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First-home buyer splashes big bucks on Adelaide home for ‘sentimental reasons’

Real estate & property news
27 November 2023
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Shortage of larger homes in Adelaide suburbs reaps rewards for sellers. A first-home buyer has defeated investors to win the keys to a renovated home in Adelaide’s inner northeast.

The buyer splashed $910,000 on the four-bedroom house at 32 Karingal Road, Dernancourt (pictured below), a whopping $115,000 more than the $795,000 price guide.

A mix of eight investors and homebuyers registered to bid for the property on November 25, with six competing on the day, according to Barry Plant Norwood director Michael Duff.

The auction opened at $800,000 and bidding continued steadily towards the end when it ramped up between the first-home buyer and two investors.

“The result was totally unexpected,” Mr Duff said.

“The young man was determined to buy the home, and mainly for sentimental reasons.”

The buyer had lived in the area about 10 years ago, when he was a high school homestay student from China, according to Mr Duff.

“He also liked the aquarium in the foyer and the spacious floorplan with room for his parents to stay,” he said.

Mr Duff said the property was well received in the market and generated above-average views online and high attendance numbers at inspections.

“There is a shortage of four-bedroom, two-bathroom homes in Dernancourt,” he added.

“This spacious family home will hold its value well in this popular location, just 11km from the CBD.”

Another outstanding sale for Barry Plant Norwood was the near $1.8 million obtained for the five-bedroom, three-bathroom house at 142 Yarrabbee Road, Greenhill (pictured below).

In images 1/3142 Yarrabbee Road, Greenhill - living room

“This is the top price for our office so far this year,” said director Elesa Wood.

“It gave the sellers a tidy profit and was probably a record sale for the suburb.”

The buyers were next-door neighbours who had missed out on buying the home two years ago.

On a large 2119sq m block in a magical Adelaide Hills setting, the double-storey house has valley views.

It features living and entertainment zones on both levels, two kitchens, a cellar and a fully tiled heated pool.

And a chic townhouse with a warehouse vibe in the heart of the city has sold for more than $1.5 million.

Offering commercial and residential opportunities in the city centre, the two-bedroom property at 53 Byron Place, Adelaide (pictured below), was snapped up by a fibre-security company.

“They will run their business from the premises,” Ms Wood said.

The city home of a well-known family in the wine industry, it once made an appearance on the Selling SA television show.

“Whether it's for work or for home, or a bit of both, this property is sure to be an astute investment now and well into the future,” Ms Wood said.

Barry Plant Norwood has a variety of properties listed for sale from modern to period homes, including the former St James Church on 4000sq m at Lot 95 Broughton Road, Yacka (pictured below).

Priced at $196,000-$205,000, the property in regional South Australia is a rarity on the market and has been attracting strong interest.

“Buyers are looking at converting it to a family home, caravan park or Airbnb-style accommodation,” Ms Wood said.

Built in 1894, the stone church with red brick quoins and leadlight has been lovingly maintained over the years.

“It’s in the best condition of any church I’ve sold,” Ms Wood said.

“It doesn’t even have a crack in it.”

Yacka is near the Clare Valley wine region, a prime tourist destination about two hours north of Adelaide.

Real estate & property news
27 November 2023
Save Article

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