Adelaide has claimed the title of Australia’s fastest-moving property market, with homes selling quicker than in any other capital city.
New PropTrack data shows houses across Greater Adelaide spent a median of 22 days on market, while units sat at 23 days, both figures lower than any other capital.
The ACT came closest for houses at 25 days, though its unit market told a different story, with properties languishing for a median of 49 days.
Across Australia more broadly, homes typically spend around 32 days on market, meaning Adelaide properties are selling roughly 10 days faster than the national average.
Other major markets such as Sydney, Melbourne and Brisbane are also moving more slowly, with homes generally spending closer to a month on the market before securing a buyer.
At a suburb level, some Adelaide areas are moving even faster.
Units in Blackwood and houses in Bridgewater both recorded a median of just 14 days on market, with more than a dozen other suburbs sitting at 15 or 16 days.
Bridgewater has a median house price of $1.06 million, while nearby Adelaide Hills suburbs Aldgate and Stirling sit at $1.625 million and $1.71 million respectively.
The rapid pace of sales comes on the back of strong price growth across the city.
Adelaide’s median house price is now approaching $1 million after rising more than 12 per cent over the past year, while unit values have climbed even faster, increasing more than 14 per cent to around $680,000.
Over the past five years, dwelling prices in Adelaide have surged by roughly 90 per cent, transforming what was once considered one of Australia’s most affordable capital city markets.
Despite that growth, Adelaide still remains significantly cheaper than larger capitals such as Sydney, where median house prices exceed $1.25 million.
That relative affordability has helped attract both interstate buyers and investors looking for stronger yields and lower entry prices compared with Australia’s eastern seaboard markets.
Real Estate Institute of South Australia chief executive Andrea Heading said the speed of sales reflected ongoing supply constraints across the market.
“It’s definitely supply versus demand,” she told realestate.com.au.
“What we’ve seen is that there has been an accelerated buying cycle. Homes are selling quicker than what they have in the past, definitely, and that’s because in many instances they’re snapped up as soon as they come on the market.”
Listing volumes have also played a role, down about 10 per cent year-on-year, tightening the available pool of homes and intensifying competition among buyers.
Ms Heading said that auction clearance rates remained high, with many prospective buyers, particularly first-home buyers, feeling pressure to act quickly to secure a property.
“The time to buy is now because prices will continue to rise,” she said.
