According to the latest NAB Residential Property Survey, Adelaide house prices are expected to increase 1.7 per cent in 2019, the equal highest forecast growth with Hobart.
It would take house prices to a median of $461,718 — up from $454,000.
While Adelaide’s predicted 1.7 per cent growth is modest, it is still significantly ahead of the forecast average for combined capital cities – showing a drop of 0.1 per cent.
It is also up 0.2 per cent on the 1.5 per cent growth forecast last year.
Sydney’s once-booming market, meanwhile, is predicted to slow even further to negative 0.7 per cent and Melbourne’s to slip by 0.1 per cent.
NAB South Australia General Manager, Gregg Harris said modest house price growth and a strengthening rental sector were driving SA’s market demand.
“Our research shows that confidence in the South Australian residential property market over the next year has lifted, while confidence over the longer-term is also strong,” he said.
New market data released by CoreLogic shows Adelaide’s million dollar club has grown substantially over the past year, with predominantly eastern hotspots among the 32 suburbs now recording a median house price of at least $1 million.
