CoreLogic’s latest monthly housing chart pack shows dwelling values in regional South Australia grew 13.2 per cent in the 12 months to February 2023.

The growth is well above the combined nationwide regional average of -4.2 per cent and the nationwide average of -7.9 per cent.

It is also well above the second-fastest growing market, regional Northern Territory, which recorded growth of 5.6 per cent over the last 12 months.

National dwelling value changes over the last 12 months. Chart: CoreLogic

However, median house prices in regional SA remain the lowest of the regional markets.

According to CoreLogic’s February home value index, the median dwelling value in regional SA was $358,258, below regional Western Australia ($423,045) and regional Tasmania ($503,805).

The national combined regional median price is $575,916. Regional New South Wales has the highest regional median at $684,764.

Over the last three months, dwelling value growth in regional South Australia has been a more modest 1.6 per cent, behind regional Northern Territory’s 2.3 per cent growth.

Meanwhile, Adelaide also defied the national downward trend to record the biggest dwelling value increase of Australia’s capital cities over the last 12 months.

Adelaide dwelling values grew 5.1 per cent – one of only three capital city markets, alongside Darwin (2.9 per cent) and Perth (2.4 per cent), to grow over this period.

Adelaide dwelling value statistics. Chart: CoreLogic

The nationwide average across the capitals was a value decline of 9.1 per cent, with Sydney (-13.4 per cent), Hobart (-11.8 per cent) and Melbourne (-9.6 per cent) leading the downward trend.

Over the last three months, residential property values in Adelaide have started declining again (-1.4 per cent) in line with drops observed across the rest of Australia’s capitals.

Adelaide dwelling values also recorded a -0.2 per cent decline in February.