After decades of slow and steady value growth, South Australian homes have finally had their moment in the sun, experiencing record increases over the past five years.
But what would the real estate landscape look like if that growth was repeated over the next five years?
PropTrack have crunched the numbers and, to be honest, they’re pretty frightening.
According to the figures, which PropTrack say are not a forecast but simply a forward application of the percentage change since April 2019, if the past five year’s growth – 56 per cent – is repeated, Adelaide’s median house price in 2029 would be more than $1.143m.
The median house value has climbed from $470,000 to $733,000 between April 2019 and April this year.
SCROLL DOWN TO SEE HOW MUCH YOUR HOME COULD BE WORTH IN 2029
If history repeats, Adelaide’s median unit price would be tipped to skyrocket too.
In 2019 it was sitting at $350,000 and now it’s $485,000, an increase of 39 per cent.
Casting that growth forward, units could be worth $672,071 – more than median-priced houses were worth five years ago.
Houses in regional SA – which have climbed 51 per cent from a $271,750 median to $410,000 over the past five years – would be worth $618,583 if this growth is repeated.
Regional unit prices could also soar and be worth $490,122 if they mirror the growth seen over the past five years where their median went from just $271,750 to their current $410,000.
PropTrack senior economist Paul Ryan said the data showed the “huge lift” in property values during a tumultuous time in the world (Covid) and interest rates at “emergency low” levels.
“We’ve looked at current median prices across all suburbs and then extrapolated forward what prices would look like if we saw the same experience over the past five years,” Mr Ryan said. “These are not forecasts, but it’s a good thought exercise in understanding why what we’ve seen over the past five years was so exceptional.”
Looking at median combined dwelling prices – which includes both houses and units – Elizabeth North in Adelaide’s north could be tipped for the greatest increase if history repeats.
The median dwelling price in the suburb has increased by 131 per cent – from $175,000 to $405,000 over the past five years.
If that growth continues on the same trajectory that median price would increase to a staggering $937,000 in 2029.
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Neighbouring Elizabeth Downs and Elizabeth South were set for the next largest growth of 125 per cent and 120 per cent, taking their medians to $911,000 and $857,000 respectively.
According to the projection, there would be 191 suburbs in Adelaide with a median of more than $1m or more.
Edge Realty principal Mike Lao, who sells in Adelaide’s northern suburbs, said the growth over the past five years had been “crazy”.
“It has been the biggest boom in 30 years, which has been great, but it has settled down a bit now,” he said.
“We were underpriced and such good value, and the secret is out now.”
“Nobody would have predicted a boom like this, and I think the growth will continue, but at a more measured rate.”
Factory worker Christine Romano, 56, bought in Elizabeth North in 2021 after renting in Davoren Park.
“I’d been renting for about 15 years and my mum said: “I’m sick of you spending your money on rent, I want you to buy a house,” she said.
“I’m glad I bought when I did – it’s an asset and I’d love to see it increase in value.”
Mr Ryan said Adelaide’s affordable north had been a star performer over the past five years.
“You can clearly see the push towards affordability has really benefited Adelaide, Perth and Brisbane,” he said.
“During the pandemic, people realised how cheap Adelaide was for the lifestyle you receive. “There’s still a lot to play out in the relative affordability of Adelaide.
“It’s up 14 per cent over the past year.”
