They are not flash but these homes are selling like hot cakes
The affordable bracket of $600,000 to $900,000 is so scorching hot, in a city market where eager buyers are bidding for properties without viewing them first.
Case in point when it comes to bidding with seeing a home beforehand: 15 Hank Street, Lockleys, in Adelaide, which was auctioned on the weekend and sold for $300,000 above the reserve.
The home transacted for $1.54 million and some of the bidders who threw their hands in the air had not inspected it prior, auctioneer Sam Grover, of Ray White South Australia.
Grover told the agency’s weekend auction wrap that the bidding was “aggressive” despite some not walking through the address before he picked up his gavel. The retro property was perfectly preserved and presented with charming flourish.
The range of $600,000 to $900,000 is also especially strong, Grover said,
“Bidder numbers remained quite strong across the state today,,” he said in the auction report. “Agents and vendors have noted quite a number of auction bidders that have arrived and not even seen the property at all. They arrive and bid sight unseen, and bid aggressively.
“One auction in particular today was 15 Hank St Lockleys which had 14 registered bidders and a number of those hadn’t even seen the property beforehand.
“We are also seeing strong bidding in the range of the $600,000 to $900,000 price bracket. It’s not just the large landholdings, or more affordable homes, but activity is stretching far and wide.
“The rain has held off for us too so we’re expecting another pretty strong showing as far as clearance rate goes. We’re heading for a preliminary auction clearance rate in the low 80 percentage range.”
The deal in Lockleys was done by Ray White Henley Beach agent Mark Bowden.
Ray White’s chief auctioneer for South Australia John Morris recently nominated Adelaide’s as the busiest auction stage in Australia – even ahead of the eastern states where the method is more popular.
The agency’s data shows the number of registered bidders on SA homes has increased year-on-year from 6.1 to 6.8, and 3.1 to 3.4 (year on year) for active bidders.
“Week after week, Adelaide most frequently boasts the highest registered bidder numbers across Australia, by a country mile. Only a few weeks ago, a house in Paralowie attracted a huge 58 registered bidders,” Morris said an agency report.
“Buyers are still wary of the method, but only because they don’t necessarily understand it. The agents who truly believe in the method are able to make the buyers understand that it is an open, transparent way of buying property rather than a secretive private treaty method in which we are not allowed to divulge to buyers what other buyer’s offers are.”
The Domain national clearance rate this weekend clocked in at 63.7 per cent – a minor improvement on last weekend’s 63.4 per cent.
Properties which have sold for $600,000 to $900,000 in Adelaide
The classic timber property has a detached studio and is ready to be brought into the next area, fetching $800,00.
The light and bright, 1970’s property is “solid” brick, boasting voluminous rooms, and transacted for $750,000.
The four-bedroom, family-sized home had been completed updated, and went for $780,000.
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