Adelaide’s top 10 property sales of 2023 revealed

Adelaide’s property market has kicked some major goals this year, seemingly unmoved by interest rate rises and a cost of living crisis. Here’s the top 10 sales for 2023.

Tom Bowden

@tommyjbowden

2 min read

December 23, 2023 - 12:01AM

News Corp Australia Network

Property

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Adelaide’s prestige property market continued to demonstrate its strength in 2023, with experts saying there is enough momentum in the upper end to indicate it shows no sign of slowing down in 2024.

Selling in February for a whopping $8,501,108, 9 The Avenue, Medindie was the highest sale of the year.

The home sits on an 1858sqm allotment and has four-bedrooms and four-bathrooms.

9 The Avenue, Medindie. Supplied

Jamie Brown of Booth Real Estate. Supplied

Booth Real Estate selling agent Jamie Brown, who sold the property, said demand for prestige property was still strong.

“It performed equally as strong as the previous year, with more commanding sales giving us an even stronger foundation in the top end,” he said.

“The more sales you have at that level the more credentialed it becomes.”

Mr Brown said expat interest in SA’s top-end homes was as strong as he had seen it, but that demand was eclipsed by local buyer interest.

“Adelaide buyers are still setting the pace,” he said.

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While the rest of the market had been affected by recent interest rate rises, Mr Brown said prestige buyers had been immune from them.

“They are totally insulated to any vagaries of interest rates in this segment of the market,” he said.

In second place, 39 Mills Tce at North Adelaide fetched an impressive $7.75m.

The five-bedroom, four bathroom home sits on a 1042sqm allotment and sold in April.

14 St Margaret Drive, Aldgate was the state’s third-highest sale, selling in July for $7m.

The five-bedroom, five-bathroom home on 18.25ha attracted strong interest, with selling agent Arabella Hooper of Harris Real Estate saying she expected the strong demand she is seeing for premium Hills properties to continue into the new year.

14 St Margaret Drive, Aldgate. Supplied.

Arabella Hooper. Pic: supplied.

“Deals are still getting done and they’re still maintaining good levels price-wise,” she said.

“We are still getting interstate interest but primarily most of the movement and demand is coming from within South Australia.

“Demand is still really high – to have that Hills lifestyle is still high up on a lot of people’s lists.”

Ms Hooper said stock levels had picked up, giving buyers more choice.

“In saying that, the numbers are still there and I think the normalisation of the market is what we will see and I think that will continue into 2024,” she said.

“I think the days of ridiculous prices have waned, but people are still paying very well for properties.”

The $6.3m sale of a five-bedroom, four-bathroom home at 66 Church Tce Walkerville, and the $6.2m sale of a five-bedroom home at 16 Wootoona Tce, St Georges rounded out the top five.