Neighbourhood Notes: Adelaide’s Exclusive Suburb Of Medindie
The city-fringe locale continues to boom with its prized mansions and natural amenities
The city-fringe locale continues to boom with its prized mansions and natural amenities
From stately historic mansions to expensive new builds with underground garage space for 20 cars, Medindie, the exclusive inner northern suburb of Adelaide, has always been a well-heeled location with buyers lining up to own property bearing the blue-ribbon address.
Many keen buyers and investors are prepared to wait years for a grand Victorian mansion or a more contemporary sprawling home to come on the market in the area. Such properties tend to move fast. Stunning mansions with impressive facades, sweeping lawns, manicured gardens, tennis courts and swimming pools are located on expansive 1-acre landholdings that cannot be developed or subdivided, making them even more attractive to buyers.
The suburb is home to many historic dwellings including Willyama, built in 1883 by prospecter Charles Rasp, who discovered the rich ore deposits at Broken Hill in New South Wales, and The Briars, built in 1856 for George Hawker, which became a hospital.
Robe Terrace is the suburb’s star attraction, lined with attractive mansions including The Elysian, a modern residence which smashed the state’s residential sales record after selling in excess of $10 million last year. Pretty Victorian villas, contemporary terraces, townhouses and cottages are also sought after, but it’s those grand mansions that are the drawing card.
Medindie offers quality inventory at all levels and attracts families looking for a long-term hold and professionals after a “lock and leave” lifestyle seeking a comfortable base while in Adelaide.
It appeals to medical professionals wanting to be close to major hospitals as well as farmers based in the north of the state wanting a weekender close to the CBD, North Adelaide and Adelaide Oval, a sports and entertainment venue
Nature lovers and fitness fans enjoy the Adelaide Park Lands, known as Australia’s biggest backyard, while the River Torrens Linear Park Trail is a spectacular 30-kilometer nature walk.
It is also on the doorstep of vibrant cosmopolitan precincts including Prospect Road, Walkerville Terrace and O’Connell Street, which showcase charm and convenience.
There is direct access into the city centre, Adelaide Zoo and the Botanical Gardens, plus it’s an easy walk into Rundle Street precinct for shopping.
Adelaide real estate agent Stephanie Williams of Williams Luxury Real Estate said Medindie exudes glamour and prestige with some jaw-dropping homes.
“As well as stunning properties, there are some new properties with show off features such as underground accommodation for 15 to 20 cars and mind-blowing cellars,” she said.
The suburb is a 10-minute drive north from the city center and a 20-minute drive to Adelaide International Airport.
Medindie is adjacent to the Adelaide Park Lands, north of North Adelaide, and is bounded by Robe Terrace to the south, Northcote Terrace to the east, Nottage Terrace to the north and Main North Road to the northwest. It is close to Adelaide’s central business district and surrounded by parklands.
According to Kaytlin Ezzy, CoreLogic research analyst, Medindie houses recorded a median value as of April of A$2 million with top-tier values ranging from $2.38 million to $3.47 million. Compared to the nearby Prospect-Walkerville, Medindie’s median value is 62.6% higher, equivalent to a value gap of approximately $771,863, and nearly double (91%) the median value of the greater Adelaide region ($1.05 million).
Ms. Ezzy said the trend in Medindie’s house values has been positive over the past few years, rising 30.1% over the year to April and 57.2% over the past five years. This has resulted in the median value rising from $1.27 million in April 2017 to $1.54 million in 2021 before rising $463,644 over the past year resulting in a current median value of just over $2 million.
Medindie continues to be one of South Australia’s most prestigious suburbs and is home to generations of families who have resided there for centuries as well as newly wealthy buyers, according to Ms. Williams.
“Once they buy there, they remain, as it is an extremely tightly held location, offering unsurpassable exclusivity and prestige—significant mansions and luxurious estates and properties with prominent land holdings have encouraged affluent families to invest in this area for generations,” she said.
There is a very pronounced short supply of luxury properties on the market in Medindie, where there is a variety of architecture from historic Victorian styles to modern contemporary housing.
There are attractive villas, terraces, townhouses and cottages that are also sought after.
Ms. Williams said lifestyle estates and family homes always sell within their scheduled sales campaigns whether via expressions of interest, auction, or private treaty.
