Adelaide is bucking the national trend, a new report shows, and is one of just two capital cities with more new listings currently on the market than at this time last year.
Only Adelaide and Perth’s property market are outperforming last May’s new releases, with there being 3 per cent more new Adelaide properties currently for sale than this time last year.
We trailed just behind Perth, where the number of new listings is up 3.5 per cent on this time last year.
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Both cities sit streets ahead of the capital city average – a 7.6 per cent drop on this time last year.
Darwin recorded the biggest drop in new listings on this time last year, and by an absolute mile too. There are 35 per cent fewer new listings on the market than last May.
Melbourne was the second-worst market for househunters, with an 11.8 per cent drop in new listings.
This is a rare sight in many states. Pic: supplied..
In terms of new listings over the past month, Adelaide’s performing a little slower than some of Adelaide’s larger cities.
Up 6.5 per cent over the past month, Adelaide’s new listings trail Canberra (24.7 per cent), Sydney (217 per cent), Darwin (21.4 per cent), Melbourne (9.7 per cent) and Brisbane (8.9 per cent).
Turner Real Estate managing director Lachlan Turner said Adelaide was performing strongly.
“Adelaide’s property market has continued its impressive growth through May and into June, cementing its place as one of the strongest-performing capitals in the country,” he said.
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“Metropolitan home values have seen consistent growth, driven by low supply, strong population gains, and unwavering buyer demand.
“The latest figures show the median house price has climbed to $882,157, while units have reached $600,071, both rising 0.4 per cent month-on-month.
He said over the past 12 months, Adelaide has experienced an impressive 12.2 per cent annual growth, outpacing most other Australian cities.
Turner Real Estate managing director Lachlan Turner. Pic: supplied
“Rental prices have also remained at record highs,” he said.
“The median weekly rent is $650 for houses and $590 for units, supported by a tight vacancy rate of just 0.7 per cent.
“These conditions reflect a highly competitive market for tenants and continued interest from investors.”
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New listings were sluggish in regional SA, where numbers are up just 0.5 per cent for the month, compared to a national average of 0.0 per cent, and down 16.2 per cent year-on-year compared with a national average of -13.3 per cent.
Report author Angus Moore said nationally, new listings lifted 7.6 per cent in May relative to April, as market activity picked back up following the Easter and Anzac Day long weekends.
PropTrack economist Angus Moore. Pic: supplied
“Every capital city recorded month-on-month growth in new listings, with Canberra and Sydney leading the gains,” he said.
“Overall, this autumn selling season recorded a 4.9 per cent annual drop in new listings compared to autumn 2024, as April and May experienced slower activity than a year ago.”
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