Adelaide property market data, trends, forecasts

By Andy Webb · Data to September 2026 · Updated October 2026

Adelaide property market news - key takeaways

• Prices fall for the month: Adelaide dwelling values fell -1.3 per cent over September 2026, though they remain higher than a year ago because of growth recorded earlier in the cycle.
• More homes on the market: Total listings in the Adelaide property market are +50.7 per cent higher than a year ago, giving buyers more choice and less pressure to commit quickly.
• Auction results favour buyers: Adelaide's clearance rate was 32.9 per cent for the week ending 4 October, a soft result with many homes passed in that points to conditions favouring buyers.
• Rental market stays tight: Adelaide's vacancy rate sits at just 0.6 per cent, less than half the national rate, which leaves tenants with few options and keeps rents climbing across the city.
• Rates add pressure: The RBA cash rate sits at 4.60 per cent after four rises this year, and two of the major banks expect one more rise in November 2026, limiting how much Adelaide buyers can borrow.

Adelaide property price movements

Prices in the Adelaide property market fell across both houses and units in September 2026. Annual growth remains positive, but the shorter-term figures point to softer conditions for sellers.

Adelaide property prices - September 2026

The typical Adelaide home value fell -1.3 per cent over September 2026, adding to a -2.7 per cent decline across the quarter. Values are still +6.5 per cent higher than a year ago, which reflects growth recorded before the recent fall.

^{Source: Cotality, data to September 2026}

That monthly fall took around $12,200 off the median value of Adelaide homes, which now sits at $928,560. Values are -2.9 per cent below their May 2026 peak. For buyers, prices are now a little lower than they were at the top of the market four months earlier.

Tim Lawless, Research Director at Cotality, said in the September 2026 Home Value Index:

"97% of capital city suburbs were down in value over the three months to end of September, highlighting the broad-based scope of this negative housing cycle."

Mr Lawless's point covers capital cities nationally, and Adelaide's -2.7 per cent quarterly fall sits within that wider pattern. On that reading, the recent fall in Adelaide values reflects a national shift rather than conditions unique to the city.

House prices in Adelaide

Adelaide house prices fell -1.4 per cent in September 2026, taking the median house value to $990,531. The quarterly change was -2.7 per cent, while annual growth holds at +6.5 per cent.

^{Source: Cotality, data to September 2026}
The monthly fall equals a drop of around $14,100 in the median house value. Houses and units moved in the same direction by much the same amount, with little separating them over the month, quarter or year. Houses remain the more expensive option, with the median sitting around $316,300 above the unit median.

Unit prices in Adelaide

Adelaide unit prices slid -1.1 per cent in September 2026, bringing the median unit value to $674,188. Over the quarter, units fell -2.9 per cent, though they are still +6.2 per cent higher than a year earlier.

^{Source: Cotality, data to September 2026}
That monthly result removed around $7,500 from the median unit value. Annual growth for units is broadly in line with houses, so neither segment has clearly held up better through the recent fall. Units remain the lower-cost entry point into the Adelaide market.

Adelaide property market forecasts 2026-2027

Australia's Big Four banks, CBA, Westpac, NAB and ANZ, publish house price forecasts as part of their economic research. Their views for Adelaide over 2026-2027 vary, and the gap between them widens noticeably in the second year.

^{Source: each bank's published forecast (Last published column); change in dwelling values over the calendar year}

For 2026, all four banks expect Adelaide values to finish the year higher, with CBA the most optimistic at +6.0 per cent and NAB the most cautious at +1.0 per cent. The Adelaide house price forecast for 2027 is more divided, with Westpac the most optimistic at +4.0 per cent and ANZ alone expecting a decline of -7.6 per cent.

Consultancy KPMG sits toward the upper end of the range for this year, forecasting +5.3 per cent for Adelaide house values across 2026, with unit values at +6.5 per cent.

RBA cash rate forecast 2026-2027

The Reserve Bank lifted the cash rate again in September, its fourth rise this year, as inflation stayed above its target band. The major banks are split evenly on what comes next: ANZ and Westpac expect one more rise in November, while CBA and NAB expect the cash rate to hold. The table below sets out each bank's forecast.

