Adelaide Property Market – Prices, Trends, Forecast [November 2026]

Adelaide’s property market is barely holding on to its gains for the year, with dwelling values just 0.4% higher at October’s end. Widespread recent declines have shifted the emphasis from continued expansion to a correction.

That change matters because a positive year-to-date result can obscure the direction now taking shape. The latest weakness reaches across the city, making recent momentum more revealing than the modest gain retained since the start of January.

Key Takeaways

• The recent correction left Adelaide dwelling values 3.9% lower over the quarter, despite a 0.4% year-to-date gain.
• Unit values fell 1.6% during October, compared with a 1.2% decline for houses.
• Rental growth remained similar across property types, with annual increases of 6.3% for houses and 6.4% for units.
• Gross yields favoured units at 4.6%, compared with 3.5% for houses, before expenses.
• Further easing appears likely as national demand constraints outweigh the support from restricted new construction.

See how Adelaide’s property values have performed across houses and units over various timeframes, along with returns, yields, and median prices.

Watch Cotality’s Housing Market Update for expert commentary on national and capital city housing trends, price movements, and key market drivers across Adelaide.

Adelaide Property Price Growth

A 3.9% fall over the quarter to October has left Adelaide’s dwelling values only 0.4% higher for the year to date. October contributed a further 1.2% decline, bringing values 4.4% below their May 2026 peak. Annual growth remained positive at 3.7%, while the five-year increase stood at 54.2%. Those longer windows capture earlier gains that the recent correction has partly eroded.

Units fell more sharply during October, down 1.6% against 1.2% for houses, although annual growth remained 3.4% and 3.7% respectively. Median estimated values were $661,647 for units and $977,551 for houses, with dwellings at $916,860. Within Greater Adelaide, Gawler – Two Wells led the qualifying statistical areas for annual dwelling growth at 7.3%, followed by Onkaparinga at 6.7%. These annual local results cover a longer period than the declines across virtually every Adelaide suburb over the latest three months.

Adelaide Property Market Trends

Slower sales across the broader capital-city market are allowing advertised stock to build despite fewer fresh listings than average. Capital-city listings reached their highest seasonal level since 2019, while combined-capital auction clearance rates remained below 50%. These conditions place Adelaide within a broader selling environment where the balance between buyers and sellers has softened.

Rent increases in Adelaide were almost identical across property types: houses rose 6.3% annually to October and units 6.4%. Vacancy rates were higher than a year earlier, so rental growth continued alongside some easing in occupancy conditions.

The distinction between property types was greater for gross rental yields, at 4.6% for units and 3.5% for houses, with dwellings at 3.7%. Units generated more rental income relative to value, before expenses. Nationally, elevated financing and ownership costs continue to affect the income remaining after those costs.

Here’s how values have shifted across the main regions and timeframes.

Adelaide Property Market Forecast

Lengthy construction timelines limit how quickly new housing can reach the market nationally, providing a counterweight to weaker demand. High development costs and capacity constraints should help contain the broader downturn, while continuing population growth adds underlying demand. Adelaide nevertheless looks likely to experience further near-term easing from its current position below May’s peak. National affordability constraints, high mortgage servicing costs and subdued confidence remain restrictive. The balance favours a gradual decline rather than renewed growth, with scarce new construction offering support without establishing a floor beneath Adelaide’s values or determining when the local correction will end.

The Reserve Bank of Australia’s ongoing adjustments to interest rates will likely play a crucial role in shaping market dynamics, as higher borrowing costs limit purchasing power for many buyers.

Here are some of the most recent forecasts by the big-4 banks in Australia (Reviewed September 2026):

• ANZ expects capital-city prices to decline in both 2026 and 2027. ANZ forecast coverage
• CBA expects further national price declines before a modest recovery during 2027. CBA housing outlook
• NAB forecasts lower prices across the eight capital cities in 2026. NAB Housing Monitor
• Westpac’s June forecast anticipates flat prices in 2026 and growth in 2027, although its September update warns of further downside. June Housing Pulse, September housing update

For the remainder of 2026 and into 2027, this means:

• A softer near-term outlook: The bank updates point to continued pressure on property prices, replacing the earlier expectation of broadly rising values. NAB.
• Different conditions between cities: Sydney and Melbourne face the largest forecast declines in CBA’s outlook, although weakness has also spread to Brisbane, Perth and Adelaide. CBA.
• Borrowing costs remain important: The timing and strength of any recovery depend partly on interest rates. CBA’s forecast for modest growth in 2027 assumes rate cuts during that year. CBA.
• More negotiating room for buyers: Westpac reports rising listings and expects buyers to have greater bargaining power in many markets heading into spring. This is an interpretation of market conditions, not a guarantee for individual properties. Westpac.

Conclusion

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