Adelaide's housing market is defying national trends with a 4.8% increase in median house prices during the June quarter of 2026. According to Domain's latest House Price Report, the median house price in Adelaide has reached a record $1.125 million, up from $970,165 a year earlier.

This growth rate was the fastest among Australia's capital cities over the past quarter. Dr Nicola Powell, chief of research and economics for Domain, told 891 ABC Adelaide that Adelaide was "bucking the national trend." She noted, "We saw an acceleration in house price growth, with momentum strengthening both over the quarter and over the year, and that is not what we've seen in other capital cities."

Dr Powell attributed fluctuations in price changes across Australia to increased housing supply but highlighted that Adelaide's tight rental market is a key factor driving quicker demand for purchasing homes. "Adelaide also still has one of the tightest rental markets in Australia, and that has flow-on effects also to pushing demand quicker into purchasing," she said.

Local real estate agent Mr McRostie commented on the current market conditions, stating, "The numbers are less, so now, you've got some nice properties, you've got to price them properly, you've got to be prepared to adjust them, and you've got to work hard with the buyer."

However, there are expectations that this rapid growth may not continue indefinitely. "What I'm expecting is that a 5 per cent increase each quarter is not sustainable and I think what we will see is higher borrowing costs will start to help to slow down the pace of price growth," Dr Powell added.

Residents have noticed the market activity firsthand. One local said, "I live in the area, I saw this open, and thought I would pop in and have a look," adding, "I thought there would be more than just myself."

Adelaide's rise to the fourth most expensive capital city for housing reflects unique local market dynamics amid a broader national context of fluctuating housing prices.

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