“Covid has changed the buying patterns of the luxury market in particular with wealthy clients changing their priorities to more home-based activities, with health and wellness being a major priority,” Ms. Williams said. “The desire for swimming pools, tennis courts, beautiful established gardens, wellness retreats and home offices being more popular than ever before. Luxury homes have never been in greater demand.”
Statistics show Medindie has 394 residential homes for sale compared to the nearby suburbs of Norwood, which has 1,901 residential homes on the market, and St. Peters, which has 870 residential homes for sale.
Buyers are attracted to Medindie for the magnificent adjacent parklands, its proximity to central Adelaide and larger-than-average block sizes.
It is also the only suburb within a short stroll of the exclusive girls-only Wilderness School.
Medindie is surrounded by shopping locales, including the Rundle Mall and Rundle Street in the city, which offer a wide range of luxury boutiques, including the David Jones department store. It is also very close to fashion-forward Melbourne Street and cosmopolitan O’Connell Street, the North Adelaide Shopping Village, and the shops along super-trendy Prospect Road.
Grocery stores in North Adelaide include Cibo Espresso, The Flying Fig, Coffee Gods Café, Romeo’s Foodland and The North Adelaide Village.
Top restaurants include The Lion Hotel, a South Australian icon that is directly across the Parklands, and North Adelaide has the Gin Long Canteen, Ruby Red Flamingo and Marrakech. The nearby Adelaide CBD has a vast range of excellent restaurants including Soi 38 known for its Thai cuisine, Italio-American inspired Fugazzi Bar and Dining Room, Osteria Oggi, Japanese-inspired Erato Teppanyaki, Arkhe on The Parade where chef Jake Kellie from Michelin star Burnt Ends in Singapore stars, and Orso on Kensington Road that has a following for its seafood and pasta.
Private schools include the Wilderness School, St. Peters College, Prince Alfred College and St. Andrews School. Nearby public schools include the new Adelaide Botanic High School, North Adelaide Primary School, Walkerville Primary School and Prospect Primary School.
Property tycoons, farmers, bankers, medical specialists, successful IT professionals and socialites all call Medindie home.
Ms. Williams said the market in Medindie continues to be incredibly strong, with buyer demand for this esteemed suburb at an all-time high and showing no signs of slowing down.
“We are continuing to experience a very high level of buyer inquiry for homes for sale in the area and some homes are selling off-market without reaching the paper or any online platforms,” she said.
“The suburb has always performed extremely well from a capital growth perspective and consistently features in the top 10 performing suburbs in South Australia. The average house price in Medindie over the past 12 months is A$2.68 million, which is an incredible growth of 82.4% during this time.”
Ms. Essy said while still reporting strong quarterly growth compared to the national trend (5.6%), capital appreciation across the Adelaide house market has started to ease.
“With the cash rate starting to rise and consumer confidence continuing to trending downwards, it’s likely the housing market is inching toward a downswing, with the higher end of the market typically showing more volatility both in the upwards and downwards phase of the cycle,” she said.
Reprinted by permission of The Wall Street Journal, Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: June 18, 2022.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Gail and Ron Fink’s property in Jupiter Inlet Colony sustained major damage during an unusually windy day. ‘The whole backyard is shot. All the landscaping is gone.’
Gail and Ron Fink weren’t home the day the ocean swallowed their backyard.
The Florida couple, who are in their 70s, were a few miles away on Feb. 6—an unusually blustery day in the Sunshine State—as waves pounded their beachfront property in Jupiter Inlet Colony, sweeping sand, dirt and trees out to sea. When it was all over, the Finks’ newly-built, roughly 10,000-square-foot home was intact; so too was their free-form swimming pool, improbably balanced on exposed concrete-and-steel pilings.
“That’s what saved the whole thing,” said Ron, founder of an air- and-water purification company. “The pilings are holding up the house and pool.”
Drone footage and pictures from local photographers and the Finks’ builder show the severity of the destruction, which left their pool suspended in the air, with pipes protruding from the earth. Town officials said erosion claimed 7 to 10 feet of sand and created steep drop-offs in front of about half-dozen homes, including one belonging to Kid Rock , the rapper-turned-country rocker, who paid $3.2 million for the property in 2012. Conair heiress Babe Rizzuto also sustained damage to her property down the street, which she bought for $6.3 million in 2015 and currently has listed for $22.5 million, according to Zillow. Neither responded to requests for comment.
