The North Adelaide home at 83 Archer Street sold for more than $1 million at auction on the weekend. Pic: realestate.com.au
Fierce competition for property across Adelaide is showing no signs of abating, despite it traditionally being the quietest time of year for the market.
A North Adelaide property is one of several that attracted a dozen registered bidders and many more interested househunters at auction on the weekend.
A crowd of people gathered outside the three-bedroom terrace home at 83 Archer St, which fetched $1.02 million under the hammer.
Ray White Unley agent Robbie Smith, who sold the property with Josh Gillespie, said competition for the home had been strong from the day it hit the market earlier this month.
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A local buyer snapped up the three-bedroom terrace home. Pic: realestate.com.au
She plans to renovate the property and live in it. Pic: realestate.com.au
“It’s crazy out there at the moment,” he said.
“We had 80 groups through the home over the three week marketing campaign.
“At auction we had 12 registered bidders, four were active bidders.
“(Bidding) started off at $500,000 and gradually got up to $800,000, it was pretty competitive bidding.”
Mr Smith said the buyer was determined to have the property.
“She showed interest from the very beginning and she put an offer in beforehand,” he said.
“She’s going to renovate the property and live in it.”
Further south, a Seacliff character home also drew a big crowd at auction on Saturday, when it sold for $1.325 million.
Ray White Brighton agent Matthew Martin, who sold the property at 43 Myrtle Road with Susan Martin, said bidding started at $700,000 before surging past $1 million.
The Seacliff house at 43 Myrtle Road also sold for more than $1 million under the hammer at the weekend. Pic: realestate.com.au
Its size, location and character attracted househunters. Pic: realestate.com.au
“We had 11 bidders, five active,” he said.
“It was really strong, we had 105 registered visitors prior to auction day and we had another 40-odd that came through on the day.”
“It was a really good campaign.”
Mr Martin said the property’s size and position, as well as the character of the 1920s bungalow, made it such an appealing home to prospective buyers.
“(The buyer) is looking to renovate it and restore it back to its former glory,” he said.
Meanwhile, a St Georges house that was the second most-viewed property going under the hammer across the country on realestate.com.au last week sold for $785,000 hours after auction.
The St Georges house at 4 Crossing Street sold hours after auction. Pic: realestate.com.au
It was the second most-viewed property going to auction across the country on realestate.com.au last week. Pic: realestate.com.au
Belle Property Norwood agent Kiet Duong, who sold the property at 4 Crossing Street with Clarence Ling, said more than 70 people attended the renovated 1970s brick home’s auction on Saturday.
While four people registered to bid, Mr Duong said about four others weren’t in a position to buy under auction conditions.
“We sold it to the highest bidder (later) that night,” he said.
Mr Duong said sales had been strong over the past few months despite COVID-19.
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