Adelaide’s million-dollar suburbs: Find out if your suburb is among the new entrants in 2022

The booming housing market in Adelaide means 69 suburbs now boast a median house price of $1m or more – and we've listed them all.

They say a rising tide lifts all boats, and the rising house prices across the country’s capital cities have had more than a ripple effect in Adelaide.

As of January 31, 2022, Adelaide’s median house value sits at $584,629, up 29.5 per cent in past 12 months, according to REA data.

The data, which takes into consideration sales for the 12 months to the end of January 2022, reports that Adelaide now has 69 suburbs with a median house price of $1million or more.

Same time last year, there were 30 suburbs with a $1million or more median house price. January 2020 recorded a total of 23 suburbs in the million-dollar club.

Since October 2021, 14 suburbs have recorded a significant increase in their median house value and are the newest to join the million-dollar suburbs.

From the city fringe to the Adelaide Hills, the new suburbs in the list are spread all across Adelaide.

Located to the inner-south of Adelaide, Colonel Light Gardens has recorded a 14.2 per cent rise in its median house price in the last 12 months, and now boasts a median house price of $1,020,000, the REA data shows.

It is trailed by Everard Park in Adelaide’s south-west with a median house price of $1m.

Known for its beautiful properties in serene settings, Stirling leads the way in the hills with a median house price of $1,043,000.

According to the data, the most valuable suburb is Medindie at more than $2.3m.

Turner Real Estate’s managing director Lachlan Turner agreed that Adelaide has experienced “historic growth” in the last 18 months.

“If you are a property owner in the current market, this is good news and the perfect time to sell,” Mr Turner said.

“On the other side of the coin, it’s not so good for people who are keen to buy a home.

“I think the price growth that we have seen until now will remain in the market. Many buyers think Adelaide house prices will go back to previous years, but I don’t think so.

“We will see more suburbs join the $1m club but that march will be slower this year.”

Nationally, the last two years have recorded some of the biggest house price growths in history, according to REA economist Angus Moore.

“House prices have risen because housing is the largest asset type for most Australians,” Mr Moore said.

And sellers are wasting no time in the new year as the number of properties listed for sale on realestate.com.au in Adelaide has jumped 49.4 per cent month-on-month in January, REA data reports.

NEWCOMERS TO SA’S MILLION-DOLLAR CLUB*

(Suburb, Median house value)

Everard Park, $1,000,000

Colonel Light Gardens, $1,020,000

Stirling, $1,043,000

Frewville, $1,045,000

Gilberton, $1,050,000

Stepney, $1,070,000

Mount Osmond, $1,085,000

Kingston Park, $1,100,000

Collinswood, $1,115,000

Erindale, $1,364,000

Royston Park, $1,372,500

Wayville, $1,375,000

Joslin,$1,400,000

Leabrook, $1,425,000

*since October 2021

Source: REA data