Adelaide land market stabilising after boom

Adelaide’s land market appears to be stabilising, according to new Oliver Hume research. Adelaide’s greenfield land market is stabilising as sales dwindle and price growth continues to ease, new research reveals. The latest Oliver Hume Land Index and Residential Outlook shows the city’s land market was returning to a more normal level. It comes after years of fierce demand for limited available lots driving prices up across the capital. Adelaide‘s score dropped in the three months to June from 6.1 to 5.2 on the index, which is a quarterly analysis of Australia’s major city land markets to offer a forecast for sales and price movements over the next year. Each city is scored between zero and 10 based on supply and demand, market sentiment and price trends, with five indicating a balanced market. Fierce demand for limited available lots has been driving prices up across the city for years. Picture: Getty. Adelaide was the second-biggest mover of any market in the quarter, with the fall largely because of dips in supply and demand as well as market sentiment. Sales fell by 20.4 per cent in the quarter to 297 – and 41.7 per cent annually – while clearance rates were down and unsold sto...