According to the PropTrack Price Index, both house and unit prices have seen an increase of 0.51% and 0.16% respectively, reaching median values of 748,000 Australian dollars and 525,000 Australian dollars.

Despite the slowing growth rate, the prices have only managed to reach pre-pandemic levels. House prices have risen by 8.81% or 60,563 Australian dollars since the beginning of the year, while unit prices have increased by 8.46% or 40,951 Australian dollars.

Furthermore, there is an increased supply of existing housing stock in the market, providing homebuyers with more opportunities for choice. It is expected that the market will rapidly pick up pace post-Christmas and the New Year.

Eleanor Creagh, Senior Economist at PropTrack and the report's author, believes that Adelaide remains one of the best-performing markets in the country. Relatively affordable housing prices have shielded Adelaide from the impact of rapid interest rate hikes. Additionally, low inventory levels have intensified competition, further propelling the rise in Adelaide's property prices.

For residents of Adelaide, these surging property prices may impact their homebuying plans. However, for investors, this upward trend is seen as a positive signal.

Meanwhile, the latest rankings for the most livable cities were released by the Australian News Group, voted by local residents, showcasing the top ten most popular cities in the country. Subiaco in Western Australia secured the first position with a score of 81, while Lane Cove in New South Wales claimed the second spot with a score of 79. Although Adelaide did not make it to the top ten, it remains one of the highly livable cities nationwide.