South Australia’s property boom has further rewarded SA homeowners, with the state finishing the year with a record 121 suburbs with a median of $1m or more, yet a concerningly small number below $500,000.
Proptrack’s December Market Trends report reveals, of suburbs to have had the 10 sales needed to form a statistically reliable median, Adelaide’s most valuable suburb is Medindie, with a median sale price of a whopping $3.3m from 19 sales.
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Both Hyde Park and Unley Park had a median price of more than $2.5m, notching up $2.7375m and $2.55m medians from 12 and 17 sales respectively.
Fitzroy ($2.26m), Springfield ($2.25m), St Peters ($2.45m), Tennyson ($2.235m), Leabrook ($2.2m) and Glenelg South ($2.165m) and College Park ($2.13m) rounded out the top 10.
At this time in 2020 there were just 29 suburbs with a median of $1m or more, with the top suburb being Tennyson with a $1.93m median from 15 sales.
Williams Real Estate’s Stephanie Williams said Medindie was a perennial favourite.
“That $3.3m median is huge and it doesn’t surprise me at all – Medindie continues to have such a strong following because of the small suburb size, beautiful block sizes, the character housing, the beautiful leafy streets and proximity to both Wilderness School and the CBD,” she said.
“While homes here used to be bought up by those coming from interstate or overseas, locals continue to support Medindie and it’s still strongly sought after.’”
Mrs Williams said supply and demand was fuelling prices of prestige homes, and she was anticipating a busy first quarter for 2025.
![MOST EXPENSIVE AND CHEAPEST SUBURBS](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
Real estate agent Stephanie Williams on Dutton Tce Medindie. A new report reveals the most expensive and cheapest suburbs, with Medindie topping the list. Picture: Brenton Edwards
“Listings are down 40.3 per cent over a five-year cycle so that heightens competition and desirability because there’s less on the market but lots of buyers still wanting to buy in there and that’s driving price outcomes up,” she said.
“I’m predicting there’ll still be a growth pattern for homes in these suburbs, but just not s invigorated as it has been this year, but there will be growth, so if you were considering investing in a premium area I’d be getting in sooner rather than later – I can’t see it coming off and I think it will still perform strongly because of low stock levels and a potential interest rate cut next year.”
At the other end of the spectrum are SA’s most affordable suburbs, with a concerningly low number of them available for less than $500,000.
The report shows there are just six suburbs with a median house price of $500,000 or less.
Elizabeth Grove recorded a $491,000 median, Smithfield Plains $487,000, Elizabeth Downs $483,250, Davoren Park $472,000 and Elizabeth South $470,000.
But the most affordable, by almost $30,000, is Elizabeth North, with a median house price of $441,500.
According to PropTrack’s December 2020 Market Trends report, there were 149 suburbs with a median house price of $500,000 or less – highlighting Adelaide’s growing affordability issue.
Elizabeth North was metropolitan Adelaide’s most affordable suburb back then too, with a median price of just $165,000.
That is an increase of more than 167 per cent in just four years.
Thanasi Mantopoulos says there’s still good buying opportunities in Elizabeth North, despite prices having risen sharply there over the past four years. Picture: Dean Martin
LJ Hooker Mile End/Woodville’s Thanasi Mantopoulos, who has sold five properties in the suburb over the past 12 months, according to realestate.com.au, said
“You can buy a full-sized home there for what units are selling in the inner-city suburbs,” he said.
“With the infrastructure upgrades, like the northern connector, it’s not too far from the city and there’s a lot of redevelopment in the area.
“Buyers do their research and they know that the more renewal that occurs, the more prices go up and if they’re in early they’re always ahead.
“It’s not too late for people to still buy here, there’s plenty of opportunity, and there’s not indication that prices wouldn’t continue to trend upwards, albeit at a lower rate.”
