Welcome to TOOP+TOOP’s 2024 Annual Adelaide Property Report.
We hope you find this report insightful and valuable as we reflect on Adelaide’s property market over the past 12 months.
Despite a year of rising interest rates and ongoing affordability challenges, Adelaide’s property market has continued to deliver exceptional results. House prices increased by 13.24% in 2024, with unit prices growing by 15.12%, demonstrating the resilience and consistency that Adelaide is known for.
The median house price now sits at $865,563, a clear indication of the strong demand from both local and interstate buyers. Adelaide’s appeal lies in its balance — offering affordability compared to other capitals, alongside the lifestyle and liveability that buyers are seeking.
This report highlights the key trends driving the market and why Adelaide remains a dependable choice for homeowners and investors alike.
If you’d like to discuss any of the insights from this report, explore our latest listings, or learn more about how TOOP+TOOP can assist with your property journey, click here to get in contact.
Thank you for taking the time to review our report, and we look forward to supporting your property goals in 2025.
Regards,
Key Adelaide sales data for 2024
RP DATA Core Logic
23 Average Days on Market
13.24% Increase in House Price Growth in 2024
15.12% Increase in Unit Price Growth in 2024
$856,563 Median House Price for 2024
House price growth in Adelaide increased by 13.24% in 2024
Adelaide’s property market continues to prove its strength and stability over the decades. Unlike other Australian capitals that experience sharp rises and falls, Adelaide has consistently delivered sustainable growth, making it one of the country’s most dependable markets.
Only twice in the past 43 years has Adelaide recorded negative growth — a 3% dip in 1996 and a 4% drop in 2012. Even during major global challenges like the 1982 recession, the GFC, and COVID-19, Adelaide’s median house prices have steadily increased, reinforcing its reputation as a “safe as houses” market.
The affordability index further highlights Adelaide’s balance between manageable mortgage repayments and steady price growth. While affordability pressures have risen slightly, Adelaide remains more accessible than Sydney and Melbourne, offering both value and resilience to homeowners and investors. This unique combination of affordability and stability underscores why Adelaide remains a solid, long-term investment choice.
Percentage house price change 1983 - 2024
Adelaide continues to stand out as one of Australia’s most affordable capital cities relative to average household income.
With a price-to-income ratio of 8.71, Adelaide remains far more accessible than cities like Sydney (13.91) and Brisbane (8.88), while offering a balance of affordability and lifestyle that few capitals can match.
This affordability allows Adelaide buyers to commit less of their income to housing, leaving more room for lifestyle and other priorities. It’s a key reason why Adelaide remains an attractive market for a diverse range of buyers, from first-home owners to seasoned investors.
Adelaide Brisbane Melbourne Sydney
Adelaide remains one of the most affordable capital cities in Australia
In 2024 Adelaide continued to see a strong positive shift in migration. While net interstate migration has returned to traditional pre-covid levels, overseas migration continued to surge at similar levels to the last two years. This influx of new residents is expanding the buyer pool, creating more competition and further driving demand for property. While other states may see more dramatic fluctuations in migration, Adelaide’s balanced growth reinforces its reputation as a stable and attractive market for those seeking a strong combination of lifestyle and affordability.
South Australia population movement
What have buyers been searching for in 2024?
Adelaide buyers’ search priorities have shifted subtly this year, with features like ‘stone’ and ‘south-facing’ joining the list of most popular keywords. The suburbs of Glenelg South and Crafers have surged in demand, reflecting the rising appeal of coastal and Hills lifestyle properties. Interestingly, ‘shed’ and ‘study’ have dropped from the top searches, indicating a pivot away from work-from-home and storage needs toward lifestyle-driven choices.”
Most Searched by Buyers in 2024
Pool and Stone were two of the top search criteria for Adelaide properties in 2024
Our toop.com.au website attracted more than 4.3 million unique visitors through 2024.
While Adelaide locals accounted for a majority of those visitors, we also generated significant traffic from both across the border and from overseas.
ORIGIN OF OVERSEAS
TOOP.COM.AU
VISITORS
1. United States
2. New Zealand
3. UK
4. China
5. Singapore
ORIGIN OF AUSTRALIAN TOOP.COM.AU
1. Adelaide 2. Melbourne 3. Sydney
Darwin
VISITORS
Mount Gambier
Buyer demographics + Key Interests in 2024
Toop.com.au
HOW DID OUR TEAM’S 2024 SUBURB PREDICTIONS PERFORM?
