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A property in Adelaide currently costs between $600,071 for units and $882,157 for houses as of September 2025. Adelaide's property market offers the best affordability among Australia's major capital cities while maintaining strong growth potential, making it attractive for both first-time buyers and investors seeking value.
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Adelaide's property market stands out for its affordability and steady growth, with median house prices at $882,157 compared to Sydney's $2.04 million.
The market offers strong rental yields, particularly in northern suburbs like Paralowie, while premium areas like North Adelaide command prices over $1.3 million.
| Property Type | Current Median Price | Best Value Areas |
|---|---|---|
| Houses | $882,157 | Paralowie ($630,000) |
| Units | $600,071 | Northern suburbs ($380,000) |
| All Dwellings | $829,695 | Devon Park ($777,500) |
| Premium Houses | $1,300,000+ | North Adelaide, Prospect |
| New Build Cost | $396,924-$810,920 | 213 sqm average size |
How much does a property in Adelaide cost now, and what factors influence these prices?
Adelaide properties currently cost $882,157 for the median house and $600,071 for units as of September 2025.
Five key factors drive Adelaide property prices: population growth from interstate migration, limited housing supply creating competition, historically low interest rates boosting buyer demand, Adelaide's relative affordability compared to Sydney and Melbourne, and suburban demand shifts favoring family-friendly areas.
The Adelaide residential market benefits from strong economic fundamentals including job growth in healthcare, defense, and technology sectors. Interstate migration from expensive eastern capitals has increased buyer competition, particularly in suburbs offering value for money. Supply constraints from slow development approvals and rising construction costs have supported price growth across all property types.
Current mortgage rates between 5.80% and 6.20% remain accessible for most buyers, while Adelaide's median house price represents roughly half of Sydney's equivalent, maintaining its appeal for relocating families and investors seeking entry points into Australian property.
What are the current average prices per square meter for different property types in Adelaide?
New house construction in Adelaide costs between $1,860 and $3,800 per square meter depending on specifications and finishes.
For a typical new home of 213 square meters, total construction costs range from $396,924 to $810,920 excluding land. Basic specifications including standard fixtures and materials sit at the lower end, while premium finishes, high-end appliances, and custom features drive costs toward the upper range.
Land prices vary significantly by location, with new subdivisions offering blocks from 350 square meters in outer suburbs to established areas providing larger blocks exceeding 800 square meters. The combination of land and construction costs determines final property values, with established suburbs commanding premium prices per square meter due to location benefits.
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How do property prices vary across different suburbs in Adelaide?
| Suburb | House Median Price | Unit Median Price |
|---|---|---|
| North Adelaide | $1,300,000 | N/A |
| Prospect | $1,250,000 | N/A |
| Devon Park | $777,500 | N/A |
| Paralowie | $630,000 | $380,000 |
| Elizabeth South | $550,000 | $350,000 |
| Northern Suburbs Average | $630,000 | $380,000 |
| CBD Apartments | N/A | $650,000+ |
What are the typical sizes of properties in Adelaide, and how do they affect pricing?
New Adelaide homes average 213 square meters with block sizes ranging from 350 square meters in new subdivisions to over 800 square meters in established areas.
Larger properties generally command higher total prices but often offer better value per square meter, particularly in outer suburbs where land costs remain lower. Premium inner suburbs like North Adelaide feature smaller blocks but higher per-square-meter values due to location premiums and established infrastructure.
Family homes in growth suburbs like Paralowie typically sit on 400-600 square meter blocks, balancing affordability with space requirements. New subdivisions prioritize efficiency with smaller blocks to maximize development density, while established suburbs offer larger gardens and more space at premium prices.
Property size directly impacts ongoing costs including council rates, maintenance, and utilities, with larger properties requiring proportionally higher upkeep budgets but potentially offering better long-term capital growth in desirable locations.
What is the total cost of purchasing a property in Adelaide, including all fees and taxes?
Total upfront costs for buying an Adelaide property add 5-7% to the purchase price through various fees and taxes.
For an $882,157 median house purchase, expect these additional costs:
- Stamp duty: $38,000-$45,000
- Legal and conveyancing fees: $1,200-$2,500
- Building and pest inspection: $400-$800
- Mortgage application fees: $600-$1,000
- Property valuation: $300-$600
First-time buyers may qualify for stamp duty concessions reducing these costs significantly. Foreign buyers face additional Foreign Investment Review Board (FIRB) fees and surcharges on stamp duty, typically adding 7% to the base stamp duty rate for non-residents.
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What are the ongoing costs associated with owning a property in Adelaide?
Adelaide property owners face annual holding costs of approximately 3-4% of the property value through various ongoing expenses.
Council rates range from $1,300 to $2,500 annually depending on property location and value, with premium suburbs commanding higher rates. Property maintenance typically costs 1-2% of the property value per year, covering regular upkeep, repairs, and improvements necessary to maintain property condition and value.
Insurance costs vary from $900 to $2,000 annually based on property type, location, and coverage level. Properties in bushfire-prone areas or flood zones face higher premiums, while standard suburban homes enjoy competitive rates. Units additionally require body corporate fees averaging $2,000-$3,000 annually for shared facilities and building maintenance.
Rental properties incur additional costs including property management fees (6-8% of rental income), periodic safety inspections, and potential vacancy periods between tenants affecting cash flow calculations.
What are the current mortgage rates in Adelaide, and how do they impact monthly payments?
Current Adelaide mortgage rates range from 5.80% to 6.20% for standard variable owner-occupier loans as of September 2025.
A $700,000 home loan at 6% interest over 25 years requires approximately $4,500 monthly in principal and interest repayments. Recent interest rate movements significantly impact borrowing capacity, with each 0.25% rate change affecting monthly payments by roughly $100-$150 on a typical loan.
Fixed-rate options provide payment certainty but typically command slightly higher rates than variable loans. Investment property loans generally carry rates 0.3-0.5% higher than owner-occupier rates, reflecting increased lender risk assessments for rental properties.
Lower rates experienced in 2020-2022 stimulated significant buyer demand contributing to current price levels, while gradual rate increases have moderated market activity without causing major price corrections due to Adelaide's underlying affordability compared to other capitals.
What are the best areas to buy property in Adelaide if you plan to live in it?
Devon Park offers exceptional value for owner-occupiers with a median house price of $777,500 and proximity to CBD amenities and transport links.
Top owner-occupier suburbs combine lifestyle benefits with reasonable pricing:
- Devon Park: Close to amenities, $777,500 median, excellent transport access
- North Adelaide: Premium lifestyle, $1.3 million median, heritage character
- Prospect: Bordering North Adelaide, $1.25 million median, established community
- Paralowie: Family-friendly, $630,000 median, modern facilities and schools
- Glenelg: Beach lifestyle, premium pricing, strong amenity access
These suburbs offer different lifestyle propositions from premium inner-city living in North Adelaide to affordable family environments in Paralowie. Consider proximity to employment, schools, healthcare, and lifestyle preferences when selecting areas, as Adelaide's compact size ensures most suburbs maintain reasonable commute times to major employment centers.
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Which areas are most profitable for renting out properties in the short term?
Adelaide CBD and North Adelaide generate the highest short-term rental returns due to strong tourism and business travel demand.
Premium short-term rental locations benefit from proximity to Adelaide's major attractions, business district, and transport hubs. North Adelaide's heritage character and proximity to Adelaide Oval creates consistent demand from tourists and visitors attending events. CBD apartments capture business travelers and conference attendees willing to pay premium rates for central locations.
Beach suburbs like Glenelg attract seasonal holiday makers and weekend visitors, particularly during summer months when coastal properties command premium nightly rates. Properties near Adelaide Airport also perform well for business travelers requiring convenient accommodation.
Short-term rental success depends on property presentation, professional management, and compliance with local council regulations which vary by area. Consider ongoing management requirements and potential regulatory changes before committing to short-term rental strategies.
Which areas offer the best long-term rental yields?
Paralowie delivers exceptional long-term rental yields exceeding 4.5% for houses with strong tenant demand and affordable entry prices.
Northern and western suburbs provide the strongest rental yields in Adelaide's market due to affordable purchase prices combined with solid rental demand from families and essential workers. Elizabeth South has experienced rapid price growth while maintaining attractive rental returns for investors entering at current price levels.
