Top 10 most expensive suburbs in Adelaide: Unley Park claims top spot

These suburbs are home to some of Adelaide's most prestigious and expensive homes.
Recent listings show mansions for sale at up to $3 million.
Common features include pools, with tennis courts a rarity.

The most expensive suburbs in Adelaide range between $1.4 million to $1.8 million, according to PropTrack’s automated valuation model (AVM)* covering houses and units combined.

Dare one call it affordable luxury, the richest suburbs in Adelaide are significantly lower priced than its prestige Sydney and Melburnian counterparts which are typically within the order of high-seven to eight figures. What that number is – true to luxury form, if you have to ask, you probably can’t afford it.

Having said that the broader Adelaide property market has been no slouch since Covid struck, the historically two or so per cent price rise trend was left in the dust when Adelaide house prices leapt from just over $520,000 in March 2020 to a hair under $840,000.

Adelaide weekly asking property prices

Across various home value indices, Adelaide typically came out on top, or in the top two, for home price growth across recent times.

Adelaide also lends itself to a rich and meaningful lifestyle, and not just in financial terms. The city was ranked by The Economist in 2021 as one of the top in the world for livability.

Top 10 most expensive suburbs in Adelaide

Rank	Suburb	Current AVM
1	Unley Park	$1,849,000
2	Malvern	$1,692,000
3	Erindale	$1,683,000
4	St Georges	$1,631,000
5	Millswood	$1,624,000
6	Beaumont	$1,604,000
7	St Peters	$1,541,000
8	Joslin	$1,485,000
9	Stonyfell	$1,474,000
10	Glen Osmond	$1,467,000

Source: PropTrack.

Unley Park is Adelaide’s most expensive suburb

Located south of the Adelaide CBD, Unley Park was ranked as Adelaide’s richest suburb.

Glancing over listings on Domain and realestate.com.au, some of the most expensive properties currently listed in the area (with price tags) are in the high-$2 million to $3 million range.

Many homes are beautiful period style homes, situated on plots typically over 700 square metres, with the upper end typically on quarter acre blocks.

According to SQM Research data, for the week ending 2 January 2024, the postcode 5061, which includes Unley Park, saw a rolling monthly rise in all house prices of 14.2%, a rolling quarterly rise of 34.4%, and a 12 month fall of 4.7%.

Weekly asking prices for 5061, including Unley Park

Malvern

Not to be confused with Malvern in Melbourne, which is also one of the more prestigious suburbs of Melbourne, Malvern in South Australia is ranked as the second most expensive suburb in Adelaide.

Almost next door to Unley Park, Malvern is located in a cluster of suburbs just south of the Adelaide CBD which is typically home to South Australia’s most expensive suburbs.

Malvern shares the same postcode with Unley Park of 5061, a postcode that also includes the prestigious, rich, and expensive South Australian suburbs of Hyde Park, and Unley.

Weekly asking prices for 5061, including Malvern

Erindale

Located closer to the Adelaide hills, and sharing a postcode with fellow top 10 most expensive South Australian suburb of Stonyfell (5066), the suburb of Erindale is located towards the east of the Adelaide CBD.

Weekly asking prices for the suburb practically went vertical in 2022, with SQM data showing a massive leap in home prices from under $900,000 as the pandemic hit to well over $1.5 million.

Weekly asking prices for 5066, including Erindale

The postcode 5066, including Erindale, saw prices for all houses rise 11.8% for the rolling month, a rolling quarter rise of 20.2%, and a 12 month rise of 32.7%.

St Georges

Also towards the hills, and neighbouring fellow top 10 most expensive Adelaide suburb of Glen Osmond, St Georges is southeast of the Adelaide CBD.

The suburb benefits from many of the amenities from neighbouring suburbs, including Seymour College, Mount Osmond Golf Club, along with easy access to iconic Adelaide destinations such as Mount Lofty.

According to SQM Research, while the rolling month change for the suburb saw a 2.9% rise in house prices, the rolling quarter recorded an eight per cent fall, and the 12 month decline was 15.7%.

Weekly asking prices for 5064, including St Georges

Millswood

The family-friendly and expensive Adelaide suburb of Millswood neighbours Unley Park and is served by the Belair line, including its own Millswood station. The leafy green suburb is also serviced by the Forestville tram stop to the northwest.

Price movement in the suburb has been positive for the month, up 6.8%, with the 12 month change up 4.2%.

Weekly asking prices for 5034, including Millswood

Beaumont

Neighbouring St Georges, one of Adelaide’s richest suburbs of Beaumont borders the hills and has easy access to nature.

Known as a suburb that’s in demand and home to lavish luxury living, the luxurious Adelaide suburb is home to beautiful historic architecture including Beaumont House.

Weekly asking prices for 5066, including Beaumont

St Peters

Close to North Adelaide and on the fringe of the Adelaide CBD, the prestigious Adelaide suburb of St Peters is bordered to the north by the River Torrens.

Amenities include some of Adelaide’s top private schools, along with proximity to many of the amenities of the main Adelaide CBD and North Adelaide.

Price movement for the postcode of 5069, including St Peters, has been less volatile than other top 10 suburbs, with a more gentle upwards trend throughout the pandemic.

Weekly asking prices for 5069, including St Peters

Joslin

Neighbouring St Peters to the northeast, but not sharing a postcode, the prime and expensive Adelaide suburb of Joslin is also bordered by the river to the north.

Like St Peters, price movements have been somewhat less volatile than other top 10 expensive Adelaide suburbs but weekly asking prices have appeared to level off below a late 2022 peak.

Weekly asking prices for 5070, including Joslin