The areas that saw the largest declines were some of Adelaide ’ s most expensive suburbs . Despite this , if you ’ re looking for a bargain in Burnside , you better get in quick . Since last year , prices have fallen by almost $ 80,000 . However , since December , they ’ ve increased by almost $ 32,000 . At the cheaper end of the market , prices have continued to increase . The strongest performer has been Playford which has seen prices increase by almost $ 22,000 since last year .
Adelaide has become far more expensive through COVID , however it remains an affordable city and this is one of its strengths . The median is less than half that of Sydney . In addition , it ’ s been named as one of the most liveable cities in the world by the Economist Intelligence Unit . Strong economic growth through the pandemic was driven by strong agricultural conditions . This is now slowing , however , international students are back and this is driving both economic growth and housing . There are still a lot of challenges in housing markets , particularly high interest rates , but this is likely to be balanced by other factors in 2023 .
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