House prices continued to grow in Adelaide throughout 2018 despite the overall property market declining by its largest amount since the global financial crisis. Hobart, Canberra and Brisbane also reported positive annual growth of 8.7 per cent, 3.3 per cent, and 0.2 per cent, respectively.
Why did Adelaide perform so well?
One factor that has caused volatility in the eastern states has been high interstate immigration which contributes to fluctuations in demand, which flows through to prices. The same population changes haven't been as pronounced in South Australia. Adelaide has averaged growth of 2.2 per cent per annum reflecting steady and reliable returns for investors over the past decade.
Which suburbs performed best?
1. Woodforde
Annual change in dwelling value: 47.7 per cent
Median house price: $317,500
Council name: Adelaide Hills
2. Virginia
Annual change in dwelling value: 33.3 per cent
Median house price: $282,500
Council name: Playford
3. Greenhill
Annual change in dwelling value: 29.3 per cent
Median house price: $595,000
Council name: Adelaide Hills
4. Dulwich
Annual change in dwelling value: 28.7 per cent
Median house price: $1.3 million
Council name: Burnside
5. Mylor
Annual change in dwelling value: 28.5 per cent
Median house price: $800,000
Council name: Adelaide Hills
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