- Adelaide's highest median prices are half that of Melbourne, and a third of Sydney's
- Many suburbs were in the northeastern cluster close to the Botanic Gardens
- Adelaide Hills and beachside suburbs also made the list
Adelaide, also known as the city of churches, is famed for the Barossa Valley, McLaren Vale, and one of the few spots you can go cage diving with sharks, albeit that one is a little further afield than Adelaide.
Also known for pronouncing “dance” a little differently and for being free settlers, the capital city of South Australia is home to some of the most affordable, accessible, and sublime leafy green suburbs around. Median prices for the city are also enticingly low, some of the highest medians for the city are only half the median prices of top Melbourne and Brisbane suburbs, and around one-third that of Sydney.
Adelaide
Slightly different to median prices, the average asking prices for Adelaide have recently been on a sharp rise, houses going for almost $760,000, with units around $360,000, according to SQM Research data.
Asking prices were on a gradual rise in the years prior to the pandemic, but as of 2021, Adelaide house prices have been making significant rises.
In 2014, Adelaide house prices rose from an average of $477,000 to $486,000, with the southern capital finishing up 2015 at $490,000. Adelaide prices finished 2016 with an average of $500,000, saw out 2017 with an average of $526,000, 2018 was $516,000, 2019 $521,000, and 2020 $536,000.
As of 2021, prices rose dramatically, breaking with the $10,000 or $20,000 year-on-year rises and falls. The first ten thousand came by around May 2021, with another price rise coming around July. Adelaide saw property prices add some $10,000 a month across the remainder of 2021 and most of 2022.
Adelaide was also in the world’s top ten for house price rises, a Knight Frank report released late last year ranked the world’s cities for how much prices rose, with Adelaide taking eighth spot, up 21.3%. Adelaide was beaten by places like Istanbul, Miami, and Riyadh.
Not only is Adelaide a formidable, world-class city, but it was also ranked one of the top in the world for livability, as ranked by The Economist in 2021.
It also comes as no surprise that major players are also setting their gaze on Adelaide, Canstar’s Rising Stars Report, powered by Hotspotting, put Adelaide at the top of its best city and region to buy in for 2023, beating 14 other jurisdictions including the state capitals, and regional areas. The cities or regions to buy in 2022 ranked Adelaide in ninth, a major leap for the South Australian capital.
In August 2022, The Property Tribune reported on top first home buyer suburbs, according to National Australia Bank (NAB) data, with the 5114 postcode making the list. It comes as no surprise that the suburbs in the postcode, including: Andrews Farm, Blakeview, Craigmore, Gould Creek, Humbug Scrub, One Tree Hill, Sampson Flat, Smithfield, Smithfield Plains, Uleybury, and Yattalunga, do not feature on the most expensive suburbs list.
Curiously, not all of Adelaide’s most expensive houses called Adelaide’s most expensive suburbs home.
The most expensive house sold in Adelaide in 2021 was located in St George, and while it sits next door to suburbs on the list, including Hazelwood Park and Beaumont, St George, 5064, doesn’t feature on the most expensive suburb list.
Similarly, the most expensive house in Adelaide 2020 was in Henley Beach, again, not on the below list.
Adelaide’s most expensive house in 2019 was situated at 81 Seaview Road in Tennyson, ranked twelfth on the list below.
In 2018, the most expensive property in Adelaide was located in Adelaide, 5000, with 2017’s most expensive property located in Adelaide’s Fitzroy, fifth place in Adelaide’s most expensive suburbs. A Gilberton mansion took out the title in 2016, a suburb not in the below list, but 2015 saw a house in Walkerville take out the top gong.
You can also discover the most expensive suburbs for Sydney, Melbourne, Brisbane, and Gold Coast, click on the city to take you there.
Top 20 Most Expensive Suburbs in Adelaide
- Toorak Gardens
- Unley Park
- College Park
- Malvern
- Fitzroy
- Medindie
- Millswood
- Dulwich
- Kingswood
- Ashton
- St Peters
- Tennyson
- Walkerville
- Hackney
- Hazelwood Park
- Royston Park
- Beaumont
- Kensington Gardens
- Springfield
- Kensington Park
Toorak Gardens, 5065
The leafy green suburb is located just outside the main Adelaide CBD and adjacent to eighth place Dulwich.
