South Australia’s statewide and metropolitan median house values have dipped slightly over the past quarter, new data shows, offering some hope that conditions might be easing for those looking to enter the market.
According to the latest Valuer-General’s figures for the year’s first quarter, South Australia’s median home value has dropped 0.65 per cent or $5000 over the past quarter, while Adelaide’s metropolitan median is down $3000 or 0.35 per cent.
Despite this, SA’s statewide median home value is up 12.83 per cent on this time last year to $765,000, with Adelaide’s metropolitan median up 11.45 per cent to $847,000.
Both represent an increase of $87,000.
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While the 5750 sales for the quarter was up on the same quarter in the previous year it was down on the 6605 recorded for the three months to January.
Real Estate Institute of South Australia chief executive Andrea Heading said SA’s market was performing strongly.
“While the volume of sales is still up from the same quarter last year, consumers still remain wary of the economic landscape moving forward,” Ms Heading said.
REISA CEO Andrea Heading. Supplied
“REISA is pleased that the median price demonstrates the strength and resilience of the South Australian real estate market yet is always mindful of the fact that supply, inflation, high interest rates crippling state land taxes and national and international economic uncertainties are dampening the numbers of houses being sold and purchased.”
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Of suburbs to have recorded 10 sales for both 2025 and 2024’s first quarter – experts consider 10 sales to be sufficient in calculating a statistically reliable average – the most affordable option was Elizabeth Downs, which has a median of $575,000.
“The decline in the volume of sales showed that the economic environment was continuing to cool the desire of first home buyers to enter the real estate market,” Ms Heading said.
“An ongoing lack of housing supply was also contributing to the situation whereby the news was good for current homeowners but not so good for those wishing to enter the market.”
Home values are up in many SA suburbs. Picture: Supplied by Colliers
According to the report, the median metropolitan unit value is also up 2.25 per cent or $13,500, over the past quarter, and 16.61 per cent, or $87,400, over the past 12 months to a $613,500 median.
City units and apartments, while up 0.05 per cent on this time last year have dropped 10.63 per cent over the past quarter and now have a median value of $460,250, down from $515,000 last quarter.
Of suburbs to have recorded at least 10 sales for this year and last’s third quarters, Bridgewater recorded the greatest percentage increase over the past 12 months, with the median up 34.69 per cent, or $255,000 to $990,000.
This is from 19 sales last quarter and 10 in the same quarter in 2023.
Harris Real Estate selling agent Tamara Gertig, who has sold 44 properties in Bridgewater in the past 12 months, said Bridgewater was well and truly on the map now.
Tamara Gertig of Harris Real Estate. Picture: Harris Real Estate.
“It’s always been like the poor brother to Aldgate and Stirling for some time but what buyers are realising is that you can get a lot more value for your money there,” Ms Gertig says.
“What’s happening, I feel, is a lot of the older homeowners who have been here for 50-odd years are now moving out of their big homes and going to lifestyle villages, and that’s freeing up a lot of good-sized family homes that are in need of renovation, but it’s an opportunity for young couples to make their mark and make it their home for the next 50 years.”
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Nurse consultant and capacity manager Gerri Saunders, 52, is currently selling her 20 Oak Ave, Bridgewater home of eight years through Ms Gertig and said she wasn’t surprised to hear values in the picturesque and private suburb had increased.
Gerri Saunders and children Ruby and Beau at their Bridgewater home they have on the market. Picture: Mark Brake
“I love the peacefulness of it, to be honest – I’ve been working in ED for 17 years and it’s a rat race, so the highlight of my day is coming home to peace,” she said.
“I think that it’s still a little bit undervalued price-wise as it’s still only 20 to 25 minutes from the city.
“I can’t think of a better place to live and raise kids.”
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For regional buyers, Port Augusta houses have had the greatest increase over the past three months – up $52,500, or 20.19 per cent for the quarter to $312,500, while Berri houses experienced the greatest rise over the past 12 months. Values here are up $104,375 or 36.69 per cent, to $388,875.
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