Adelaide’s residential property market in 2023 has again proven to provide curious and intriguing results. The year has been marked by frequent rate rises, persistent inflation and an ongoing housing-affordability crisis. All of this is underlined by a noticeable under-supply in housing (as evident in low sales volumes). A shortage of tradespeople and stubbornly high material costs further highlight the affordability challenges. All of these factors have accumulated to push property value growth right across metropolitan Adelaide, and by the end of 2023 we now have our highest ever median sales value (above $735,000).