Adelaide is currently the best-performing capital city for houses and units, providing homeowners with the fastest quarterly gains.

It is also the only capital city with record house and unit prices.  House price growth gathered slight momentum over the September quarter – the most substantial quarterly gain since early 2022 – to rise to another record high.
 
Adelaide unit prices continued to grow over the September quarter at an eased pace compared to the steepest quarterly surge the city had seen since 2007 last quarter.


 
Utilising a fresh model upgrade, CoreLogic's National Home Value Index recorded a 0.8% rise in September as the recovery trend moved through an eighth consecutive month of growth.
 
The rise takes the quarterly pace of growth to 2.2%, easing from a 3% gain in the June quarter.
 
The slowdown in growth has occurred as advertised stock levels rise, helping to take some heat out of the market.
 
With a 4.3% in housing values in the September quarter, Adelaide is now leading the capital cities for growth.
 
Such strong conditions are occurring while advertised supply levels are 39% below the five-year average for this time of the year, and estimated purchasing activity is 10% above the five-year average.
 
Such low supply in the face of above-average demand is a key factor supporting value growth.
 
Adelaide's market has been at record highs since June after recovering from a mild 1.7% drop in values through its fleeting downturn.
 
The performance of the housing market in each city reflects the underlying supply dynamic.
 
The three capitals recording the highest capital gain have each recorded advertised supply levels that are around 40% below their previous five-year average.
 
Since finding a trough in January, the National Index has recovered by 6.6%, and home values remain 1.3% below the record highs recorded in April last year.
 
Regional markets are continuing to lag the capital cities, with the rest of the state region recording weaker growth conditions relative to the capital city counterpart over the September quarter.
 
At a broad level, the combined regional markets recorded a 1.1% rise in dwelling values through the September quarter, which was less than half the gain across the combined capital city market at 2.5%.
 
With advertised stock levels showing no signs of a rise, we can expect Adelaide home values to continue rising.
 
The trend in advertised stock levels is a key influence on housing values, with the flow of new listings on an upwards trajectory since early June, bucking the normal seasonal trend where new listings are typically flat to falling through winter.
 
As the number of freshly advertised properties increases, there's also been an upswing in the total number of homes advertised for sale.