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Revealed: SA’s top 10 house sales for 2024

Posted: 2024-12-20 20:00:00

Original link: https://www.realestate.com.au/news/revealed-sas-top-10-house-sales-for-2024/

It has been another massive year for SA property, with some of SA’s most amazing properties changing hands for equally massive prices.

And that included a new state record for an on-market sale, with a grand villa at 4 Victoria Ave, Unley Park settled for a whopping $12.5m in May.

The state’s record on-market sale at 4 Victoria Ave, Unley Park. Supplied

Sitting on a 2287sqm allotment, and offering some 640.6sqm of indoor and outdoor living space, and complete with a sauna, a pool and spa, and a grass tennis court, the 1920s-built home eclipses the previous record for an on-market sale of $10.5m for modern masterpiece Elysian at 9 Robe Tce in Medindie in 2021.

The home’s pool and spa. Supplied

An on-market transaction refers to a transparently-sold property listed on public search portals, such as realestate.com.au.

The property’s final sale price was still $1m behind SA’s record transaction – $13.5m for the off-market sale of local businesswoman Mary Kotses’ 70 Pennington Tce, North Adelaide home in 2021.

Inside the stunning villa. Supplied

Selling agent Penny Riggs of Alexander Real Estate said while some prestige properties could take a long time to find buyers, this one was sold in just five days.

“It’s exciting for SA that we’re seeing that sort of pricing now and I think it will encourage more people with large properties to come to the market,” she told the Advertiser at the time.

“I think it’s a great confidence boost for Adelaide.”

Penny Riggs of Alexander Real Estate. Supplied

The sale price eclipsed the suburb’s record of $7.65m by a whopping $5.75m.

It wasn’t the only huge sale price for the year.

31 Dutton Tce, Medindie sold for $10m in March – just $500,000 below the suburb’s record for the 9 Robe Tce mansion Elysian which sold in February 2021.

Three properties fetched more than $8m – 7 Edwin Tce, Gilberton, which sold for $8.8m, 16 Dutton Tce, Medindie, which sold for $8.3m and 5-7 Avenue St, Millswood, which sold for $8m.

There were two sales between $7m and $8m – 55 Sheffield St, Malvern for $7.375m and 15 Trinity St, College Park for $7m, while 19 Cygnet Court, Glenelg North, 1b Victoria Ave, Unley Park and 2 The Avenue, Medindie recording sales prices of $6.987m, $6.85m and$6.6m respectively.

As has been the case in previous years, with the odd grand Hills homestead making the list, all of the top ten sales coming from either blue-chip city fringe favourites or SA’s prestige waterfront.

Williams Real Estate’s Stephanie Williams, who sold five homes in this year’s top 10, said supply and demand was fuelling prices of prestige property, and she was anticipating a busy first quarter for 2025.

Stephanie Williams of Williams Real Estate. Picture: Brenton Edwards

“Adelaide will continue to perform well and shine next year,” she said.

“I think the short supply will continue and that will see people achieve record prices across the board.

“I’m anticipating a busy first quarter – this year is going out strongly.”

She said despite the market not being as hot as it was at the height of the pandemic, homeowners in prestige suburbs should still see value growth.

“It probably won’t be as invigorated as it has been this year, but there will be growth, so if you’re anticipating investing in a premium area I’d get in sooner rather than later,” she said.

“I can’t see it coming off the boil and I think it will continue to perform strongly because of low stock levels and a potential interest rate cut.”