Fresh property data has reinforced the stability of the Adelaide real estate market.

While home values in Melbourne, Sydney, Brisbane and Perth dipped in recent months, Adelaide has held strong according to latest figures from property market analyst Core Logic.

Dwelling values nationally dropped by 1.6 per cent in the three months to July, with capital-city markets most impacted, showing a 2 per cent decline.

Adelaide properties, however, continued to buck that trend.

Dwelling values here grew by 0.1 per cent for the month, on the back of a 0.2 per cent decline in June. Values were also up 0.3 per cent for the quarter and are up 2.4 per cent compared with the same time last year. They currently sit just 0.1 per cent below the record high we hit in May.

It’s worth noting that the Adelaide market has also recorded sound sales results at most price points, unlike other capital cities where the top end of the market has faced significant challenges.

Latest Core Logic data shows that upper-quartile property values at a national level have been most affected, with Melbourne recording a 5.2 per cent decline since March.

By comparison, dwelling values in the 25th quartile here grew 0.9 per cent from the end of March to July, the 50th quartile showed a 0.6 per cent increase and the upper 75th quartile was equally strong, with a 0.8 per cent rise.

In-house data gathered by the team at Toop&Toop shows similarly robust activity.

Almost 1900 groups attended our property inspections in July, with 28 per cent of them new to the market. June figures displayed a similar trend, when 32 per cent of attendees were added to our database for the first time.

Traffic on the Toop website remains steady, too, with more than 127,000 page views for the month, while our properties achieved almost 4.5 million page views on realestate.com.au, generating 5698 separate inquiries.

Those figures resulted in more than 40 property sales for the month.

Our July auction results were also strong. For example, auctions at Colonel Light Gardens and Hawthorn attracted nine and five registered bidders respectively – and both sold well beyond vendor expectations.

While there are no obvious weak points in the Adelaide market in terms of buyer activity, listing volumes remain below usual expectations.

New listings here are down 6 per cent on the equivalent period last year. Total listings are also down 17.5 per cent.

It’s reasonable to suggest the sparsity of listings is contributing to our relatively steady sales figures.

The national consumer sentiment index, considered a good guide to real estate trends, has started to decline off the back of the resurgence of COVID-19 cases, particularly in Victoria. CoreLogic predict that’s likely to dampen sales volumes in coming months.

While the rate of decline at a national level did appear to steady slightly in the past month, a spike in COVID-19 cases presents significant uncertainty, particularly on the eastern seaboard.

Since Stage 3 lockdowns were introduced in Melbourne, their clearance rate has fallen to 43.8 per cent.

An increase in coronavirus cases in SA would certainly expose the market here to some level of vulnerability.

We continue to advise vendors to consider listing their properties as soon as possible, while conditions remain positive.