What Adelaide’s spring property market really looks like now

Spring is here, and as such the state’s peak selling season is officially underway. And this spring is tipped to be a little different from previous ones as the market has softened over recent months, giving sellers the upper hand in some transactions, but with agents reporting a strong pipeline of homes that could see prices rise. A realestate.com.au report this week revealed Adelaide had suffered the biggest median home value drop of any capital city over the past month, with values down for the third consecutive month. According to realestate.com.au’s September Home Price Index, Adelaide’s median combined house and unit value dropped 0.9 per cent or $7000 last month to $928,000. Despite this, values are still up over the past 12 months, with Adelaide’s combined dwelling price sitting 8 per cent or $75,000 higher than this time last year. John and Stephanie Williams of Williams Luxury Real Estate. Williams Real Estate’s Stephanie and John Williams said it was important to look beyond short-term market performance and while there was some truth the market had become more measured, the picture from the frontline was positive. “From our perspective, and the strong activity we have b...