Have you got an eye on the Adelaide or South Australian property market in 2025?

You may be looking to sell your family home, or want to know if now is a good time to offload an investment property you own. No matter the scenario, this article has all the latest stats and expert insights about how the SA and Adelaide property markets performed in 2024, and how they are predicted to perform in 2025.

Let’s start by summarising how the state capital, Adelaide fared over 2024.

What did the property market look like in Adelaide and South Australia in 2024?

South Australia’s property market delivered another outstanding performance in 2024, with both Adelaide and regional areas posting strong price gains. 

According to CoreLogic data, Adelaide home values climbed 13.1 per cent over the year, bringing the city’s median property price to $814,430. This marks a remarkable 72.1 per cent surge since 2020, with Adelaide surpassing Melbourne in affordability rankings midway through 2024. House prices in the city rose 12.5 per cent, while units outperformed, increasing by 16.9 per cent, highlighting continued demand for more affordable entry points into the market.

Unlike many other capital cities, Adelaide’s momentum remained strong in the second half of the year, posting an additional 2.1 per cent growth in Q4, making it the most resilient major market in Australia. Regional South Australia also saw exceptional gains, nearly mirroring Adelaide’s performance with 12.5 per cent annual growth. Since the start of the pandemic, regional SA has experienced a staggering 70.2 per cent price increase, cementing its status as a high-growth area.

Despite the rapid price appreciation, rental yields have come under pressure, as affordability constraints weigh on returns. By December 2024, Adelaide’s gross rental yield had dipped to 3.7 per cent, although rental prices continued to climb. House rents increased by 6.1 per cent, while unit rents surged by 9.2 per cent, reflecting high demand and ongoing supply shortages. With Adelaide’s strong fundamentals and steady growth trajectory, buyer confidence remains high heading into 2025.

South Australian suburbs with the highest growth

While Adelaide has been on an incredible run of growth over the past five years, one part of the city continues to deliver exceptional returns due to its relative affordability and ongoing gentrification: Adelaide's North.

Here are the five highest growth suburbs for houses in 2024 according to CoreLogic's Best of the Best report:

• Elizabeth East grew +26.6 per cent for a median value of $574,027
• Elizabeth South grew +26.5 per cent for a median value of $496,628
• Salisbury North grew +25.6 per cent for a median value of $579,319
• Davoren Park grew +25.5 per cent for a median value of $517,004
• Elizabeth Grove grew +24.8 per cent for a median value of $514,854

Interestingly, it was the city's south that dominated when it comes to units, with four of Adelaide's top five growth suburbs of 2024 coming from that part of the city:

• Salisbury East grew +40.2 per cent for a median value of $445,872
• Edwardstown grew +35.5 per cent for a median value of $585,027
• Hove grew +35.0 per cent for a median value of $708,432
• South Plympton grew +34.3 per cent for a median value of $572,118
• Brighton grew +32.2 per cent for a median value of $755,839

Looking to regional South Australia, here were the top five movers for house price growth in the state:

• Ardrossan grew +22.5 per cent for a median value of $476,413
• Maitland grew +20.3 per cent for a median value of $411,276
• North Beach grew +19.4 per cent for a median value of $595,890
• Waikerie grew +19.3 per cent for a median value of $344,909
• Murray Bridge grew +18.7 per cent for a median value of $461,655

You may be thinking these figures look promising, but is it worth investing in the state?

Looking ahead: how are Adelaide property prices expected to change in 2025?

Adelaide’s property market is expected to continue its strong growth trajectory in 2025, although the pace of gains may ease compared to previous years. 

Westpac forecasts a 4.0 per cent increase, noting that while Adelaide has enjoyed a robust run, affordability concerns are emerging as price relativities stretch. NAB and Domain offer more optimistic projections, expecting growth of 7.9 per cent and between 7 to 9 per cent, respectively, suggesting Adelaide will remain one of the strongest-performing capital city markets.

SQM Research’s Louis Christopher takes an even more bullish stance, predicting Adelaide property prices will rise between 10 and 14 per cent over the next 12 months. He highlights first-home buyer activity, tight rental conditions, and stronger-than-expected population growth as key drivers but warns that a weaker population inflow or an unexpected rate hike could stall the market.

Propertyology forecasts growth of 8 to 11 per cent, citing Adelaide’s economic transformation and high local confidence as major tailwinds. While manufacturing and agribusiness remain core industries, the city has emerged as a leader in health, space, and defence technology, bolstering its economy. Propertyology also points to record tourism numbers and a thriving events calendar, keeping demand for housing high. 

With buyer activity increasing every month since Easter 2024 and for-sale listings at half the levels seen a decade ago, Adelaide’s strong fundamentals should continue supporting price growth throughout 2025.