- Weekly asking prices stayed flat for the past 10 years, but have increased to $700,000+.
- Adelaide's prestige market starts at $3M to $5M but recent sales are breaking records.
- Giordano & Partners have listed potentially the most expensive home ever sold in the state.
Like the rest of the nation, the Adelaide property market has experienced strong growth since the pandemic began, albeit much lower prices than Sydney or Melbourne.
SQM Research shows that while weekly asking prices for houses were in the $400,000s and early $500,000s for much of the last decade, prices have skyrocketed to more than $700,000.
Greater Adelaide
[Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return]
But, what about the luxury market? Well, prices have skyrocketed too.
“At this stage in Adelaide’s collective property journey, two significant houses that have cracked sales prices of $8,000,000 plus have transacted in recent times. What makes these sales so special are they represent non-traditional sales at historically high prices,” Giordano & Partners Principal Grant Giordano told The Property Tribune.
Mr Giordano said his team were fortunate enough to represent the vendor in a $8,250,000 sale of a property nearly two hours away from Adelaide, a sale which he said “demonstrates attitudes towards lifestyle properties are quickly changing the luxury market.”
“Further to this, we were also able to design, market and sell a House & Land Package for over $8,000,000 and the property wasn’t even yet built.
“Again this sale represents a rapidly diversifying housing market especially when you consider the house & land sale was on less than half the land of the other two landmark sales in an historically less prestigious suburb” he said.
Mr Giordano said he and the team believe a house they currently have on the market in Yatala Vale, 17km from the CBD, will be the next record holder for the state’s highest residential sale.
“Not only does this property support a lifestyle often sought but seldom found; the grand scale of construction makes such an offering irreplaceable in a market where building costs have skyrocketed.”
Grant Giordano, Giordano & Partners Principal
“In essence, the replication for such grandeur, luxury and modernity is no longer attainable financially not to mention the two and half year build time.”
In 2023, Herron Todd White’s (HTW) month in review found that Adelaide’s finest homes saw numbers rise. Over 130 transactions on properties worth over $3 million were recorded across 2022, with 2021 only seeing some 85.
The report noted that Adelaide’s prestige property market typically starts at the $3 million and tops out at $5 million before being known as the ultra-prestige market.
The most expensive house sold in Adelaide in 2022
10 Robe Terrace, Medindie – $9.25 million
The most expensive home in Adelaide for 2022 was on 10 Robe Terrace in Medindie. The property includes some 1,487 square metres of building area, all sat on a (circa) acreage.
Adelaide’s most expensive house for 2022 came with all the trimmings, including an indoor swimming pool and size car garage.
According to realestate.com.au, the property previously sold in May 2022 for an undisclosed amount, and in June 2007 for $2,405,000. According to Domain data, the property was listed for 139 days before its latest sale.
One of the most notable sales from 2022, according to HTW, was 400 Coopers Beach Road in Nalyappa, some two hours drive away from Adelaide, or 175 kilometres.
The property fetched $8.25 million, with some of the enviable features, such as two kilometres of direct beach frontage, a helicopter pad, dune buggy race track, and of course the usual trappings of a swim spa, six bedrooms, and five bathrooms.
The most expensive house sold in Adelaide in 2021
23 Wotuna Terrace, St. George – $6,080,000
The most expensive house sold in Adelaide in 2021 was a four-bedroom, three-bathroom mansion on a 3,772 sqm block in the inner south-east upper-middle-class suburb of St Georges.
The house is located among some of the most elegant homes in the city along a popular promenade, offering a high level of privacy. Along with the pool, the property has a long driveway and tennis court.
The most expensive house sold in Adelaide in 2020
411 Esplanade, Henley Beach – $5,680,000
The most expensive house sold in 2020 was a five-bedroom, three-bathroom beachfront home on the famous Henley Beach.
Located on a 1,443 sqm block, the house itself is a large 1940’s solid brick and rendered two-storey residence, which has been updated over the years. Along with road-free access to the beach, the property has a 30-plus metre frontage. “The European style surroundings include extra-tall sandstone pillared fence, large sandstone paved entertaining, paths, steps, columns & sun lounge area,” the listing said.
Most expensive house sold in Adelaide in 2019
81 Seaview Road, Tennyson
In April of 2019, this seven-bedroom, eight-bathroom home in the north west suburb of Tennyson sold for $5.2 million, by Mr Giordano.
The property has an indoor swimming pool and spa, a three-storey lift, an outfitted home theatre, an 80 sqm multi-purpose room along with three balconies and three courtyards.
Most expensive houses sold in Adelaide in 2018
Northern penthouse at Realm, 9-19 Austin Street, Adelaide
The most expensive house sold in Adelaide in 2018 was actually a penthouse; the northern one at Parallel Property’s Realm development on Austin Street.
The penthouse sold for $5.2 million, making it the most expensive apartment ever sold off-the-plan in Adelaide. The Ellenberg Fraser-designed tower has a range of amenities, including a 25-metre swimming pool outdoor entertaining area and wellness centre.
Most expensive house sold in Adelaide in 2017
20 Fitzroy Terrace, Fitzroy
Sold in June 2017, this six-bedroom, four-bathroom mansion in the inner Adelaide suburb of Fitzroy was the top house sale in the South Australian capital that year, selling for $5.55 million.
Overlooking the North Adelaide Parklands and the CBD, the house sits on a 2,058 sqm block and features a tennis court and sun-bathed heated swimming pool.
Originally built for Sir Josiah Symon, an inaugural senator of South Australia and later the Attorney General, the interiors of the house spans 800 sqm over two levels. The upper floor even accommodates a self-contained nanny suite, and there is a billiard room.
Most expensive house sold in Adelaide in 2016
9 Edwin Terrace, Gilberton
The most expensive Adelaide house of the year was Ivanhoe, at 9 Edwin Terrace, Gilberton, which sold for $7 million in November 2016.
The mansion was built in 1889 and offers 740 sqm of living space across 13 rooms, six of which are bedrooms. The property is set on a 4,346 sqm block with a pool and tennis court. The sale price is above the $6.2 million it transacted for in 2011.
Most expensive house in Adelaide in 2015
44 Church Terrace, Walkerville
Walkervile, just four kilometres north east of the Adelaide city centre, was home to the most expensive house sold in Adelaide in 2015.
44 Church Terrace was sold on 25 September 2015 for $3,588,000. The six-bedroom, seven-bathroom property sits on a large 2,231 sqm block, with the house itself doubling in size since it was originally built.
Most Expensive House in Adelaide in 2014
4 Victoria Avenue, Unley Park
A single-storey four-bedroom, two-bathroom house in Unley Park took out the top spot for the most expensive Adelaidean house sold in 2014, selling for $5.125 million.
This is well above the $2.95 million it was purchased for in May 2004. The stone mansion was originally built in 1912 and has a detached guest house, swimming pool and tennis court.