WHAT YOUR HOME COULD BE WORTH IN 2029
SUBURB | 2024 MEDIAN | 2019 MEDIAN | % CHANGE | 2029 MEDIAN |
Elizabeth North | $405,000 | $175,000 | 131% | $937,000 |
Elizabeth Downs | $405,000 | $180,000 | 125% | $911,000 |
Elizabeth South | $390,000 | $178,000 | 120% | $857,000 |
Sellicks Beach | $708,000 | $330,000 | 114% | $1,517,000 |
Elizabeth Park | $430,000 | $202,000 | 113% | $915,000 |
Elizabeth East | $450,000 | $213,000 | 112% | $953,000 |
Hackham West | $508,000 | $245,000 | 107% | $1,053,000 |
Whyalla Stuart | $205,000 | $100,000 | 105% | $420,000 |
Para Hills West | $597,000 | $293,000 | 104% | $1,218,000 |
Smithfield Plains | $425,000 | $210,000 | 102% | $860,000 |
Willunga | $895,000 | $455,000 | 97% | $1,762,000 |
Smithfield | $450,000 | $230,000 | 96% | $880,000 |
Christie Downs | $516,000 | $266,000 | 94% | $1,002,000 |
Brahma Lodge | $533,000 | $275,000 | 94% | $1,031,000 |
Beaumont | $1,711,000 | $885,000 | 93% | $3,307,000 |
O’Halloran Hill | $715,000 | $370,000 | 93% | $1,382,000 |
Elizabeth Vale | $450,000 | $234,000 | 93% | $867,000 |
Huntfield Heights | $545,000 | $284,000 | 92% | $1,048,000 |
Aldinga Beach | $660,000 | $345,000 | 91% | $1,263,000 |
Kingswood | $1,350,000 | $706,000 | 91% | $2,581,000 |
Elizabeth Grove | $386,000 | $203,000 | 90% | $734,000 |
Noarlunga Downs | $625,000 | $335,000 | 87% | $1,166,000 |
Goolwa Beach | $586,000 | $315,000 | 86% | $1,090,000 |
Munno Para | $465,000 | $250,000 | 86% | $865,000 |
Salisbury North | $460,000 | $248,000 | 86% | $855,000 |
Goolwa South | $620,000 | $334,000 | 86% | $1,151,000 |
Murray Bridge | $415,000 | $225,000 | 84% | $765,000 |
Munno Para West | $505,000 | $274,000 | 84% | $931,000 |
Salisbury East | $560,000 | $305,000 | 84% | $1,028,000 |
Loxton | $344,000 | $188,000 | 83% | $629,000 |
Morphett Vale | $558,000 | $305,000 | 83% | $1,019,000 |
Millicent | $305,000 | $167,000 | 83% | $557,000 |
Hackham | $519,000 | $285,000 | 82% | $943,000 |
Reynella | $582,000 | $321,000 | 82% | $1,057,000 |
Lewiston | $780,000 | $430,000 | 81% | $1,415,000 |
Ingle Farm | $610,000 | $337,000 | 81% | $1,106,000 |
Port Noarlunga South | $718,000 | $396,000 | 81% | $1,300,000 |
Woodville | $645,000 | $358,000 | 80% | $1,164,000 |
Pennington | $692,000 | $385,000 | 80% | $1,244,000 |
Moana | $765,000 | $427,000 | 79% | $1,372,000 |
Marino | $1,245,000 | $695,000 | 79% | $2,230,000 |
Para Hills | $600,000 | $335,000 | 79% | $1,075,000 |
St Marys | $760,000 | $425,000 | 79% | $1,359,000 |
Andrews Farm | $490,000 | $275,000 | 78% | $873,000 |
Happy Valley | $705,000 | $396,000 | 78% | $1,255,000 |
Modbury Heights | $709,000 | $399,000 | 78% | $1,262,000 |
Parafield Gardens | $605,000 | $340,000 | 78% | $1,077,000 |
Para Vista | $640,000 | $360,000 | 78% | $1,138,000 |
Willaston | $510,000 | $288,000 | 77% | $905,000 |
Old Reynella | $620,000 | $350,000 | 77% | $1,098,000 |
Victor Harbor | $595,000 | $336,000 | 77% | $1,052,000 |
Paralowie | $549,000 | $310,000 | 77% | $970,000 |
