SA’s top property sales of FY22-23
Adelaide’s prestige market shows no signs of slowing down, if these blockbusting sales are anything to go by. Check out the top sales of the past 12 months.
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The state’s hottest real estate markets have been revealed, with the vast majority of SA’s top sales of the 2022-23 financial year found in Adelaide’s leafy fringe suburbs.
According to realestate.com.au and SAILIS records, Adelaide’s most expensive disclosed sale for the financial year was an1880-built renovated character home on 1858 sqm at 9 The Avenue, Medindie.
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The four-bedroom, four-bathroom property with a tennis court and a swimming pool sold for a whopping $8,501,108 in December 2022.
Selling agent Jamie Brown of Booth Real Estate said the home was a hit with buyers.
“There was lots of interest in this one – it was a villa, and most of the $8.5m-$9.5m sales have been mansions, so it’s a whole new benchmark for that bulk and scale,” he said.
“Very good villas in good spots in Adelaide have typically sold for between $5m and $7m, so to get up to more than $8.5 is a whole new echelon and it changed the landscape for villa prices.”
Mr Brown said the interest came from a mix of interstate and local buyers, with the property selling to a local buyer in the end.
“We had numerous offers in the 8s,” he said. “It’s … one of the most beautifully renovated homes I’ve ever seen.”
Meanwhile, in nearby North Adelaide at 39 Mills Tce, a grand renovated 1890-built five-bedroom, four bathroom mansion on a1042 sqm allotment sold in January for $7.75m. It eclipsed the $6.4m sale of a five-bedroom home at 56 Fourth Ave, St Peters, and the $6m sale of a 646 sqm five-bedroom home at 5 Fitzroy Tce, Thorngate.
Williams Real Estate’s John Williams said Adelaide’s prestige market was strong.
“The pricing is as strong as it has been through the Covid period and prices are holding – they’re up about 35 per cent from the start of that Covid period,” he said
“Properties are still selling in two to three weeks and that’s being driven by the complete lack of supply of luxury properties in SA. I’ve been selling for 17 years and I’ve never seen levels as low.
“We’re still getting a lot of interstate and overseas interest – there’s strong demand.”
Properties in near-city suburbs College Park, Adelaide, Unley Park, Mitcham and Netherby dominated the list of top 10 sales. The exception was a former backpacker’s hostel at 1-7 Moseley St, Glenelg.
The top sales of FY 22-23 according to PropTrack and SAILIS
10.
$5,350,000
14 Delamere Ave, Netherby
5 bedrooms, 7 bathrooms, 1490sq m
9
$5,500,000
1-7 Moseley St, Glenelg
22 bedrooms, 10 bathrooms, 895sq m
8.
$5,500,000
21 High St, Unley Park
4 bedrooms, 2 bathrooms, 2 parking spaces
7.
$5,600,000
6 Church Rd, Mitcham
6 bedrooms, 4 bathrooms, 1684sqm
6.
$5,700,000
163 East Tce, Adelaide
4 bedrooms, 3 bathrooms, 2 parking spaces
5.
$5,950,000
16 Marlborough St, College Park
4 bedrooms, 2 bathrooms, 2 parking spaces.
4.
$6,000,000
5 Fitzroy Tce, Thorngate
5 bedrooms, 3 bathrooms, 646sqm of living space
3.
$6,400,000
56 Fourth Ave, St Peters
5 bedrooms, 3 bathrooms, 2407sqm
2.
$7,750,000
39 Mills Tce, North Adelaide
5 bedrooms, 4 bathrooms, 1042sqm.
1.
$8,501,108
9 The Avenue, Medindie
4 bedrooms, 4 bathrooms, 1858sqm.
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