Adelaide leads capital cities in home value drops, new data shows

Adelaide has once again suffered the greatest median home value drop of any capital city over the past 30 days, new data shows, with values down for the fourth consecutive month. According to realestate.com.au’s October Home Price Index, Adelaide’s median home value dropped 0.6 per cent or $13,000 last month – and is down 2.5 per cent from its peak in May. Adelaide’s median combined dwelling value – that of both houses and units – currently sits at $915,000, and is down from $928,000 last month. Houses also took a hit – down 0.6 per cent or $15,000 for the month from a $1.005m median to $990,000. Adelaide unit prices followed suit, dropping 0.7 per cent or $6,000 for the month from a $687,000 median to $681,000. Despite this, values are still up over the past 12 months, with Adelaide’s combined dwelling price sitting 5.6 per cent or $66,000 higher than this time last year, its median house price 5.4 per cent higher or $72,000 more than last year, and its unit price 7.4 per cent or $36,000 higher than last September. Realestate.com.au senior economist Eleanor Creagh Report author, realestate.com.au senior economist Eleanor Creagh said national home prices had fallen for a sixth cons...