Magill home’s $3m-plus sale breaks suburb record

The multimillion-dollar sale of a tightly-held Magill home has raised the bar for its popular eastern suburb.

The six-bedroom residence on a 1486sqm block at 18 Lorne Ave was snapped up for $3.682m under the hammer, making it the highest price paid for a single house in Magill.

Property records show the suburb’s previous record-holder was the home at 11A Winchester Ave, which changed hands for $3.505m in December 2010.

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The Magill home at 18 Lorne Ave has sold for $3.682m, making it the suburb’s highest house sale.

It has been owned by the same family for generations.

Selling agent Vincent Doran, of Crawford Doran, said the property, which had been owned by the same family for generations, attracted more than 40 registered bidders to its auction.

“It’s pretty amazing,” he said.

“It’s a sign that the market’s not going to slow down.

“The majority of interest was from developers, there were some people looking to build one to two houses on the property too though.

“I believe the buyer’s intentions are to develop the block.”

Mr Doran said larger blocks like this one were getting harder to find in the suburb, with many being flattened to make way for multiple, newer homes following their sale.

He said this property was one of the biggest blocks to hit the market in the area over the past roughly two years.

The sale comes after a luxury Mount Gambier property set a new residential sales record for Mount Gambier.

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Magill is one of Adelaide’s most popular eastern suburbs.

The Mount Gambier property at 12 Lake Terrace West has sold for $1.24m, marking a new residential sales record for the town.

The two-storey clifftop home at 21 Lake Terrace West was snapped up by a local business owner for $1.46m.

The historic Colhurst House previously held the title as the regional SA city’s highest sale after it sold for $1.4m in 2022.

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