Expert’s bold prediction for SA’s $1m+ suburbs

Aerial view of Adelaide in Australia

A huge number of Adelaide suburbs now have a median house price of $1m or more. Did yours make the list? Pic: Supplied.


South Australia continues its march towards having 100 suburbs with a million-dollar median, with one agent predicting that number could reach triple figures by the end of the year.

According to realestate.com.au data, there are 84 SA suburbs with a median of more than $1m.

Medindie, on the city’s northern fringe, has the state’s highest median price, notching up an impressive $2.65m from 20 sales over the past 12 months.

Toorak Gardens in Adelaide’s leafy east and Malvern and Unley Park in Adelaide’s inner south all recorded medians of more than $2m.

Looking at the suburbs set to join Adelaide’s million-dollar club, there are 25 with a recorded median between $900,000 and $1m – 13 of them between $950,000 and $1m. Williams Real Estate partner and luxury property specialist Stephanie Williams said the number of million-dollar suburbs would “rapidly increase” in the next 12 months.

“When houses have gone up 25 per cent over the past two years, I would say there could possibly be up to another 50 per cent more million-dollar suburbs over the next 12 months, as the figures start to flow in from the sales that have occurred over the past six months,” she said.

“It’s quite likely we’ll have 100 million-dollar suburbs by the end of the year.”

million dollar suburbs

Williams Real Estate partner Stephanie Williams on Robe Tce in Medindie, the state’s most expensive suburb. Picture: Naomi Jellicoe


Despite a recent PropTrack report forecasting Adelaide house prices would say drop by 3-6 per cent next year, Mrs Williams a lack of supply and continued demand for luxury homes would mean this was unlikely to happen in the top end of the market.

“Stock levels are down 22 per cent on the previous year for the fifth year in a row, and it would be higher than that in the luxury market, it would be closer to 40 per cent down on this time last year,” she said .

“And prices will hold – if all of a sudden the floodgates open, that’s when the impact will be felt.”

Ouwens Casserly Real Estate agent Cynthia Sajkunovic said the prestige market was running hot and had not been impacted by recent interest-rate hikes.

“It’s certainly not discussed with us, and we’re not seeing any impact from interest rates rises among top-end buyers. There aren’t fewer people at opens – if anything there are more,” she said.

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Unley Park was always going to be right up there on the most-expensive list. Ouwens Casserly agent Cynthia Sajkunovic on the suburb’s boulevard of dreams, Victoria Ave, in front of one of the grand homes the suburb is prized for. Picture Dean Martin


“Our biggest challenge is getting enough stock to service the clientele, and this is what’s helping keep prices up.

“There’s still quite a bit of interstate interest around, but they’re not the only ones buying – there’s a lot of wealth in South Australia, particularly among those in the medical field, and there are some really successful business owners out there with a lot to spend and the confidence to do it here.”

EVERY SA SUBURB WITH A $1M+ MEDIAN

Suburb, Number sold in the past 12 months, Median sale price

Medidie 20 $2,625,000

Toorak Gardens 41 $2,105,000

malvern 42 $2,068,000

Unley Park 16 $2,010,000

tusmore 14 $1,876,000

Hyde Park 29 $1,810,000

St Peters 44 $1,795,000

fitzroy 11 $1,775,000

Heathpool 15 $1,750,000

Glenelg South 21 $1,740,000

Glenelg 14 $1,735,500

Beaumont 79 $1,700,000

erindale 35, $1,700,000

Glenunga 52 $1,661,000

Royston Park 25 $1,650,000

Kensington Park 33 $1,647,000

Leabrook 18 $1,635,000

St Georges 46 $1,614,444

Walkerville 60 $1,602,500

Trinity Gardens 20 $1,598,000

millswood 28 $1,592,500

netherby 21 $1,530,000

Kensington Gardens 37 $1,525,000

Joslin 14 $1,525,000

Dulwich 25 $1,521,000

wayville 14 $1,520,000

unley 63 $1,500,000

Hawthorn 37 $1,500,000

Hazelwood Park 29 $1,465,000

Collinswood 13 $1,410,000

Henley Beach South 47 $1,410,000

kingswood 39 $1,385,000

tennyson 24 $1,382,500

Myrtle Bank 34 $1,380,000

Westbourne Park 26 $1,377,500

Rosslyn Park 23 $1,372,000

Linden Park 45 $1,370,000

burnside 62 $1,361,000

Wattle Park 40 $1,355,000

teringie 18 $1,352,500

Norwood 84 $1,345,000

Torrens Park 55 $1,325,000

goodwood 45 $1,320,000

Gilberton 35 $1,315,000

fullarton 55 $1,315,000

Beulah Park 31 $1,310,000

frewville 20 $1,301,000

Henley Beach 113 $1,300,000

semaphore south 21 $1,290,000

Urrbrae 30 $1,280,000

highgate 19 $1,278,000

Glen Osmond 35 $1,275,000

Stonyfell 25 $1,272,500

glenside 34 $1,265,000

Colonel Light Gardens 36 $1,232,500

Mitcham 31 $1,215,000

Stirling 58 $1,205,000

Cumberland Park 34 $1,200,000

seacliff 23 $1,200,000

parkside 89 $1,175,000

Kingston Park 12 $1,145,000

Eastwood 12 $1,142,500

Vale Park 65 $1,140,000

crafters 43 $1,135,000

Maylands 23 $1,125,000

Glenelg East 50 $1,122,500

North Brighton 34 $1,120,000

Clarence Park 32 $1,115,000

Croydon 19 $1,101,000

west beach 80 $1,100,000

Aldgate 47 $1,100,000

Somerton Park 101 $1,100,000

Craigburn Farm 76 $1,093,500

Brighton 50 $1,067,500

evandale 29 $1,063,000

Black Forest 23 $1,060,000

St Morris 23 $1,055,000

Lower Mitcham 31 $1,050,000

mount osmond 11 $1,050,000

stepney 10 $1,025,000

Kensington 22 $1,023,400

lockleys 78 $1,006,500

forestville 15 $1,000,000

North Adelaide 99 $1,000,000

prospect 192 $1,000,000

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