SA’s most expensive suburbs
| Suburb | Number Sold (12 months) | Median Sale Price (12 months) |
| Medindie | 19 | $3,300,000 |
| Hyde Park | 12 | $2,737,500 |
| Unley Park | 17 | $2,550,000 |
| Fitzroy | 12 | $2,260,000 |
| Springfield | 11 | $2,250,000 |
| St Peters | 40 | $2,240,000 |
| Tennyson | 18 | $2,235,000 |
| Leabrook | 20 | $2,200,000 |
| Glenelg South | 21 | $2,165,500 |
| College Park | 14 | $2,130,000 |
| Malvern | 35 | $2,000,000 |
| Auldana | 10 | $1,932,500 |
| Toorak Gardens | 20 | $1,915,000 |
| Joslin | 13 | $1,895,000 |
| Royston Park | 19 | $1,874,000 |
| Dulwich | 22 | $1,873,500 |
| Millswood | 24 | $1,872,500 |
| Erindale | 21 | $1,860,000 |
| Tusmore | 21 | $1,855,000 |
| St Georges | 41 | $1,850,000 |
SA’s most affordable suburbs
| Suburb | Number Sold (12 months) | Median Sale Price (12 months) |
| Elizabeth North | 115 | $441,500 |
| Elizabeth South | 47 | $470,000 |
| Davoren Park | 253 | $472,000 |
| Elizabeth Downs | 130 | $483,250 |
| Smithfield Plains | 100 | $487,000 |
| Elizabeth Grove | 53 | $491,000 |
| Elizabeth Park | 120 | $502,500 |
| Smithfield | 52 | $513,750 |
| Elizabeth East | 109 | $520,000 |
| Eyre | 43 | $521,500 |
| Evanston Gardens | 86 | $530,000 |
| Elizabeth | 15 | $530,000 |
| Elizabeth Vale | 89 | $532,000 |
| Wingfield | 13 | $535,000 |
| Salisbury North | 188 | $550,000 |
| Evanston | 54 | $550,000 |
| Andrews Farm | 227 | $556,000 |
| Munno Para | 149 | $561,000 |
| Munno Para West | 224 | $585,000 |
| Willaston | 58 | $588,750 |
Adelaide’s $1m+ suburbs
| Suburb | Number Sold (12 months) | Median Sale Price (12 months) |
| Medindie | 19 | $3,300,000 |
| Hyde Park | 12 | $2,737,500 |
| Unley Park | 17 | $2,550,000 |
| Fitzroy | 12 | $2,260,000 |
| Springfield | 11 | $2,250,000 |
| St Peters | 40 | $2,240,000 |
| Tennyson | 18 | $2,235,000 |
| Leabrook | 20 | $2,200,000 |
| Glenelg South | 21 | $2,165,500 |
| College Park | 14 | $2,130,000 |
| Malvern | 35 | $2,000,000 |
| Auldana | 10 | $1,932,500 |
| Toorak Gardens | 20 | $1,915,000 |
| Joslin | 13 | $1,895,000 |
| Royston Park | 19 | $1,874,000 |
| Dulwich | 22 | $1,873,500 |
| Millswood | 24 | $1,872,500 |
| Erindale | 21 | $1,860,000 |
| Tusmore | 21 | $1,855,000 |
| St Georges | 41 | $1,850,000 |
| Hazelwood Park | 29 | $1,820,000 |
| Hawthorn | 34 | $1,772,500 |
| Walkerville | 30 | $1,767,500 |
| Kingswood | 34 | $1,762,500 |
| Westbourne Park | 37 | $1,750,000 |
| Netherby | 30 | $1,725,000 |
| Beaumont | 52 | $1,710,750 |
| Rosslyn Park | 28 | $1,706,500 |
| Glenunga | 28 | $1,706,000 |
| Collinswood | 11 | $1,702,500 |
| Burnside | 49 | $1,660,000 |
| Kensington Park | 38 | $1,656,000 |
| Somerton Park | 93 | $1,650,000 |
| Highgate | 22 | $1,616,500 |
| Henley Beach | 92 | $1,615,000 |
| Linden Park | 27 | $1,600,000 |
| Unley | 59 | $1,600,000 |
