Adelaide has been Australia’s strongest capital city property market for three consecutive years. Melbourne is recovering from a period of underperformance. In 2026, both cities represent compelling investment opportunities for different reasons. This GeeVee comparison breaks down every metric.
| Metric | Melbourne | Adelaide |
|---|---|---|
| Median House Price | $935,000 | $780,000 |
| Median Unit Price | $580,000 | $480,000 |
| Gross Yield (House) | 3.2% | 4.4% |
| Gross Yield (Unit) | 4.1% | 5.2% |
| 5-Year Growth | 28% | 68% |
| Vacancy Rate | 1.8% | 0.6% |
| GeeVee Score | 7.4/10 | 8.1/10 |
GeeVee Verdict
Adelaide wins on every metric in 2026 — yield, five-year growth, vacancy rate and entry price. Melbourne wins on market depth, liquidity and long-term population trajectory. Adelaide is the stronger short-term play. Melbourne inner-north is the stronger decade-long hold.
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