The Beulah Park property at 23 Osborn Avenue sold at auction for almost $60,000 above reserve. Pic: realestate.com.au
Strong competition for a Beulah Park character home pushed its sale price almost $60,000 above reserve at auction.
The four-bedroom villa at 23 Osborn Avenue fetched $1.356 million under the hammer, which was $56,000 more than the sellers expected.
Selling agent Brandon Pilgrim, of Ray White Norwood, said the home’s extension and 969sqm block, which was much larger than most properties in the suburb, attracted househunters.
Throughout the 26-day campaign, Mr Pilgrim said 150 prospective buyers visited the home.
There were 13 registered bidders vying for the property. Pic: realestate.com.au
A young family bought the home. Pic: realestate.com.au
“The campaign was incredibly active and we ended up attracting 13 registered bidders on the day – it was that competition that drove such a good price,” he said.
“This was a sensational result for our vendor with the property selling $56,000 over the reserve following red-hot competition.”
Mr Pilgrim, who sold the property with Ryan Stapleton, said the top buyers in the running for the house were all under 40 years old and looking for a family-type home.
“I think there were one or two who may have been there for the land,” he said.
It was the first time buyers Paige and Tom Pham had attended an auction, but they had no problems fighting for the property they loved.
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Its extension and block size attracted prospective buyers. Pic: realestate.com.au
“COVID-19 was not an issue for us at all and we had a huge amount of confidence in the market,” Ms Pham said.
“We don’t believe the Adelaide market has slowed down at all – we sold fine last month – so we had no problem buying now at all.
“We have three young children and we love the neighbourhood, the good-sized block and the fact it’s close to the schools and amenities.
“We plan on staying here for the next 20-30 years.”
The home was just one of dozens of properties that sold at auction in the past week.
CoreLogic’s preliminary auction statistics show Adelaide recorded a 75.9 per cent clearance rate on 53 auctions in the week ending September 13.
At the same time last year, the clearance rate was 58.1 per cent on 68 auctions.
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