The cash rate is 4.60 per cent. The major banks' forecasts for the next move:

^{Source: ANZ, CBA, NAB and Westpac forecasts, as at 8 October 2026}

What this means for the Adelaide market

Each rate rise lifts monthly repayments and lowers the amount lenders will approve, because banks test every loan application against a higher interest rate. For Adelaide buyers, that smaller borrowing capacity is currently outweighing the benefit of softer prices. Owners on variable loans have also absorbed four rises since February.

Whether a further rise arrives in November is likely to shape which end of the 2027 forecast range proves closer. First-home buyers, who tend to borrow close to their limit, feel each move most, while upgraders with equity in their current home have more room to absorb it. With more homes for sale and buyers taking longer to commit, conditions currently favour buyers who already have their finance approved.

Helpful resource: Our simple guide to tracking market trends and data will walk you through everything you need to know to be able to read the market and make a smarter selling decision.

Adelaide house prices graphs and charts

Adelaide's house price growth over the last 5 years has brought the city's median dwelling value to $928,560, according to Cotality's latest figures. Values fell -1.3 per cent over the month and -2.7 per cent over the quarter, but they remain +6.5 per cent higher than a year ago.

Much of the city's growth was supported by steady buyer demand and a tight rental market, but four cash rate rises in 2026 have lifted the rate to 4.6 per cent and cut how much households can borrow. More homes are now listed for sale and they are taking longer to find a buyer, which helps explain why values have fallen since their May 2026 peak.

Adelaide property 30 year property price graph

Recent strength builds on a much longer rise in values — Adelaide property prices growth over the last 10 years has been pronounced, roughly doubling in that period as population inflows, low historical interest rates and constrained supply pushed medians sharply higher. 

Over the past three decades, Adelaide has delivered steady long‑term gains despite periods of flat growth, the GFC wobble and the COVID surge; homeowners today generally feel positive because many held through earlier dips and now sit on strong equity, while buyers are more cautious because affordability and tight rental markets make entry harder. The city’s recent upswing is also shaped by supply shortages, low vacancy rates and changing interest‑rate cycles, so sentiment is a mix of confidence for owners and frustration for aspiring buyers.

Adelaide selling statistics

Selling conditions in Adelaide have shifted toward buyers over the past year. Homes are taking longer to find a buyer, far more properties are advertised, and auction results have weakened. For sellers, realistic pricing and careful preparation now carry more weight than they did a year ago.

Want to know what your own property is worth? Get a free value estimate for your address.

Adelaide sales volume and days on market

Sales volumes in Adelaide fell -4.6 per cent year on year, a smaller decline than the -9.1 per cent across the combined capitals and -6.4 per cent nationally. The median home took 37 days to sell, up from 32 days a year earlier. That is still quicker than the combined capitals median of 39 days and the national median of 41 days.

^{Source: Cotality, data to September 2026}

Fewer homes are changing hands than a year ago, but Adelaide's drop in sales activity is around half the size of the combined capitals decline. Buyers have more time to weigh their options before committing. Sellers, on average, are still finding a buyer slightly sooner than in the broader market.

Adelaide new and total listings

New listings rose +18.5 per cent year on year. Total listings, which counts every property currently advertised for sale, rose +50.7 per cent over the same period. The much larger rise in total stock suggests homes are coming to market faster than buyers are absorbing them.

^{Source: Cotality, data to September 2026}

For buyers, a bigger pool of homes means more choice and less pressure to act quickly. For sellers, it means more competing listings, which is consistent with Adelaide dwelling values falling -1.3 per cent monthly. In a crowded market, a well-presented home with a realistic price is more likely to stand out.

Adelaide vendor discount and auction clearance rates

Vendor discount is the gap between a home's first advertised price and the price it eventually sells for. An auction clearance rate is the share of auctions that result in a sale on or around auction day. Read together, the two show how close sale prices are landing to expectations and how readily homes are selling.

Adelaide vendor discount

^{Source: Cotality, data to September 2026}

The median vendor discount in Adelaide widened to -3.9 per cent, from -3.2 per cent a year earlier. In practical terms, the typical seller is now accepting a final price a little further below the original asking price. The shift of 0.7 percentage points is modest, which suggests sellers are adjusting their price expectations gradually rather than sharply.

Adelaide auction clearance rates

^{Source: Cotality, week ending 4 October 2026}

Adelaide's clearance rate was 32.9 per cent for the week ending 4 October, with 23 of 70 auctions resulting in a sale and 45 passed in. A result well below 50 per cent points to weak auction conditions that favour buyers, with many homes not reaching the seller's reserve on the day. As a single week of 70 auctions, this result is best read alongside the longer selling times and wider discounts above.

