Adelaide’s property market has kicked some major goals this year, seemingly unmoved by interest rate rises and a cost of living crisis.
Latest PropTrack data has unveiled the most expensive home sales for the financial year, with a landmark residence in Medindie crowned the top settlement of the past 12 months.
The five bedroom, five bathroom home at 31 Dutton Crt comes with a pool and tennis court and settled for $10m in June, this year.
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The property was sold by John and Stephanie Williams of Williams Real Estate who also facilitated the $8m sale of a 1900-built villa at 5-7 Avenue St, Millswood and the $7.375m of 55 Sheffield St, Malvern.
“Both of those properties sold very quick, in fact they both sold after the first open as they were just that popular,” Mr Williams said.
“We’re finding that the top of the (property market) tree are selling the quickest right now, which is unbelievable for Adelaide. We’re used to be much more conservative.
“People are realising that the top end of the market actually represents real value for money and what used to sell for $5m a few years ago, now sells for $7m to $10m.”
John and Stephanie Williams of Williams Real Estate. Picture: Brad Fleet
Meanwhile, on the opposite end of town, a flagship beachfront property at 19 Cygnet Crt, Glenelg North transacted for $6.987m in March this year.
The impressive three-level property, which was sold by Jamie Brown of Booth Real Estate, included two large marina berths, a 12-metre solar and gas heated lap pool, a sauna, and a wine cellar.
It eclipsed the $6.3m sale of a seven-bedroom estate at 66 Church Tce, Walkerville, the $6.1m sale of 1 Devonshire St, Walkerville and $6.05m sale of 40 Church Tce – also in Walkerville.
“Cygnet Court really has its own planet system but this home is the flagship…and attracted multiple offers,” Mr Brown said.
“The way the home was designed, it captured almost 270 degrees (of views) but the other thing that pushed it with buyers was the privacy if offered.
“Locals are definitely driving demand for these properties, which is a big change to what we saw only a few years ago.”
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PropTrack senior economist Anne Flaherty.
Transaction data shows there were roughly 56,000 sales recorded across SA in the past 12 months, worth a combined total of around $41,854bn.
PropTrack senior economist Anne Flaherty said Adelaide’s top end property market would see further price growth in the year ahead.
“The Adelaide market has been such an outperformer over the past few years and the reason for that is that there is such a shortage of homes, yet there are so many people looking to buy,” she said.
“That’s why we’re seeing so many records broken and we’ll likely to see many more in the future.”
TOP 15 SALES OF FY23-24
*Source: PropTrack
**Data represents sales settled as of June 30, 2024.
1. 31 Dutton Crt, Medindie
5 bed, 5 bath, 5 car
Land size: 2506sqm
Sale price: $10m
2. 5-7 Avenue St, Millswood
5 bed, 3 bath, 2 car
Land size: 3731sqm
Sale price: $8m
3. 21 Whistler Ave, Unley Park
5 bed, 2 bath, 4 car
Land size: 3845sqm
Sale price: $7.65m
21 Whistler Ave, Unley Park
4. 55 Sheffield St, Malvern
5 bed, 4 bath, 5 car
Land size: 3193sqm
Sale price: $7.375m
5. 14 St Margaret Drive, Aldgate
5 bed, 5 bath, 9 car
Land size: 18.25ha
Sale price: $7m
14 St Margaret Drive, Aldgate
6. 19 Cygnet Court, Glenelg North
5 bed, 6 bath, 8 cars
Land size: 660sqm
Sale price: $6.987m
19 Cygnet Court, Glenelg North
7. 66 Church Tce, Walkerville
7 bed, 4 bath, 6 car
Land size: 2400sqm
Sale price: $6.3m
66 Church Tce, Walkerville
8. 1 Devonshire St, Walkerville
5 bed, 5 bath, 3 car
Land size: 2241sqm
Sale price: $6.1m
1 Devonshire St, Walkerville
9. 289 Rangeview Drive, Mount George
5 bed, 3 bath, 5 car
Land size: 9.48ha
Sale price: $6.08m
289 Rangeview Drive, Mount George
10. 40 Church Tce, Walkerville
5 bed, 2 bath, 2 car
Land size: 2670sqm
Sale price: $6.05m
40 Church Tce, Walkerville
11. 10 Whistler Ave, Unley Park
5 bed, 2 bath, 4 car
Land size: 1859sqm
Sale price: $6.025m
10 Whistler Ave, Unley Park
12. 6 Church Rd, Mitcham
6 bed, 4 bath, 4 car
Land size: 1684sqm
Sale price: $6m
13. 23 Stirling St, Tusmore
5 bed, 3 bath, 0 car
Land size: 2068sqm
Sale price: $5.9m
14. 335 Esplanade, Henley Beach
5 bed, 3 car, 6 bath
Land size: 599sqm
Sale price: $5.61m
335 Esplanade, Henley Beach
15. 15 Esplanade, Somerton Park
3 bed, 4 bath, 8 car
Land size: 605sqm
Sale price: $5.6m
15 Esplanade, Somerton Park