months. Suburbs with 0 recorded sales for both this quarter and 2022’s final quarter have been excluded. Please note: Experts deem 10 sales a minimum data pool to form a reliable median, and a reliable indicator of value growth.
“West Beach has performed really well over the past few years. Henley South, Fulham and Fulham Gardens – all are performing because they are so close to Henley Beach, and anything in the school zone for Henley High is performing very well.”
The Ghan and Indian Pacific hospitality attendant Ria Boosey, 56, is selling her home at 1 Kent St, Henley Beach.
“There’s been so little stock in the lead-up to Christmas and anything that goes on the market is snapped up,” she said.
“I’ve put a lot of blood, sweat and tears into the building and she’s presenting so beautifully now so I’m hoping not just that I’ll get a good price, but that someone that gets her will love her because she deserves it.”
MORE NEWS
Where homebuyers upped their spending in 2022
Shock jobs with the best chance of buying an SA home
Leaving school and looking to buy your first home? New research has revealed which uni and TAFE courses will get you onto the property ladder the fastest.
Revealed: Real reason behind Coast’s record property prices
The supply of new Gold Coast units on the market has plummeted, with a report warning the crunch on the property sector has worsened in the past 18-months.