But the Finks house, located just past the end of a granite revetment wall—a kind of sea wall—bore the brunt of the heavy wind and waves.
“The whole backyard is shot. All the landscaping is gone,” said Ron. Also gone are fully matured Palm trees and an ipe-wood deck. “It’s out floating in the ocean someplace.” Ron is self-insured and the repair work will be quite expensive. undefined
A New Jersey native, Ron is an engineer by training who worked at nuclear-testing sites in California and Nevada before moving to Florida in the 1980s. He is the founder of RGF Environmental Group, which makes air- water-and food-purification systems.
For almost 40 years, the Finks—who have three adult children and eight grandchildren—have lived in Admirals Cove, a gated community in Jupiter about 5 miles from their new house. They paid $180,000 for the Admirals Cove lot in 1987 and built a roughly 6,000-square-foot house, Ron said. The Finks also own homes in the Cayman Islands and Bahamas.
Ron said they began looking for property in Jupiter Inlet Cove years ago. “It’s a neat place, just a closed little colony right on the ocean, low key and quiet,” he said.
About 20 miles north of Palm Beach, Jupiter Inlet Colony is at the southern tip of Jupiter Island. The town, founded around 1959, has approximately 240 homes and is surrounded on three sides by water—the Atlantic Ocean, Jupiter Inlet and the Intracoastal Waterway. Long a destination for wealthy homeowners, homes in Jupiter Inlet Colony tend to trade for between $2 million and $5 million, although one sold for $18.6 million in January, according to real-estate brokerage Redfin. Last year, a home on the Intracoastal sold for $21.4 million, a record for the town.
In 2020, the Finks paid $4.9 million for a vacant beachfront lot and subsequently built a coastal-style house with a copper-and shake-style roof, covered loggia, pool and outdoor fire pit. “You know, it’s kind of a dream home,” Ron said. “We have built quite a few homes, but this is the end of the line for us, hopefully the last one.”
He said the property originally belonged to the singer Perry Como, one of the town’s first residents. A prior owner demolished Como’s house, and when the Finks bought it, there were concrete-and-steel pilings sticking out of the ground.
Ron Fink said he never removed about 60 pilings, he simply added roughly 30 more. “Now I’m glad I did,” he said. (Pilings are based on the design of a house, so Ron retained some pilings that he didn’t necessarily need.)
John Melhorn of design-build firm Thomas Melhorn, which built the house, said the Finks were a final review away from obtaining a certificate of occupancy when the backyard was destroyed. “They were right there at the goal line,” he said.
Melhorn said the erosion began in late October amid unusually high winds and ocean swell. During the first week of February, sand beneath a row of sea grapes that stabilized the dunes between the house and ocean began to wash away. By the evening of Feb. 6, the plantings disappeared. The yard was gone by the next morning.
Melhorn said a pre-existing, low wall between the ocean and house—described as a cinder-block retaining wall on land surveys—also washed away, as did a walkway and steps to the beach. But he said the 2-foot-high wall was less of a retaining wall and more like a curb between the street and sidewalk. In this case, a prior owner used it to hold sea grapes back from encroaching on the property. The Finks replaced the wall with decorative stone, now lost to the ocean. An outdoor fire pit is still there, cantilevered over the ocean. “We tried to pull as many things out as we saw the erosion coming, but we lost a lot,” Melhorn said.
In Florida, erosion is increasing because of more frequent, more severe storms and sea-level rise, said Cheryl Hapke, a research professor at the University of South Florida and the chair of the Florida Coastal Mapping Program. But she said it isn’t just hurricane-level storms that cause major damage. “One thing I have found about barrier islands [like Jupiter Inlet Colony] is that sometimes a series of smaller events can have as big an impact as a major hurricane,” she said. “But people get caught off guard. It’s something they don’t think of.”
In Jupiter Inlet Colony, longtime residents said this month’s erosion is the worst the area has seen in years, possibly ever.
