Adelaide remains the most consistent yet also the most underrated housing market, according to the latest report from Hotspotting.
The report said the South Australian capital has been consistent with its sales activity and continues to deliver steady price growth.
"It recorded growth in its house prices in 11 of the 12 months of 2020 and overall had a 6% increase in the city’s median price," the report said.
Over the past year, two-thirds of Adelaide locations registered gains, with affordable locations being market leaders.
For instance, suburbs in the City of Playford posted robust gains, with Munno Para reporting the highest growth at 16% to $260,000. Elizabeth Downs followed, with its median price increasing by 11% to $195,000. Dwellings in Andrew Farms also posted an increase in value, up by 8% to $280,000.
Some suburbs in the upper end of the market also clocked price gains, with Norwood striking the strongest growth at 27% to $1.02m. Prices in Toorak Gardens and St. Peters also reported respective gains of 15% to $1.5m and 13% to $1.37m.
"Suburbs recording above average growth in the past year are scattered across the Adelaide metropolitan area, covering a range of price points. So there is enduring strength in the Adelaide market, right across the board," the report said.