These suburbs benefit from established infrastructure, schools, and shopping centers supporting consistent tenant demand. Transport connections to Adelaide CBD via train and bus networks ensure rental appeal for workers commuting to central employment areas.
Long-term rental yields in Adelaide's growth suburbs typically range from 4% to 5.5%, significantly higher than premium inner suburbs where yields often fall below 3% due to higher purchase prices relative to rental income potential.
What are the most cost-effective suburbs in Adelaide for first-time homebuyers?
First-time buyers should focus on northern and western suburbs offering median prices between $380,000 and $650,000 with strong growth potential.
Paralowie stands out for first-time buyers with house medians around $630,000 and unit prices from $380,000, providing modern amenities, quality schools, and transport links. Elizabeth South offers even greater affordability while benefiting from recent infrastructure investment and price growth momentum.
These suburbs qualify for various first-time buyer incentives including stamp duty concessions and government grants, reducing entry costs significantly. New developments in these areas provide modern homes with builder warranties, reducing immediate maintenance concerns for new owners.
Consider total ownership costs including transport expenses when evaluating affordable suburbs, as outer locations may require higher commuting costs that offset initial purchase savings over time.
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How have property prices in Adelaide changed over the past five years?
Adelaide property prices have increased by approximately 50% over the past five years, with annual growth averaging 7-10% since 2020.
Adelaide led national property price growth from 2020-2025, significantly outperforming Sydney and Melbourne during this period. The combination of low interest rates, interstate migration, and relative affordability created unprecedented demand for Adelaide residential property across all segments.
This growth period transformed Adelaide from Australia's most affordable capital to a market experiencing rapid appreciation while maintaining relative value compared to eastern capitals. Strong population growth from interstate migration, particularly from Victoria and New South Wales, sustained buyer demand throughout the growth cycle.
Recent market conditions show moderation from peak growth rates as interest rates increased and affordability constraints emerge for some buyer segments, though underlying demand factors continue supporting price stability rather than significant corrections.
What are the forecasts for property prices in Adelaide over the next one, five, and ten years?
| Timeframe | Projected Growth | Expected Median House Price |
|---|---|---|
| 2025 (Current) | 2% modest increase | $882,157 |
| 2026 | 3.6% projected rise | $895,726 |
| 5 Years (2029) | 20-30% cumulative | $1,100,000-$1,200,000 |
| 10 Years (2034) | Potential doubling in strong suburbs | $1,500,000-$1,800,000 |
| Long-term Average | 6-8% annual growth | Aligned with national cycles |
How does Adelaide's property market compare to other major Australian cities?
Adelaide offers the best affordability among Australia's major capitals with median house prices of $882,157 compared to Sydney's $2.04 million.
Adelaide's property market provides superior value proposition compared to other major Australian cities. Sydney and Melbourne command significantly higher entry prices while offering lower rental yields and reduced affordability for first-time buyers. Brisbane shows similar growth patterns to Adelaide but from a higher price base, reducing its accessibility advantage.
Adelaide's 10-year price growth of 7.6% annually matches or exceeds other capitals while maintaining the lowest median house prices among major cities. This combination of growth and affordability positions Adelaide favorably for both owner-occupiers seeking lifestyle upgrades and investors targeting yield and capital growth opportunities.
The Adelaide residential market benefits from lower volatility than Sydney and Melbourne, providing more predictable investment outcomes. Strong rental yields, particularly in growth suburbs, exceed returns available in premium markets while offering superior capital growth prospects compared to regional alternatives.
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Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Adelaide's property market offers exceptional value among Australia's major capitals, with median house prices at $882,157 providing accessibility for first-time buyers while delivering strong growth potential.
The combination of affordable entry points, solid rental yields exceeding 4% in growth suburbs, and continued population growth from interstate migration positions Adelaide as an attractive destination for both owner-occupiers and investors seeking long-term value.
Sources
- NAB Adelaide Property Market Insights
- OpenAgent Adelaide Property Market
- Property Finance & Investment Adelaide Market 2025
- RealEstate.com.au Building Costs Adelaide
- Savings.com.au Adelaide Suburbs to Watch 2025
- RealEstate.com.au Adelaide Price Forecasts
- Your Mortgage Median House Prices Australia
- Property Update Australia House Prices 10 Years