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SA house prices grew over 13% in 2024 Australian figures reveal

The latest PropTrack Home Price Index reveals diverse trends in home price growth across Australia, with South Australia showing notable increases.

The latest PropTrack Home Price Index reveals diverse trends in home price growth across Australia, with South Australia showing notable increases, particularly in Adelaide and its surrounding regions.

Despite a nationwide monthly decline of 0.2% in December 2024, the annual growth paints a different picture. Nationally, home prices have increased by 4.6%, with a median home value of $653,000. However, Adelaide and the rest of South Australia have outperformed the national average significantly.

In Adelaide, there was a slight monthly decrease of 0.2% in December. However, compared to the same period last year, prices jumped by 13.5%, bringing the median home value to $793,000. This ranks Adelaide second among all capital cities in terms of annual price growth for dwellings. Both units and houses in Adelaide experienced robust growth with increases of 13.6% and 13.1% respectively.

The rest of South Australia also enjoyed significant price appreciation. Dwellings in these regions experienced a monthly increase of 0.6% and an annual rise of 13.0%, with the median home value now standing at $467,000. Particularly, houses led this growth with an increase of 13.3%, while unit prices rose by 6.2% since December 2023.

Certain regions in South Australia demonstrated exceptional growth. The Barossa, Yorke Peninsula, and Mid North region saw house prices surge by 16.8%, making it the area with the highest growth. West Adelaide followed closely with house prices increasing by 16.1%, while North Adelaide saw a 15.4% rise. In terms of unit prices, North, West, and South Adelaide led with growth rates of 15.4%, 14.6%, and 14.1% respectively.

Recently, the most and least expensive streets in Adelaide and regionally were revealed, reflecting historic house prices throughout the state.

The PropTrack Home Price Index is a measurement system to monitor monthly changes in home value. It covers national, state, and regional levels, ensuring a comprehensive overview of market trends.

For more property statistics, visit the PropTrack website: https://www.proptrack.com.au/

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