Adelaide home values dip most of any capitals in new data

Adelaide has suffered the biggest median home value drop of any capital city over the past month, new data shows, with values down for the third consecutive month. According to realestate.com.au’s September Home Price Index, Adelaide’s median home value dropped 0.9 per cent or $7000 last month – and is down 1.6 per cent from its peak in May. Adelaide’s median combined dwelling value – that of both houses and units – currently sits at $928,000, and is down from $935,000 last month. Houses also took a hit – down 0.9 per cent or $6000 for the month from a $1.011m median to $1.005m. Adelaide unit prices followed suit, dropping 0.6 per cent or $13,000 for the month from a $700,000 median to $687,000. Despite this, values are still up over the past 12 months, with Adelaide’s combined dwelling price sitting 8 per cent or $75,000 higher than this time last year, its median house price 7.8 per cent higher or $80,000 more than last year, and its unit price 8.8 per cent or $45,000 higher than last August. Adelaide’s median home values have dropped for the third consecutive month. Picture: Brenton Edwards Report author, realestate.com.au senior economist Eleanor Creagh said national home price...