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The Guardian - AU
The Guardian - AU
National
Stephanie Convery

Adelaide home prices could soon surpass Melbourne as Victorian capital slumps

Aerial view of houses in Adelaide
Perth’s property market has seen the strongest annual growth in the country, with a 22.77% increase this year. Photograph: BeyondImages/Getty Images

Adelaide homes may soon be more expensive than Melbourne, with property prices falling in the Victorian capital for the fourth month in a row while prices in Adelaide continue to climb.

Melbourne homes are now worth 4.4% less than they were at their peak in 2022, and fell 0.21% in July, according to PropTrack’s latest report.

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