Mayor Ed Hocevar, who has lived there for 17 years, said it has been a particularly cool and challenging winter with an abnormal number of Nor’easters. On Feb. 6, local news channels warned of high winds, with gusts between 40 and 50 miles an hour. (There were also reports of an earthquake off the coast that week, causing high waves.)
Since the 1980s, Jupiter Inlet Colony has had a granite rock revetment wall that extends from the northern end of the community past 11 oceanfront homes. “But we’ve got 28 homes along the beachfront, so it isn’t complete,” Hocevar said. “Where the wall ended is where the significant damage occurred.” Hocevar said he doesn’t know why the wall wasn’t completed, although local lore is that homeowners building the wall ran out of money.
Last week, the town hired a local mining company to bring in 7,000 tons of sand to replace what washed away. Hocevar said it would cost about $500,000, which will come out of the town’s reserve fund. Long term, he said, extending the revetment wall isn’t a strong possibility.
Hapke, the coastal geology expert, said that in recent decades, sea walls and hardened structures have fallen out of favor as scientists discovered they are detrimental to the environment around them. “Storm water wants to flow, so it will redirect water to the area without a sea wall,” she said, adding that the most ideal long-term solution is to move homes away from the coastline.
Hocevar, 67, who has been mayor of Jupiter Inlet Colony for about a month, said the town is working closely with the Department of Environmental Protection on its response. He said the DEP’s recommendation, should erosion like this occur again, is to bring in more sand. Hocevar emphasised that the community is rallying together. “Think about it as a fortress and your wall has been breached,” he said. “You want to protect your neighbourhood and that’s what we’re trying to do here.”
Holly Meyer Lucas of Compass, who represented the seller when the Finks purchased their property, said Jupiter Inlet Colony is a “special little enclave” where sales exploded during Covid. “Listings sell after a day or sell off-market,” she said.
Lucas said the consensus among local real-estate agents is that property values will hold, despite the erosion. “I think this is a really rare, weird, fluky event,” she said. “I’ve sold everywhere up and down the coast and I’ve never heard of anything like this.”
Babe Rizzuto, whose house is two doors down from the Finks, listed her house for $24.5 million in December 2023 and cut the price to $22.5 million on Feb. 6, according to Zillow.
“She’s going to continue to sell,” said Milla Russo of Illustrated Properties, who is marketing the property with her husband, Andrew Russo. “Even though the timing isn’t great, it is what it is.”
Russo said there has been erosion in the past, and during hurricanes residents of Jupiter Inlet Colony are the first in the area to evacuate. But in general, people are not preoccupied with the weather. “Maybe because we live here, when the hurricanes come, we all have hurricane parties. We go to people’s homes and we barbecue and grill. Of course we’re careful and we lock up and all that, but weather is weather,” she said. “We’ve never been terribly scared.”
(The Russos were also involved in selling the Fink property. However, in 2020 the closing agent on the deal, Florida-based Eavenson, Fraser & Lunsford, PLLC, sued Milla Russo and Illustrated Properties as part of a commission dispute. The seller, Michael Cantor’s Range Road Developers, was named as a defendant and cross-plaintiff in the suit, in which a judge ruled in favor of Eavenson, court records show. Milla Russo declined to comment on the suit. Eavenson declined to comment beyond the judge’s findings and Cantor did not respond to requests for comment.)
Ron was also matter-of-fact about the state of beachfront living. Bring a life jacket, he jokingly told a photographer who inquired last week about taking his picture.
However, the Finks are facing weeks of costly repairs. Although the town is bringing in sand to replace the decimated beachfront, the couple is self-insured and will be on the hook for the cost of rebuilding. Several major home insurers have pulled out of Florida, and Ron said insurance on the house would have cost $100,000 a year. Now, he estimated they could face about $1 million worth of repair work. “We gotta eat it,” he said.
The couple, who was supposed to move into the house this month, has put those plans on hold—for now. An engineer recently inspected the property and deemed the house safe, Ron said. “We’re doing wallpaper today,” he said. “We can put it back together again.” The patio and pool area, meanwhile, are roped off while the area underneath is backfilled with sand.
Ron said being near the ocean makes it worthwhile. “I just love the ocean, we both do. It’s important to us,” he said. “It isn’t easy to look at, but I’ve been through a lot worse.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’