Goodwood | $1,275,000 | $722,000 | 77% | $2,252,000 |
Encounter Bay | $635,000 | $360,000 | 76% | $1,120,000 |
Woodcroft | $690,000 | $392,000 | 76% | $1,215,000 |
Seaford | $650,000 | $370,000 | 76% | $1,142,000 |
Birkenhead | $720,000 | $410,000 | 76% | $1,264,000 |
Torrens Park | $1,275,000 | $728,000 | 75% | $2,235,000 |
Whyalla Norrie | $210,000 | $120,000 | 75% | $368,000 |
Tanunda | $595,000 | $340,000 | 75% | $1,041,000 |
Port Pirie West | $175,000 | $100,000 | 75% | $306,000 |
Mannum | $418,000 | $239,000 | 75% | $729,000 |
Redwood Park | $690,000 | $395,000 | 75% | $1,204,000 |
Holden Hill | $693,000 | $398,000 | 74% | $1,209,000 |
Felixstow | $935,000 | $540,000 | 73% | $1,619,000 |
Hayborough | $580,000 | $336,000 | 73% | $1,001,000 |
Woodside | $695,000 | $404,000 | 72% | $1,196,000 |
Hillbank | $625,000 | $364,000 | 72% | $1,075,000 |
Queenstown | $645,000 | $376,000 | 72% | $1,106,000 |
Goolwa | $513,000 | $299,000 | 71% | $878,000 |
Barmera | $296,000 | $174,000 | 71% | $505,000 |
Whyalla Playford | $290,000 | $170,000 | 71% | $495,000 |
Bordertown | $268,000 | $157,000 | 70% | $456,000 |
Hove | $975,000 | $574,000 | 70% | $1,657,000 |
Hindmarsh Island | $730,000 | $430,000 | 70% | $1,239,000 |
Kapunda | $445,000 | $263,000 | 70% | $754,000 |
Kidman Park | $953,000 | $562,000 | 69% | $1,613,000 |
Malvern | $1,820,000 | $1,075,000 | 69% | $3,081,000 |
Ferryden Park | $712,000 | $421,000 | 69% | $1,204,000 |
Port Willunga | $689,000 | $408,000 | 69% | $1,163,000 |
Seacliff Park | $828,000 | $490,000 | 69% | $1,397,000 |
Seaview Downs | $843,000 | $499,000 | 69% | $1,422,000 |
McCracken | $650,000 | $385,000 | 69% | $1,097,000 |
Taperoo | $633,000 | $375,000 | 69% | $1,067,000 |
Aberfoyle Park | $708,000 | $420,000 | 68% | $1,192,000 |
Seaford Rise | $682,000 | $405,000 | 68% | $1,148,000 |
Modbury North | $648,000 | $385,000 | 68% | $1,090,000 |
McLaren Vale | $740,000 | $440,000 | 68% | $1,245,000 |
Salisbury | $471,000 | $280,000 | 68% | $791,000 |
Northfield | $719,000 | $428,000 | 68% | $1,208,000 |
Hope Valley | $655,000 | $390,000 | 68% | $1,100,000 |
Burton | $563,000 | $335,000 | 68% | $944,000 |
West Beach | $1,150,000 | $685,000 | 68% | $1,931,000 |
Coromandel Valley | $856,000 | $510,000 | 68% | $1,437,000 |
Ottoway | $600,000 | $358,000 | 68% | $1,007,000 |
Valley View | $672,000 | $401,000 | 68% | $1,126,000 |
Seaford Meadows | $645,000 | $385,000 | 68% | $1,081,000 |
Moonta Bay | $475,000 | $284,000 | 67% | $794,000 |
Port Noarlunga | $700,000 | $419,000 | 67% | $1,170,000 |
Strathalbyn | $585,000 | $350,000 | 67% | $978,000 |
Pooraka | $610,000 | $365,000 | 67% | $1,019,000 |
Windsor Gardens | $743,000 | $445,000 | 67% | $1,239,000 |
West Lakes Shore | $980,000 | $588,000 | 67% | $1,635,000 |
Fulham | $1,226,000 | $735,000 | 67% | $2,045,000 |
Craigmore | $520,000 | $312,000 | 67% | $867,000 |
Greenacres | $750,000 | $450,000 | 67% | $1,250,000 |
Ridgehaven | $625,000 | $375,000 | 67% | $1,042,000 |
Salisbury Heights | $645,000 | $388,000 | 66% | $1,074,000 |
