With the new model year just around the corner, the sale of new cars is on the rise in Adelaide.
In the city, the average price of a new car has risen almost 25 per cent since March to an average of $2,865.
However, the price of new vehicles has fallen by more than half since March, when it was at $2.3 million.
In the past year, the Adelaide median household income has increased by almost $1,500.
The most expensive new car was the $2 million Porsche Cayenne Turbo, which was sold for $1.5 million at the Adelaide Grand Prix last weekend.
The car was also the second-most expensive car sold in Adelaide, at $1 million.
The median household age in Adelaide is 27, and it’s the first time that the median age of the city’s population has dropped below 30 since 2007.
The average price for a new vehicle in Adelaide has dropped from $2 to $1million over the past two years.
The city’s median age is now 27.