Media Release | Adelaide Median Land Prices Cool As Supply Drought Continues

20 Jul

min read

Content & Social Manager

Lilly Mackay

Media Release | Adelaide Median Land Prices Cool As Supply Drought Continues

20 Jul 2026

min read

After nearly two years of steady rises, the median price of land in Adelaide fell back under $400,000 in the June quarter as supply constraints worsened and a cooling established market dented confidence, according to new research by Oliver Hume Property Group.

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

The research showed the volume of land sales across Adelaide fell nearly 17% to 310 sales, well down on the 545 recorded in the December quarter and 488 in the June quarter last year.

Many areas have recorded a significant drop in sales volumes over the last year, with Adelaide Plains dropping from 22 sales in the June quarter last year to three this year, Gawler dropping from 40 sales to 14, and Port Adelaide Enfield dropping from 19 sales to one. Playford, the highest selling corridor in Adelaide saw sales rise nearly 50% in the June quarter, but remains nearly 20% below the level of sales in the June 2025 quarter.

The median lot price in Adelaide fell 2.6% to $390,500 in the June quarter but retained an annual increase of 15.7%. After overtaking Melbourne in the March quarter, Adelaide’s median price is now back below Melbourne’s ($404,000), which fell 0.2% in the June quarter.

The median price per sqm in Adelaide has surged 15.1% to $1,034 over the last 12 months as more smaller blocks were sold. Melbourne retains the price advantage on a per sqm rate with a median price of $1,113.

Prices rose in three of the five major markets, with Onkaparinga (down 3.1%) and Playford (down 16.2%) the only two markets to record quarter-on-quarter declines in prices. Playford accounts for roughly 65% of all sales in the June quarter.

Median Prices for South Australia – June Quarter 2026*

Municipality	Jun 2025	Mar 2026	Jun 2026	QoQ %	YoY %	QoQ $	YoY $
Gawler	$325,000	$345,250	$380,000	10.1%	16.9%	$34,750	$55,000
Light	$482,000	$388,000	$445,000	14.7%	-7.7%	$57,000	-$37,000
Mount Barker	$419,950	$415,000	$435,000	4.8%	3.6%	$20,000	$15,050
Onkaparinga	$440,000	$521,000	$505,000	-3.1%	14.8%	-$16,000	$65,000
Playford	$339,500	$420,000	$351,800	-16.2%	3.6%	-$68,200	$12,300
Greater Adelaide	$337,500	$401,000	$390,500	-2.6%	15.7%	-$10,500	$53,000

* Selected municipalities. Source: Oliver Hume Research.

Oliver Hume Chief Economist Matt Bell said it was inevitable the excessive price growth experienced in Adelaide over the last two years would come to an end as higher prices put a cap on demand.

“Adelaide has benefitted from very strong demand and not enough supply, but eventually buyers begin to question the value proposition,” he said. “We have also seen the prices for established homes begin to cool as well, which will have an impact on sentiment and demand in the new home market.”

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