Rosewater | $613,000 | $368,000 | 66% | $1,019,000 |
Salisbury Downs | $530,000 | $319,000 | 66% | $882,000 |
Clarence Park | $990,000 | $595,000 | 66% | $1,647,000 |
Northgate | $890,000 | $536,000 | 66% | $1,479,000 |
Mount Gambier | $415,000 | $250,000 | 66% | $689,000 |
Hallett Cove | $771,000 | $465,000 | 66% | $1,278,000 |
Linden Park | $1,347,000 | $813,000 | 66% | $2,231,000 |
Stirling | $1,209,000 | $730,000 | 66% | $2,001,000 |
Tranmere | $991,000 | $600,000 | 65% | $1,637,000 |
Kurralta Park | $693,000 | $420,000 | 65% | $1,143,000 |
Wallaroo | $395,000 | $240,000 | 65% | $651,000 |
Eden Hills | $907,000 | $550,000 | 65% | $1,496,000 |
Clovelly Park | $780,000 | $473,000 | 65% | $1,286,000 |
Christies Beach | $600,000 | $365,000 | 64% | $986,000 |
Marden | $590,000 | $359,000 | 64% | $970,000 |
Port Pirie South | $304,000 | $185,000 | 64% | $500,000 |
Angaston | $550,000 | $335,000 | 64% | $903,000 |
Berri | $320,000 | $195,000 | 64% | $525,000 |
Findon | $745,000 | $454,000 | 64% | $1,223,000 |
Hahndorf | $950,000 | $580,000 | 64% | $1,556,000 |
Modbury | $630,000 | $385,000 | 64% | $1,031,000 |
Evanston | $450,000 | $275,000 | 64% | $736,000 |
Torrensville | $880,000 | $539,000 | 63% | $1,437,000 |
Dover Gardens | $760,000 | $466,000 | 63% | $1,239,000 |
Trott Park | $660,000 | $405,000 | 63% | $1,074,000 |
Grange | $1,140,000 | $700,000 | 63% | $1,856,000 |
Banksia Park | $651,000 | $400,000 | 63% | $1,059,000 |
Clarence Gardens | $981,000 | $604,000 | 62% | $1,593,000 |
Lockleys | $1,045,000 | $645,000 | 62% | $1,693,000 |
Craigburn Farm | $1,207,000 | $745,000 | 62% | $1,956,000 |
Gilles Plains | $685,000 | $423,000 | 62% | $1,109,000 |
Nuriootpa | $540,000 | $334,000 | 62% | $874,000 |
Hillcrest | $718,000 | $444,000 | 62% | $1,160,000 |
Brighton | $961,000 | $595,000 | 62% | $1,552,000 |
Largs North | $710,000 | $440,000 | 61% | $1,146,000 |
Flagstaff Hill | $847,000 | $526,000 | 61% | $1,364,000 |
Croydon Park | $758,000 | $471,000 | 61% | $1,220,000 |
Bridgewater | $853,000 | $530,000 | 61% | $1,374,000 |
Kadina | $370,000 | $230,000 | 61% | $595,000 |
Evanston Park | $535,000 | $333,000 | 61% | $860,000 |
Wayville | $858,000 | $534,000 | 61% | $1,379,000 |
Seaton | $755,000 | $470,000 | 61% | $1,213,000 |
Bellevue Heights | $850,000 | $529,000 | 61% | $1,365,000 |
Henley Beach | $1,226,000 | $764,000 | 61% | $1,968,000 |
Wynn Vale | $680,000 | $425,000 | 60% | $1,088,000 |
Woodville South | $809,000 | $507,000 | 60% | $1,291,000 |
Lightsview | $621,000 | $389,000 | 59% | $989,000 |
Hawthorndene | $833,000 | $524,000 | 59% | $1,325,000 |
Oaklands Park | $695,000 | $438,000 | 59% | $1,104,000 |
Mount Barker | $627,000 | $395,000 | 59% | $994,000 |
West Croydon | $885,000 | $558,000 | 58% | $1,403,000 |
Enfield | $681,000 | $430,000 | 58% | $1,078,000 |
Hazelwood Park | $1,265,000 | $800,000 | 58% | $2,000,000 |
Surrey Downs | $603,000 | $381,000 | 58% | $952,000 |
Royal Park | $641,000 | $406,000 | 58% | $1,011,000 |