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Adelaide property investing

Adelaide's rental market remains tight for tenants, with few empty homes available and rents still climbing. For investors, that combination supports steady rental income at a time when home values have been easing.

Helpful resource: Estimate the capital gains tax on a sale with our free calculator.

Adelaide rental market

The table below compares annual rent changes and gross rental yields across the capitals, along with separate rent figures for houses and units. A gross rental yield is the yearly rent a property earns as a share of its value, before costs such as council rates, insurance and maintenance.

^{Source: Cotality, data to September 2026}

Adelaide rents rose +6.3 per cent over the year, above the national figure of +5.5 per cent. Houses (+6.3 per cent) and units (+6.1 per cent) were broadly in line. The city's gross yield of 3.6 per cent sits among the lower results for the capitals and just under the combined capitals figure of 3.7 per cent, which suggests values remain high relative to rents even after the recent easing in home prices.

Adelaide vacancy rates

The vacancy rate measures the share of rental homes sitting empty and available to lease, so a low figure means tenants have fewer options. Adelaide's vacancy rate fell from 0.8 per cent a year ago to 0.6 per cent, with vacant rentals dropping from 1,207 to 948 properties.

^{Source: SQM Research, September 2026}

Adelaide's vacancy rate of 0.6 per cent is less than half the national rate of 1.4 per cent, placing it among the tighter capitals. The two have moved in opposite directions over the year, with the national rate rising while Adelaide's fell by 0.2 percentage points. Fewer empty rentals generally give landlords more room on pricing, which helps explain why rents have kept climbing.

Louis Christopher, Managing Director at SQM Research, said in SQM Research's latest weekly update:

"The smaller capitals are a different story. With vacancy rates still below 1% in Brisbane, Perth, Adelaide, Darwin and Hobart, there is little sign yet of relief for tenants in those cities."

Mr Christopher's view lines up with Adelaide's own vacancy reading, which remains well below the national rate. If his assessment holds, tenants may keep facing strong competition for available homes in the months ahead. For investors, it suggests rental income could stay steady even as home values ease.

Highest growth areas in Adelaide

The table below ranks the 10 Statistical Area Level 3 (SA3) regions across Greater Adelaide with the highest annual growth in property values. An SA3 is a region defined by the Australian Bureau of Statistics that typically covers several neighbouring suburbs, which makes it a useful way to compare broader parts of the city. Annual figures cover the full 12 months, so they include gains made earlier in the year before values began to ease more recently.

^{Source: Cotality, data to September 2026}

Highlights for Adelaide’s high growth areas

• Onkaparinga: Ranked #1 with annual growth of +10.1 per cent and a median value of $905,542, Onkaparinga leads the city. The region stretches along Adelaide's southern coastline and offers beachside living at prices below many inner-ring markets, with suburbs such as Aldinga Beach and Morphett Vale drawing buyer interest.
• Gawler - Two Wells: Ranked #2 with +9.6 per cent annual growth and a median of $816,481, this region sits on Adelaide's northern fringe. Relative affordability and ongoing new housing development have supported demand, particularly in growth areas such as Gawler East and Two Wells.
• Campbelltown (SA): Ranked #3 with +9.2 per cent annual growth and a median of $1,121,801, Campbelltown (SA) is one of the more established areas in the top three. Its eastern location, easy access to the city and family-sized homes in suburbs such as Athelstone and Rostrevor continue to appeal to buyers.
• Northern corridor: Tea Tree Gully at #4 (+9.0 per cent, $937,350), Salisbury at #5 (+8.2 per cent, $797,770) and Port Adelaide - East at #9 (+6.7 per cent, $937,898) all sit within Adelaide's northern suburbs. These areas offer established family housing at mid-range price points, which has kept them on the radar of buyers stretching their budgets, with Golden Grove and Mawson Lakes among the better-known pockets.
• Established south and hills: Mitcham at #6 (+7.8 per cent, $1,326,598), Unley at #7 (+7.1 per cent, $1,476,255) and Adelaide Hills at #10 (+6.7 per cent, $1,007,733) represent some of the city's higher-value areas. Growth here has been steadier than on the city fringe, which is typical of established markets where buyers pay a premium for proximity, character homes and lifestyle, in suburbs such as Blackwood and Stirling.

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