Adelaide’s median land price has surged 30.9 per cent over the past year to $417,500, Olive Hume data reveals. Picture: Getty
Land prices are skyrocketing across Adelaide as competition for limited available properties heats up, new research reveals.
Oliver Hume Property Group’s latest data shows the city’s median land price rose 11.3 per cent in the three months to March and 30.9 per cent over the past year to $417,500.
It has now surpassed Melbourne’s median of $406,000 for the first time, but is less than South East Queensland’s $543,400.
The property services firm’s latest quarterly sales and price data analyses thousands of land sales across key markets in Melbourne, South East Queensland and Adelaide.
Oliver Hume chief economist Matt Bell. Picture: Supplied.
It also shows the volume of land sales across Adelaide fell more than 30 per cent over the quarter to 373 sales (compared to 545 in the December quarter) but was up on the 269 recorded at the same time last year.
Adelaide Plains recorded the biggest drop over the past year, from 24 sales in the March 2025 quarter to one this year.
Gawler followed with 28 sales in the same period last year and none this year, while Port Adelaide Enfield dropped from 13 sales to three.
Oliver Hume chief economist Matt Bell said Adelaide’s continued price growth reflected increased demand and ongoing supply constraints.
“Like many capital city land markets in Australia at the moment, Adelaide is feeling the impact of very strong demand and not enough supply,” he said.
“Sales volumes fell heavily in key corridors like Playford and Onkaparinga to be down 32 per cent for the quarter (although still 40 per cent higher than the March 2025 quarter).
“The decreased sales reflect a lack of new product coming to market rather than a dearth of buyers.”
The research comes as Housing Australia data reveals just 1400 of the 10,800 first-home buyers who have bought a South Australian property using the Federal Government’s five per cent deposit scheme built new homes.
PropTrack senior economist Anne Flaherty. Picture: Supplied.
PropTrack senior economist Anne Flaherty said while the program had helped many into homeownership, it didn’t help housing supply.
She said that even with lower deposit requirements, many first-home buyers would have struggled to find affordable options for new builds in recent years as construction prices have continued to rise.
“So it’s absolutely critical that the government needs to be doing everything we can to remove barriers to creating new housing, particularly at affordable price points,” Ms Flaherty said.
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