Adelaide's property market has reached a new record, with the median house price passing $900,000 for the first time.
Adelaide's property market has reached a new record, with the median house price passing $900,000 for the first time.
While some suburbs in the northern parts of the city are offering homebuyers more affordable options with a median price of around $400,000, those areas are also experiencing rapid price increases. The price rises have added to the challenges for those trying to enter the property market, many are already struggling with high rents due to stubbornly low rental vacancy rates.Adelaide's property market has reached a new record, with the median house price passing $900,000 for the first time.
"It's very much a landlord's market and that continues to place pressure on asking rents," Domain's Nicola Powell said.Woodville West has witnessed the most significant drop in the median house price, with a decline of almost 9 per cent, followed by Kilburn.Sydney suburbs where housing prices don't drop below $3.9 millionThe South Australian government has said the solution for surging rents and property prices is increasing supply.
"We've got to build apartments build houses until prices moderate," Housing Minister Nick Champion said.
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