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South Australia Sotheby’s Realty defies the market with record-breaking results

Luxury real estate brand South Australia Sotheby’s International Realty has bucked the historically conservative South Australian property market trends with a number of landmark sales.

Under the leadership of Grant Giordano, Director – Adelaide, several big-ticket properties have either sold or been contracted in the last few months, many setting suburb records.

In June, a dream coastal property in tightly-held Tennyson sold for a staggering $5.2 million and more recently, a Crafers mansion brought in a suburb record of almost $3 million (currently under contract). Further afield in Coromandel Valley, a new precedent was set with a $1.76 million sale.

Adelaide house prices have remained fairly stable over the last few months, with minimal growth, but this has not been reflected in the prices achieved by the team in South Australia.

“We’ve been able to utilise the global reach of Sotheby’s International Realty,” Mr Giordano said.

“With such an extensive network of potential buyers to fall back on we really do have a strong point of difference at Sotheby’s Realty. We can tap into international buyers who may not be dealing with the same vagaries of the Australian economy”.

A blue-chip North Adelaide property reached $4.1 million dollars – the highest price in the suburb in the last five years according to Corelogic data. This particular house was sold to an international client after a single inspection without incurring any marketing costs for the vendor.

All these suburb records, in conjunction with a $3.9 million sale on Edwin Terrace, a $2.35 million sale in Port Elliott, and a near AUD$10 million referral sale on Lake Versoix in Switzerland on behalf of an Adelaide ex-pat run through the Adelaide office, have highlighted overseas investor demand for quality South Australian real estate and the difference Sotheby’s brings to the market.

As part of a major global network, which includes more than 22,700 independent sales associates located in approximately 990 offices in 72 countries and territories worldwide, the South Australia Sotheby’s International Realty team has access to a wealth of information and resources.

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