East of the Adelaide CBD, Toorak Gardens has a median house price of $2,254,700, with SQM’s weekly asking prices reaching $1.7 million in December last year (the asking price is for postcode 5065, which includes other suburbs).
The suburb is bound mostly by main roads, including to the north by Kensington Road, to the South by the B26 or Greenhill Road and to the east is Portrush Road or the A17; Prescott Terrace is on the western border of Toorak Gardens.
Unley Park, 5061
Located to the south of Adelaide’s CBD, the suburb is close to fourth place Malvern and seventh place Millswood. Unley Park sits north of Cross Road (A3) and is between Unley Park and Millswood train stations.
Brown Hill Creek also runs through the suburb, yet another beautifully leafy green suburb.
Unley Park has a median house price of $2,034,300, with SQM data showing house prices as high as $2.1 million in December.
The suburb is also known for having Adelaide’s wealthiest street.
College Park, 5069
The median house price is $2,019,600, with weekly asking prices around $1.3 million, again the weekly asking price includes data from other suburbs under the postcode 5069.
The suburb surrounds St Peter’s College, and is a stones throw from Adelaide institutions like the Adelaide Zoo, Adelaide Botanic Park, The University of Adelaide, and more.
College Park easily accesses the Adelaide CBD via the A11 Payneham Road, but sits just outside of the Adelaide tram network, with the eastern terminus a tad further down the road at the Botanic Gardens.
Malvern, 5061
Adjacent to the second-placed Unley Park, Malvern has a median house price of $1,964,000. Asking prices were as high as $2.1 million in November last year.
The suburb is renowned for being a picturesque place, desirable for starting a family, and with enviable access to some of Adelaide’s top schools, best shops, and more.
Fitzroy, 5082
Fitzroy is also an affluent suburb in Adelaide, located some 4 kilometres north of the Adelaide CBD, and borders North Adelaide.
The suburb has a median house price of $1.9 million, with asking prices floating around the $1 million mark for the postcode 5082, which includes some five other suburbs.
Fitzroy sits next to the Adelaide Park Lands, and is also home to numerous 19th century multi-storey mansions.
Nearby amenities include The Adelaide Aquatic Centre, North Adelaide Dog Park, and more.
Medindie, 5081
Just to the east of Fitzroy, Medindie is also north of the Adelaide CBD, and sits on the fringe of North Adelaide.
Median house prices for Medindie are around $1,886,400, with asking prices floating around the $1.1 million mark in recent times.
Do a Google Image search for the suburb and only mansions turn up. From old Victorian and European-styled mansions to modern masterpieces, Medindie has a mansion to cater to your taste.
Millswood, 5034
Homes in the suburb of Millswood are seeing a median of around $1.8 million, with weekly asking prices for the affluent suburb floating around $1.1 to $1.2 million. Prices saw a high point late last year, as high as around $1.3 to $1.4 million for weekly asking prices.
Locate south of the Adelaide CBD and close to Unley Park and Malvern, the suburb has great public transport accessibility, unlike most other high-end suburbs. Both Clarence Park and Millswood Stations are either in the suburb of close by; the suburb is where the Seaford & Flinders line and Belair line both converge to head into Adelaide City.
Dulwich, 5065
The median price for Dulwich is $1,796,400, with asking prices around the mid $1.5 millions.
It is the same postcode as Toorak Gardens, and sits to the west of the number one ranked suburb.
Dulwich is bordered on the east by Toorak Gardens, and to the west by Victoria Park and the Adelaide CBD.
The suburb is home to a selection of stylish and upmarket shops, popular cafes, and is one of Adelaide’s most desirable suburbs.
Dulwich Bakery is also a local institution, dishing out an award-winning vanilla slice, the accolade wone at the Royal Adelaide Show several times.
Kingswood, 5062
Six kilometres south of the Adelaide CBD, Kingswood has a median house price of $1,766,300, and an asking price around the $1.1 million to $1.3 million mark.
Close to the Mitcham train station, the suburb is south of fourth-ranked Malvern and Unley Park.
Ashton, 5137
Located almost 20 kilometres east of the Adelaide CBD in the Adelaide Hills, Ashton is home to many vineyards and orchards producing crops including cherries, apples, lemons, pears, and many other fruits and vegetables.
The median house price for homes in Ashton is $1,762,000, with weekly asking prices varying wildly between $1 million to $2.5 million. The number of houses available for sale in Ashton per month has never hit double digits over the past decade, with two exceptions being 11 homes on market in November 2011, and 11 in December 2012. Since 2016, the number of houses for sale has never reached over five. Again, this is for the postcode 5137, which also includes Marble Hill.
5137
Sold properties over 2022 include one in November for $700,000, with the remainder for 2022 either above $2 million, undisclosed, or close enough at $1.85 million.
St Peters, 5069
The suburb is one of Adelaide’s most prestigious and exclusive suburbs, with the suburb home to the eponymous St Peter’s College, an Anglican school in Adelaide that recently celebrated its 175th anniversary. The college has a prestigious list of alumni who have won Nobel Prizes, and Rhodes Scholarships, become Premiers, and more.
St Peters is to the east of College Park and the Adelaide CBD, along with other landmarks like the Botanic Park.
The median price for houses in St Peters is $1,760,600.
Tennyson, 5022
Also with a median house price of $1,760,600, Tennyson is a beachside suburb, well north of Henley and Glenelg Beaches. Asking prices have ben on the up, with a recent high of around $1.3 million.
Another exclusive suburb, Tennyson occupies a thin strip up and down the coast just north of Grange Beach and south of Semaphore Park.
Walkerville, 5081
With a median price of $1,735,400, Walkerville is northeast of the Adelaide CBD, and north of St Peters.
The suburb is bordered on the south by the River Torrens and is known for being home to many historic buildings, including St Andrew’s Anglican Church.
Hackney, 5069
For a median price of $1,716,600, Hackney is a short 10 minute walk away from Adelaide’s CBD. The suburb is mostly comprised of St Peters College, with a retirement village on the western fringe of the suburb. Hackney is also home to a caravan park and other amenities.
Hackney also borders Adelaide Park Lands and the Botanic Gardens, with the asking prices around $1.3 million.
Hazelwood Park, 5066
At a discount of some $4,000, the median price for Hazelwood Park is $1,712,000. The suburb is located between the Adelaide CBD and the Adelaide Hills, close to Burnside and Beaumont, the latter featuring seventeenth on this list.
A large portion of the suburb is comprised of Hazelwood Park itself, within which sits the George Bolton Swimming Centre.
The suburb is known for having larger blocks, and is regarded as an upper class suburb.
Asking prices for the postcode 5066 hit February 2022 highs of $1.8 million and are currently floating around $1.5 million.
Royston Park, 5070
Another suburb located within the northeastern cluster of prestigious and exclusive suburbs including St Peters, Walkerville, College Park, and Hackney, is Royston Park. A little further out than the above-mentioned suburbs, Royston Park has a median price of $1.71 million, and asking prices around the $1 million mark.
Beaumont, 5066
Median prices for the Adelaide suburb are just a touch over $1.7 million at $1,702,300.
The suburb is just south of Hazelwood Park, another suburb on this list, both of which are located in close proximity to the Adelaide Hills.
Asking prices for the postcode 5066, according to SQM, ticked over $1 million late in 2022, but has since dropped back to the mid $850,000’s.
Kensington Gardens, 5068
The suburb has a median house price of $1,694,400, with a large park taking up circa one quarter of the suburb.
Kensington Gardens is east of Kensington Park, and just west of the Penfolds Magill Estate Cellar Door, a popular tourist destination for both wine and fine dining.
The suburb is also between the Adelaide CBD and the Adelaide Hills, more so to the side of the hills.
Springfield, 5062
Located on the fringes of Adelaide and home to historic landmarks like Carrick Hill, the suburb of Springfield takes nineteenth place on the list for most expensive suburbs in Adelaide.
Median house prices come in at $1,673,000, with SQM data showing asking prices for the post code of 5062 to be in excess of $1.2 million over the past few months.
Kensington Park, 5068
The median price for this suburb is $1,655,700, with the small suburb known for having great amenities and located close to main roads leading into the Adelaide CBD including Kensington Road and Magill Road.