| Kensington Gardens | 41 | $1,600,000 |
| Glenelg | 22 | $1,595,000 |
| Myrtle Bank | 34 | $1,590,000 |
| Henley Beach South | 51 | $1,585,000 |
| Urrbrae | 24 | $1,582,500 |
| Seacliff | 23 | $1,561,000 |
| Wayville | 11 | $1,550,000 |
| Stonyfell | 25 | $1,550,000 |
| Mitcham | 43 | $1,530,000 |
| Colonel Light Gardens | 34 | $1,505,000 |
| Lower Mitcham | 32 | $1,505,000 |
| West Beach | 58 | $1,505,000 |
| Glen Osmond | 37 | $1,500,000 |
| Glenelg East | 49 | $1,500,000 |
| Fullarton | 31 | $1,500,000 |
| Gilberton | 22 | $1,495,000 |
| Stirling | 47 | $1,450,000 |
| Beulah Park | 18 | $1,437,500 |
| Goodwood | 46 | $1,428,750 |
| Trinity Gardens | 14 | $1,425,000 |
| Wattle Park | 40 | $1,425,000 |
| St Morris | 25 | $1,410,000 |
| Torrens Park | 50 | $1,405,250 |
| Grange | 95 | $1,400,000 |
| Norwood | 76 | $1,374,000 |
| Crafers West | 15 | $1,355,000 |
| Fulham | 59 | $1,345,000 |
| South Brighton | 44 | $1,345,000 |
| Forestville | 12 | $1,340,000 |
| Parkside | 74 | $1,338,500 |
| North Brighton | 38 | $1,333,500 |
| Aldgate | 47 | $1,330,000 |
| Frewville | 18 | $1,322,500 |
| Eastwood | 10 | $1,320,000 |
| Glenelg North | 101 | $1,315,000 |
| Maylands | 20 | $1,305,000 |
| North Adelaide | 99 | $1,300,000 |
| Glenside | 46 | $1,300,000 |
| Cumberland Park | 24 | $1,296,000 |
| Stepney | 18 | $1,285,000 |
| Croydon | 20 | $1,281,500 |
| Payneham South | 21 | $1,277,500 |
| Craigburn Farm | 40 | $1,257,500 |
| Brighton | 50 | $1,257,500 |
| Prospect | 135 | $1,250,000 |
| Marino | 38 | $1,245,000 |
| West Lakes | 101 | $1,235,000 |
| Tranmere | 65 | $1,222,000 |
| Crafers | 29 | $1,210,000 |
| Glandore | 35 | $1,206,000 |
| Semaphore South | 13 | $1,205,000 |
| West Lakes Shore | 45 | $1,202,000 |
| Vale Park | 37 | $1,200,000 |
| Glynde | 21 | $1,200,000 |
| Manningham | 16 | $1,192,500 |
| Belair | 64 | $1,192,500 |
| Heathfield | 10 | $1,187,500 |
| Clarence Gardens | 38 | $1,185,000 |
| Payneham | 29 | $1,175,000 |
| Hove | 51 | $1,175,000 |
| Lockleys | 83 | $1,171,000 |
| Clarence Park | 35 | $1,167,000 |
| Glengowrie | 103 | $1,160,000 |
| Nailsworth | 20 | $1,154,500 |
| Hahndorf | 32 | $1,153,500 |
| West Hindmarsh | 15 | $1,150,000 |
| Magill | 168 | $1,117,500 |
| Fulham Gardens | 76 | $1,112,500 |
| Kensington | 16 | $1,091,667 |
| Daw Park | 35 | $1,085,000 |
| Kidman Park | 44 | $1,078,000 |
| Woodville Park | 18 | $1,075,000 |
| Firle | 25 | $1,075,000 |
| Felixstow | 44 | $1,061,250 |
| Seacliff Park | 41 | $1,050,000 |
| Novar Gardens | 30 | $1,050,000 |
| Cheltenham | 21 | $1,040,000 |
| Sefton Park | 16 | $1,033,250 |
| West Croydon | 54 | $1,027,000 |
| Rostrevor | 166 | $1,013,000 |
| Allenby Gardens | 31 | $1,005,000 |
| Upper Sturt | 14 | $1,005,000 |
| Clapham | 20 | $1,001,000 |
| Torrensville | 78 | $1,000,000 |
