THE SUBURBS THAT HAVE JOINED AND LEFT ADELAIDE’S MILLION-DOLLAR CLUB

Date: 2021-14-02 19:31:20

THE SUBURBS THAT HAVE JOINED AND LEFT ADELAIDE’S MILLION-DOLLAR CLUB

Adelaide’s million-dollar club has ballooned over the past year, with 13 suburbs joining the exclusive group.

Glenelg South, Millswood, Westbourne Park, Hyde Park and Fullarton are among those that recorded the largest increases in their median house prices to climb above the $1 million mark in the year to January 31.

On the flip side, Netherby, Unley and Glen Osmond dropped below the seven-figure threshold.

The realestate.com.au figures are based on suburbs with a minimum of 10 sales, so one deal could have pushed the median above or below $1 million in some areas.

However, property experts have been reporting for months that demand for homes is pushing prices up across the board, with latest Valuer-General data also revealing Adelaide’s median house price climbed 5.15 per cent in 2020 to a record median of $510,000.

Allan Real Estate director Brad Allan said Glenelg South, which had a 51.6 per cent year-on-year increase to a median price of $1,282,500, was a small and tightly held suburb.

With demand for property in the beachfront locale increasing, Mr Allan said prices would continue to climb.

“Even the entry level housing now is $1 million-plus – to purchase a home even if it’s on a small allotment, it would be $1 million plus,” he said.

“There’s a lot of people lined up to get in.”

He said Somerton Park was similar but the houses on the eastern side of Brighton Road were slightly cheaper.

Meanwhile, Ray White Henley Beach principal Anthony Fahey said Henley Beach South was becoming increasingly popular, which was pushing prices up.

It recorded a 9.76 per cent year-on-year change, taking its median to $1.04 million.

“Henley Beach South is certainly a very desirable suburb because it’s not as commercial as Henley Beach and Glenelg,” he said.

“There’s less traffic, people like that type of isolation, and you’ve also got the attraction of both the River Torrens Linear Park Trail and the beach.

“Henley Beach is probably drawing them to the area but when they’re searching (for property), they realise Henley Beach South is just over the road.”

Adelaide now has 31 suburbs in its million-dollar club, according to realestate.com.au.

 

JOINED THE MILLION-DOLLAR CLUB

(Suburb, median house price, number of sales, median price 12 months ago, year-on-year change in median)

 

Hyde Park – $1.3 million, 29, $959,223, 26.21 per cent

Glenelg South – $1,282,500, 20, $620,784, 51.60 per cent

Millswood – $1.27 million, 29, $623,303, 50.92 per cent

Kingswood –$1.25 million, 25, $952,970, 23.76 per cent

Westbourne Park – $1.235 million, 27, $847,420, 31.38 per cent

Wayville – $1.14 million, 12, $865,854, 24.05 per cent

Hawthorn – $1,137,500, 28, $883,702, 22.31 per cent

Fullarton – $1.105 million, 43, $825,617, 25.28 per cent

Glenelg – $1,089,913, 22, $979,916, 10.09 per cent

Myrtle Bank – $1.075 million, 36, $995,529, 7.39 per cent

Beaumont – $1.050 million, 63, $875,000, 16.67 per cent

Henley Beach South – $1.04 million, 47, $938,469, 9.76 per cent

Somerton Park – $1 million, 91, $888,888, 11.11 per cent

 

LEFT THE MILLION-DOLLAR CLUB

(Suburb, median house price, number of sales, median price 12 months ago, year-on-year change in median)

Netherby – $999,000, 23, $1,173,886, -17.51 per cent

Unley – $974,000, 60, $1,100,967.86, -13.04 per cent

Glen Osmond – $962,000, 29, $1,108,630, -15.24 per cent

 

ADELAIDE’S MILLION DOLLAR SUBURBS

(Suburb, median house price)

Unley Park –$1.715 million

Fitzroy – $1.6 million

Toorak Gardens –$1.6 million

Tennyson – $1.575 million

Medindie – $1.55 million

Springfield – $1.5 million

Walkerville – $1.41 million

Malvern – $1.34 million

SUNNY bright and pleasant; promoting a feeling of cheer More (Definitions, Synonyms, Translation)

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