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

A market can keep rising on the annual numbers while losing momentum in real time, and that is exactly where Adelaide now sits. Dwelling values remain 10.5% higher than a year ago, yet a 0.2% fall in July marked the city’s second consecutive monthly decline. With a median dwelling value of $944,909 and prices only 0.4% below their May peak, Adelaide is shifting from rapid growth into a more measured and price-sensitive phase.

Key Takeaways

• Adelaide dwelling values fell 0.2% in July but remained 10.5% higher annually, showing strong past growth alongside weakening short-term momentum.
• The median dwelling value reached $944,909, while the typical house was valued at $1,007,684 and the typical unit at $692,861.
• Values were just 0.4% below their May 2026 peak, despite two consecutive months of decline.
• Units outperformed houses over the year, rising 11.5% compared with 10.3% for houses.
• Annual rental growth remained firm at 5.3%, supporting landlords and yields, although rising affordability pressure may limit further rent increases.
• Sellers should expect more selective buyers, longer negotiations and greater sensitivity to pricing as borrowing constraints continue to weigh on demand.

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 July 2026 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

Look beyond the latest monthly dip and the longer arc remains impressive. Adelaide values increased 10.5% over the year to July and 4.2% during 2026 to date, while the total return from capital growth and rental income reached 14.4%. Over a broader horizon, dwelling values have risen 68.5% in five years and 110.1% in ten years.

Growth has also been widespread across property types. Houses recorded annual gains of 10.3%, while units rose by a stronger 11.5%. Several local markets continued to outperform, led by Campbelltown at 13.5%, followed by Salisbury and Unley at 13.3%, and Onkaparinga and Tea Tree Gully at 13.2%.

Adelaide Property Market Trends

The clearest shift is not a collapse in demand, but a change in bargaining power. Adelaide’s quarterly result remained marginally positive at 0.1%, yet the July decline and downward revisions to earlier results indicate that growth has stalled. Buyers are becoming more cautious as higher mortgage repayments, reduced borrowing capacity and cost-of-living pressure make affordability increasingly important.

Different segments are also beginning to behave differently. Unit values were unchanged in July while house values declined 0.2%, suggesting the more affordable end of the market is holding up better. Adelaide rents increased 5.3% annually, slightly below the national rate, while gross dwelling yields reached 3.5%. Units offered a higher 4.3% yield compared with 3.4% for houses, which may help sustain interest in lower-priced properties.

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

Adelaide Property Market Forecast

Momentum is more likely to cool further than snap back quickly. Adelaide has already recorded two consecutive monthly declines, and the combination of weaker buyer confidence, tighter serviceability and higher household costs points to continued mild softness in the near term. The city’s substantial recent growth may also leave some vendors adjusting their price expectations after several years of unusually strong conditions.

A sharp correction is less clearly supported by the data. Values remain only 0.4% below their peak, while low unemployment, continued population growth, constrained construction and a possible pullback in new listings should place a floor beneath the market. The most likely path is a slower, more uneven market in which well-priced properties continue to transact, but sellers have less scope to push prices above recent comparable sales.

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:

• ANZ predicts a 5-6% increase in capital city property prices in 2024, with Brisbane expected to see the highest rise at 9-10%, Perth property values could go up by 1-11%, Sydney by 4-5%, and Melbourne prices by 2-3%.
• CBA forecasts a 5% rise in capital city prices, with some variations: Brisbane is anticipated to grow by 6%, Melbourne and Perth by 5%, Sydney by 4%, and Adelaide by 1%.
• NAB projects a 5.4% average increase across the capitals, with Brisbane expected to see a 6.5% rise, Perth and Adelaide by 6.2%, Melbourne by 5.5%, Sydney by 5%, and Hobart remaining flat.
• Westpac expects a 6% growth across the combined capitals, with Perth leading at 10%, followed by Brisbane at 8%, Sydney at 6%, Adelaide at 4%, and Melbourne at 3%

Oxford Economics recently released property forecasts predicting where house prices will be in three years.

Conclusion

Adelaide’s property market is shifting into a more measured phase, with affordability pressures and cautious buyer sentiment tempering activity. Even so, limited housing supply, steady rental demand and ongoing interest in well-located, affordable homes should continue to support the market. Sellers who price accurately and present their property well remain best placed to achieve a strong result.

Next steps: