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Adelaide house prices have reached record levels, although sales figures remain flat.
According to the Real Estate Institute of South Australia, Adelaide’s median price has climbed by four per cent over the past year. The current median price of $415,000 is a new record.
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President Ted Piteo said it was positive news for the Adelaide market.
“In the 2014 March quarter, the median passed $410,000 for the first time ever, and this quarter the median reached a new watershed of $415,000,” he said.
The fastest-growing suburbs in the city included Glenunga, Gulview Heights and Eden Hills, according to the data.
However, house sales have remained subdued across the capital, with no change over last year’s figures.
In the June quarter, 4,240 houses settled across the Adelaide metropolitan area. Morphett Vale, Aldinga Beach and Paralowie recorded the most sales.
“Affordable suburbs that offer premiums to first home buyers and investors such as infrastructure, quality transport avenues and a life by the sea will always be highly sought after,” Mr Piteo said.
