A South Australian house in original condition has given its sellers a $70,000 premium at a spirited auction.
The three-bedroom house at 8 Wisteria Grove, Felixstow, sold for $920,000.
About 100 people attended the auction on July 30 to watch five of 10 registered bidders push up the price well beyond the seller’s $850,000 reserve, according to Barry Plant Norwood director Michael Duff.
“It was a quick and competitive contest which lasted eight minutes from start to finish,” he said.
The family home that sold to a buyer from Paradise, drew strong interest from as far as the Adelaide Hills from owner-occupiers, including downsizers moving from larger properties.
The home’s flexible floorplan, potential and location were the main drawcards, according to Mr Duff.
It is tucked in a coveted pocket of newer homes that were built in the late 1990s to the early 2000s, he said.
Only 6km from the CBD and near Linear Park and Marden Shopping Centre, it is close to quality schools including East Marden Primary, Felixstow Community College and Marden Senior College.
“It’s also near the Klemzig Interchange where you can jump on the O-Bahn and be in the heart of the city within 10 minutes,” Mr Duff said.
The sellers, who are moving to a retirement village, were pleased with the sale of their 20-year-old home.
Still, in original condition, it features three living areas and a flexible floorplan with scope for four to five bedrooms and a home office.
“It would benefit with some refurbishment, and perhaps kitchen and bathroom updates down the track,” Mr Duff said.
The result was a fitting finish to a stellar sales month for the Adelaide office, according to Mr Duff.
“This was one of the biggest Julys we've had in a long while,” he said.
A standout result for the month was the $1.21 million sale of a three-bedroom 1956 weatherboard house on 1039sq m at 27 Dumfries Avenue, Northfield.
The deceased estate, which had been home to the same family for many years, attracted 15 registered bidders, who were all developers, with six battling it out at the auction on July 23.
After an intense 30-minute bidding war, the property sold a whopping $271,000 above the seller’s reserve to a local developer because of its rarity and potential.
“Corner allotments without easements, encumbrances or significant trees seldom come on the market,” Mr Duff said.
“And this site has the potential to develop up to four-row dwellings or three detached premium homes, subject to planning consent.”
Offering endless possibilities, the property is located 9km from the CBD. Northfield is a growing suburb with parks, recreational areas and excellent schools.
Mr Duff said Northfield is an excellent suburb f
or owner occupiers and investors, and it is near the cosmopolitan shops and eateries of Prospect, North Adelaide and Walkerville.
Dumfries Avenue is on the border of Northgate, with Northgate Reserve just a short walk away, and the shopping village and Greenacres shopping centre with easy driving distance.
And the property is zoned for Northfield Primary School and Roma Mitchell Secondary College.
“There are plenty of other unzoned and private school options close by as well,” Mr Duff added.
Another outstanding result was for a four-bedroom house at 36 Mercedes Drive, Holden Hill.
The property, with a $700,000 seller’s reserve, attracted six registered bidders, with four competing at the auction on July 23. It sold to a first-home buyer for $825,000.
The home drew good interest when it hit the market, particularly from young families and first-home buyers, according to Mr Duff.
Custom-built in 1997 for the sellers who are downsizing, the classic country homestead with a return veranda features slate floors, western red cedar windows and stained glass panels.
“It was finished to a high standard by the builder, who showed up at the auction for sentimental reasons,” Mr Duff said.
Set opposite a reserve, the ideal family home with the potential for four bedrooms offers good value in an affordable suburb, just 11km from the CBD and near Linear Park.