Properties across the country are selling for record prices and surpassing previous top sales within their suburb.
The latest data reveals that a house in Dover Gardens, in Greater Adelaide, sold for $3.04 million in June this year, beating the previous top sale by $1.35 million.
The median house price in Dover Gardens is $821,000, making the new record sale more than $2 million higher than the median.
The second record sale of the year was in Newtown, Sydney, where a beautiful warehouse conversion went for $13.5 million.
The 5-bed property with its own salt water pool beat the previous record of $6.85 million for a period terrace with original features that sold in July of 2023.
Another Sydney suburb, Hurstville Grove, made it into the top ten record breaking suburbs when a 9-bed waterfront estate sold for $10.45 million in December 2023.
Previously, the top sale in this suburb was $5.27 million, for a modern, architecturally designed, 5-bed residence, close to the waterfront.
Suburbs in other major cities also broke records in the past 12 months, in particular Ravenswood in Perth, where a house sold in March of this year for $2.42 million.
This new record was $1.8 million higher than the previous top sale of $1.29 million that took place in February 2024.
| Suburb | State | New record | Previous record | Percentage increase |
| DOVER GARDENS | SA | $3,040,000 | $1,355,000 | 124% |
| NEWTOWN | NSW | $13,500,000 | $6,650,000 | 103% |
| HURSTVILLE GROVE | NSW | $10,450,000 | $5,275,000 | 98% |
| WEST PYMBLE | NSW | $9,000,000 | $4,800,000 | 88% |
| RAVENSWOOD | WA | $2,425,000 | $1,295,000 | 87% |
| LAMB ISLAND | QLD | Hidden price | $775,000 | 74% |
| ELWOOD | VIC | Hidden price | $10,000,000 | 71% |
| SPRINGWOOD | NSW | Hidden price | $2,300,000 | 70% |
| LINDEN | NSW | $2,550,000 | $1,520,000 | 68% |
| REVESBY HEIGHTS | NSW | $3,747,000 | $2,250,000 | 67% |
And it isn't just large luxury properties that are breaking records, there are also modestly sized homes that have surpassed the previous top sales.
On Lamb Island, in Brisbane, a charming period home that was originally moved to the island via a barge, sold for a price we can't disclose. However, we can say that this price was 74% higher than the previous top sale that went for $775,000 in September 2021.
Elwood, in Melbourne, achieved a new record in February of this year when a 5-bed residence in Elwood’s elite Golden Mile sold for 71% higher than the previous record of $10 million sold in June 2022.
The property does not have a published sale price; however, the property is one of a kind with a federation frontage hiding a huge architect designed contemporary extension out the back and is arguably Elwood's top property.
In October 2023, a one of a kind property in Springwood sold for an undisclosed sum, making it the highest sale in the suburb.
The property was built for Sydney businessman and leading developer, John Lawler in the 1880's and spent many years as a convent before being fully renovated in the 2000s.
The previous record sale in the suburb was $2.3 million, making the new record sale 70% higher.
As median home values across the country continue to rise and hit new records it won’t be long before the current record prices in these suburbs are beaten again.
