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Demand for Adelaide homes hits ‘crazy’ levels with buyers desperate to not miss out



Aerial view of Adelaide in Australia

Metro Adelaide’s property market is kicking major goals. Supplied.

Adelaide property prices are surging at a faster rate than every other mainland state capital as buyers seek to make the most of record-low interest rates.

The city’s combined median house and unit prices jumped 7.3 per cent in the past 12 months, to $478,587.

That was nearly three times the 2.6 per cent combined rate for all capital cities, according to Core Logic’s latest Hedonic Home Value report.

Adelaide buyers are racing to secure properties, which is driving up house prices and the cost of renting.

LJ Hooker Kensington/Unley agent Chrissy Esau recently sold a home in Halifax St, city, prior to auction after her vendors accepted an offer more than 20 per…

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