The South Australian Valuer General’s data for the 2017 December quarter, shows a record median price for Adelaide of $465,000, an almost 10 per cent increase from the previous quarter.

In the December quarter, 4,395 houses sold across the Adelaide metropolitan area, and 5, 821 across the state - both numbers significant increases from the previous quarter.

REISA President, Alex Ouwens said, “What a fantastic way to have closed the year."

"It is also fantastic to see that sales have picked up across all sectors of metropolitan Adelaide, as well as the whole state," said Ouwens.

"These figures are pleasing and we expect a similar growth path for the rest of 2018, and interstate investor interest is at an all-time high."

Suburbs which have seen the largest growth over a 12 month period were:

• Colonel Light Gardens,
• Seacliff Park,
• Walkley Heights,
• Beaumont,
• Port Noarlunga, and
• Blackwood.

Top selling suburbs in terms of recorded sales over the December quarter were:

• the unstoppable Morphett Vale, and
• Aldinga Beach,
• Mawson Lakes,
• Paralowie,
• Hallett Cove, and
• Happy Valley.

Sales of units and apartments were also up across metropolitan Adelaide – rising 10 per cent from the previous quarter.

"I am chuffed at these results. A record median price and a significant upswing in sales volumes clearly demonstrate the underlying strength and resilience of the South Australian real estate sector," concluded Ouwens.

Government policy must encourage investment in property, says Ouwens

Ouwens also expressed the REISA's concerns about stamp duty, land tax, and other housing affordability matters.

"There has to be a system in place that encourages home ownership fluidity – not strangles it," Ouwens said.

"We look forward to some active and robust discussion on these important issues," he said.

Regional South Australia

The Valuer General’s report showed that for regional South Australia the median house price for the December 2017 quarter was $260,000, slightly down from the previous quarter and the same period last year.

Importantly, sales volumes were up more than 10 per cent from the previous quarter, and up 15 per cent from the same quarter last year.

“It is great to see that sales volumes are significantly up in regional South Australia," said Ouwens.

The regional centres that enjoyed the strongest growth were:

• Renmark (41.16 per cent),
• Berri (11.76 per cent), and
• Port Lincoln (10.80 per cent).

Top selling suburbs for number of sales in the December quarter were the perennial top three:

• Mount Gambier,
• Victor Harbor, and
• Murray Bridge.

Read more about South Australia real estate:

Property in Adelaide's coastal markets "doesn't hang around too long": Rhys Digance, Belle Property Glenelg

SA increase in foreign levy not deterring buyers: Rob Mitchell, Ouwens Casserly

Mining and infrastructure to create South Australian property gold in 2018