Normanville | $631,000 | $400,000 | 58% | $995,000 |
Somerton Park | $1,250,000 | $794,000 | 57% | $1,969,000 |
Woodville North | $610,000 | $389,000 | 57% | $957,000 |
Sheidow Park | $718,000 | $459,000 | 57% | $1,124,000 |
Dernancourt | $759,000 | $485,000 | 56% | $1,188,000 |
Blakeview | $524,000 | $335,000 | 56% | $818,000 |
Renmark | $355,000 | $228,000 | 56% | $554,000 |
Oakden | $704,000 | $452,000 | 56% | $1,096,000 |
Greenwith | $705,000 | $453,000 | 56% | $1,098,000 |
Hewett | $701,000 | $450,000 | 56% | $1,092,000 |
South Plympton | $810,000 | $520,000 | 56% | $1,262,000 |
Sturt | $713,000 | $458,000 | 56% | $1,110,000 |
Clearview | $685,000 | $440,000 | 56% | $1,066,000 |
Seacombe Gardens | $715,000 | $460,000 | 55% | $1,111,000 |
Mansfield Park | $610,000 | $393,000 | 55% | $948,000 |
Belair | $1,020,000 | $657,000 | 55% | $1,584,000 |
Middleton | $815,000 | $525,000 | 55% | $1,265,000 |
Fulham Gardens | $960,000 | $619,000 | 55% | $1,489,000 |
Gawler East | $578,000 | $373,000 | 55% | $895,000 |
Gulfview Heights | $730,000 | $471,000 | 55% | $1,131,000 |
Aldgate | $1,285,000 | $830,000 | 55% | $1,989,000 |
Newton | $755,000 | $488,000 | 55% | $1,168,000 |
Plympton Park | $850,000 | $550,000 | 55% | $1,314,000 |
North Haven | $740,000 | $480,000 | 54% | $1,141,000 |
Semaphore | $844,000 | $548,000 | 54% | $1,300,000 |
Beulah Park | $1,250,000 | $812,000 | 54% | $1,924,000 |
Highbury | $815,000 | $530,000 | 54% | $1,254,000 |
Blackwood | $800,000 | $520,000 | 54% | $1,231,000 |
Fairview Park | $650,000 | $423,000 | 54% | $999,000 |
Park Holme | $776,000 | $505,000 | 54% | $1,192,000 |
St Peters | $1,715,000 | $1,119,000 | 53% | $2,630,000 |
Ascot Park | $636,000 | $415,000 | 53% | $975,000 |
Athelstone | $795,000 | $520,000 | 53% | $1,215,000 |
North Plympton | $772,000 | $505,000 | 53% | $1,180,000 |
Port Lincoln | $435,000 | $285,000 | 53% | $664,000 |
Paradise | $765,000 | $501,000 | 53% | $1,168,000 |
Glengowrie | $988,000 | $648,000 | 53% | $1,508,000 |
St Agnes | $615,000 | $404,000 | 52% | $937,000 |
Henley Beach South | $1,260,000 | $828,000 | 52% | $1,919,000 |
Glenunga | $1,400,000 | $923,000 | 52% | $2,124,000 |
Golden Grove | $705,000 | $465,000 | 52% | $1,069,000 |
Semaphore Park | $785,000 | $518,000 | 52% | $1,190,000 |
Tea Tree Gully | $665,000 | $439,000 | 51% | $1,007,000 |
Clare | $425,000 | $281,000 | 51% | $643,000 |
Nailsworth | $910,000 | $603,000 | 51% | $1,373,000 |
Richmond | $763,000 | $508,000 | 50% | $1,146,000 |
Gawler South | $456,000 | $304,000 | 50% | $684,000 |
Port Augusta | $225,000 | $150,000 | 50% | $338,000 |
South Brighton | $787,000 | $525,000 | 50% | $1,180,000 |
Klemzig | $770,000 | $514,000 | 50% | $1,154,000 |
Vale Park | $1,100,000 | $735,000 | 50% | $1,646,000 |
Panorama | $935,000 | $625,000 | 50% | $1,399,000 |
Campbelltown | $770,000 | $515,000 | 50% | $1,151,000 |
Kensington Gardens | $955,000 | $640,000 | 49% | $1,425,000 |
Glenelg North | $890,000 | $600,000 | 48% | $1,320,000 |
Melrose Park | $863,000 | $583,000 | 48% | $1,277,000 |