As the year draws to a close, we reflect on our 2024 predictions for South Australia’s property market and how these suburbs performed in reality. Here’s a snapshot of the standout performers and the growth they’ve achieved:
Croydon Park experienced 12.3% growth, with the median price climbing by $118,000 to $729,000. Proximity to the CBD and ongoing gentrification contributed to its appeal.
Hope Valley. This family-friendly suburb in Adelaide’s northeast experienced 6.3% growth in 2024. The median price rose by $45,600, reflecting strong demand for well-connected suburban living.
Fairview Park delivered 11.8% growth, with a median price increase of $80,000, bringing it to $1,717,000. Its family-friendly appeal and green spaces continue to attract steady demand.
Kilkenny’s gentrification and proximity to amenities led to an impressive 32% growth in property values. The median price climbed by $213,000, cementing its place as a rising star in Adelaide’s inner-west.
O’Halloran Hill. This affordable yet convenient suburb grew by 21.1%, with the median price increasing by $131,000 to $505,000. Its balance of affordability and location has made it a top choice for first-home buyers and investors.
Port Noarlunga. Our prediction of growth in this vibrant coastal suburb proved spot on. Port Noarlunga experienced a solid 12.2% growth, with the median property price increasing by $85,700 compared to 2023.
Urrbrae delivered 17.5% growth, with the median price climbing by $258,000 to $594,000. Its prestige homes and proximity to the city made it a favourite for premium buyers.
Wattle Park. This high-demand Hills suburb recorded 15.2% growth, with the median price increasing by $218,000 to $1,223,000. Wattle Park remains a favourite among affluent buyers seeking family homes with scenic surroundings.
West Lakes. As anticipated, West Lakes continued to attract premium buyers. It delivered 24% growth, with the median property price increasing by $246,000. Lifestyle and waterfront appeal remain key drivers.
What are the next property hotspots? Here are our 2025 predictions.
As team, we have rigorously debated this topic before nominating our most promising suburbs for 2025. Our selections take into consideration not only property data but also our conversations on the ground and the forward indicators we’ve learned to spot over nearly 40 years embedded in the Adelaide real estate market.
*This report reflects our team’s opinions and insights and should be used as a guide only. For personalised property advice, we recommend talking with one of our TOOP+TOOP Sales Partners.
Aldinga
Why: Growth in Aldinga is fueled by coastal appeal and increased tourism. As development in this area continues, it will likely remain popular with lifestyle buyers.
Belair
Why: Proximity to the city combined with a semi-rural lifestyle makes Belair a consistent performer. Character homes and bushland views maintain steady demand.
Bridgewater
Why: A sought-after Hills suburb offering tranquility and space. Strong appeal to tree changers and families has kept demand steady, particularly for large homes.
Blackwood
Why: Nestled in the Adelaide Hills, Blackwood combines affordability with proximity to natural amenities, making it attractive to families and nature lovers. Limited supply drives steady growth.
Devon Park
Why: An inner-west suburb benefiting from proximity to Bowden’s urban renewal projects and the city. While smaller, its affordability compared to surrounding areas keeps it in demand.
Glenelg
Why: A premier coastal suburb that remains highly desirable for both lifestyle buyers and investors. Strong rental demand and continued tourism appeal make it a solid performer.
Glengowrie
Why: Neighboring Glenelg, this suburb offers similar proximity benefits without the premium price tag, attracting buyers looking for value.
Melrose Park
Why: An underrated suburb with strong connections to the city and southern beaches. Continued demand for affordable inner-city living supports its growth potential.
Nairne
Why: With increasing infrastructure and affordable larger blocks, Nairne continues to attract buyers looking for a Hills lifestyle at a more accessible price point.
Prospect
Why: Close proximity to the CBD, vibrant community atmosphere, and ongoing gentrification make Prospect a prime candidate for growth. High demand for character homes and modern amenities adds to its appeal.
Adelaide’s property market continues to offer a unique combination of stability, affordability, and lifestyle appeal, making it one of the most exciting markets in the country. Whether you’re considering buying, selling, or simply staying informed, our team is here to help you navigate every step with confidence and expertise.
Click here to view our latest listings, recent sale results, or to learn more about the tailored services we offer.
