Media Release | Adelaide Median Land Price Surges Past Melbourne

30 Apr

min read

National Head of Corporate Marketing & Communications

Mitchy Koper

Media Release | Adelaide Median Land Price Surges Past Melbourne

30 Apr 2026

min read

Adelaide’s median land prices rose 11.3% in the March quarter and 30.9% for the 12 months to the end of March.
Adelaide’s median price ($417,500) has surpassed Melbourne’s ($406,000) for the first time, but lags South East Queensland’s ($543,400) by 23%.
Sales volumes fell heavily in key corridors like Playford and Onkaparinga, was steady in Mount Barker and only rose in Light.

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Adelaide land prices continued to surge in the March quarter as supply constraints limited the amount of land available and increased competition for available stock, according to new research by Oliver Hume Property Group.

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Oliver Hume today released its latest quarterly sales and price data for the March quarter, which analyses thousands of land sales across key markets in Melbourne, South East Queensland and Adelaide.

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The research showed the volume of land sales across Adelaide fell more than 30% to 373 sales, compared to 545 in the December quarter and 269 in the March quarter last year.

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Many areas have recorded a significant drop in sales volumes over the last year, with Adelaide Plains dropping from 24 sales in the March quarter last year to one this year, Gawler dropping from 28 sales to zero, and Port Adelaide Enfield dropping from 13 sales to three.

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The median lot price in Adelaide increased 11.3% to $417,500 in the March quarter and has added nearly $100,000 over the last 12 months to overtake Melbourne ($406,000) for the first time.

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The median price per sqm in Adelaide has surged 43.5% to $953 over the last 12 months, despite a 3.9% decline in the March quarter as more smaller blocks were sold. Melbourne retains the price advantage on a per sqm rate with a median price of $1,057.

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Line chart showing land prices in Melbourne and Adelaide from September 2021 to March 2026. Melbourne land prices rise gradually from about $335,000 to around $406,000, while Adelaide shows stronger growth, increasing from roughly $180,000 to $417,500 and overtaking Melbourne by March 2026. — Source: Oliver Hume Research

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Prices rose in every corridor except Playford where the median price fell 7% in the quarter to be down 7% annually. The Oliver Hume data shows Playford ($319,990) and Light ($378,000) were the most affordable regions for new land in the December quarter.

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Median Prices – South Australia March Quarter 2026*

Municipality	Dec-24	Sep-25	Dec-25	QoQ %	YoY %	QoQ $	YoY $
Light	$305,000	$370,000	$378,000	2.2%	23.9%	$8,000	$73,000
Mount Barker	$407,000	$392,500	$395,000	0.6%	-2.9%	$2,500	-$12,000
Onkaparinga	$461,500	$345,000	$492,500	42.8%	6.7%	$147,500	$31,000
Playford	$345,000	$345,000	$319,990	-7.2%	-7.2%	-$25,010	-$25,010
Greater Adelaide	$318,850	$375,000	$417,500	11.3%	30.9%	$42,500	$98,650

*Selected Municipalities. Source: Oliver Hume Research.

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Oliver Hume Chief Economist Matt Bell said Adelaide’s continued price growth reflected increased demand and ongoing supply constraints.

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“Like many capital city land markets in Australia at the moment, Adelaide is feeling the impact of very strong demand and not enough supply,” he said.

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“Sales volumes fell heavily in key corridors like Playford and Onkaparinga to be down 32% for the quarter (although still 40% higher than the March 2025 quarter). The decreased sales reflect a lack of new product coming to market rather than a dearth of buyers.”

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