Mile End | $838,000 | $566,000 | 48% | $1,239,000 |
Naracoorte | $363,000 | $245,000 | 48% | $536,000 |
Marleston | $735,000 | $498,000 | 48% | $1,086,000 |
Prospect | $819,000 | $555,000 | 47% | $1,207,000 |
Mitchell Park | $654,000 | $445,000 | 47% | $962,000 |
Warradale | $845,000 | $575,000 | 47% | $1,242,000 |
Glen Osmond | $1,450,000 | $990,000 | 46% | $2,124,000 |
Blair Athol | $718,000 | $491,000 | 46% | $1,052,000 |
Daw Park | $837,000 | $573,000 | 46% | $1,224,000 |
Kilburn | $627,000 | $430,000 | 46% | $913,000 |
Magill | $890,000 | $612,000 | 45% | $1,294,000 |
Parkside | $1,045,000 | $720,000 | 45% | $1,517,000 |
Mawson Lakes | $585,000 | $404,000 | 45% | $847,000 |
Rostrevor | $910,000 | $630,000 | 44% | $1,314,000 |
Edwardstown | $725,000 | $502,000 | 44% | $1,047,000 |
Camden Park | $698,000 | $483,000 | 44% | $1,007,000 |
Morphettville | $703,000 | $488,000 | 44% | $1,012,000 |
Risdon Park | $250,000 | $174,000 | 44% | $360,000 |
Burnside | $1,150,000 | $800,000 | 44% | $1,653,000 |
Underdale | $750,000 | $522,000 | 44% | $1,078,000 |
Hectorville | $738,000 | $515,000 | 43% | $1,058,000 |
Broadview | $708,000 | $494,000 | 43% | $1,014,000 |
Largs Bay | $740,000 | $519,000 | 43% | $1,055,000 |
Port Elliot | $755,000 | $530,000 | 42% | $1,076,000 |
Brompton | $718,000 | $505,000 | 42% | $1,019,000 |
Flinders Park | $859,000 | $605,000 | 42% | $1,220,000 |
Glandore | $900,000 | $638,000 | 41% | $1,271,000 |
Fullarton | $1,034,000 | $733,000 | 41% | $1,460,000 |
Pasadena | $796,000 | $566,000 | 40% | $1,118,000 |
Westbourne Park | $1,173,000 | $836,000 | 40% | $1,644,000 |
Myrtle Bank | $1,260,000 | $903,000 | 40% | $1,758,000 |
Cumberland Park | $963,000 | $690,000 | 39% | $1,343,000 |
West Lakes | $809,000 | $580,000 | 39% | $1,128,000 |
Unley | $1,178,000 | $855,000 | 38% | $1,623,000 |
Woodville West | $625,000 | $463,000 | 35% | $845,000 |
Mitcham | $1,073,000 | $795,000 | 35% | $1,449,000 |
Marion | $687,000 | $510,000 | 35% | $925,000 |
Kensington Park | $1,128,000 | $842,000 | 34% | $1,511,000 |
Brooklyn Park | $623,000 | $470,000 | 32% | $824,000 |
Bowden | $606,000 | $460,000 | 32% | $798,000 |
Glenelg East | $770,000 | $590,000 | 30% | $1,004,000 |
Lower Mitcham | $1,030,000 | $812,000 | 27% | $1,307,000 |
Whyalla | $326,000 | $259,000 | 26% | $410,000 |
Glenelg | $693,000 | $555,000 | 25% | $864,000 |
Alberton | $580,000 | $465,000 | 25% | $723,000 |
St Clair | $520,000 | $430,000 | 21% | $629,000 |
Plympton | $617,000 | $514,000 | 20% | $742,000 |
North Adelaide | $805,000 | $671,000 | 20% | $966,000 |
Waikerie | $292,000 | $246,000 | 19% | $347,000 |
Payneham | $605,000 | $530,000 | 14% | $691,000 |
Adelaide | $525,000 | $472,000 | 11% | $585,000 |
Glenside | $720,000 | $671,000 | 7% | $773,000 |
Port Augusta West | $265,000 | $261,000 | 2% | $269,000 |
Roxby Downs | $270,000 | $270,000 | 0% | $270,000 |
Norwood | $650,000 | $651,000 | 0% | $650,000 |
Toorak Gardens | $757,000 | $976,000 | -22% | $587,000 |