Auction success highlights buoyant market

A pair of outstanding auction results has again underlined the strength of the Adelaide property market.

Homes at Hawthorn and Colonel Light Gardens both sold well beyond vendor expectations, with perceived uncertainty around COVID-19 having no impact on the campaigns.

The auction of a character bungalow at 27 Dorset Avenue, Colonel Light Gardens attracted nine registered bidders before selling for $890,000 to the call of auctioneer, Sales Partner Tim Thredgold, while a stylish executive home at 3 Godden Street, Hawthorn sold under the hammer for $2,040,000, with five registered bidders.

“Both auctions highlighted the strength and resilience of the Adelaide market,” Toop&Toop Director of Residential Sales, Bronte Manuel, said.

“There’s certainly no evidence of any slump in values because of COVID-19.

“In fact, we’re seeing the reverse. There’s increased demand for quality homes because stock levels are lower than we’d normally expect.

“Both these auction results are perfect examples of that.”

{"type":"Link","id":"5XibR1Pts6u1H26fAUjGUo","numimg":0}{"type":"Link","id":"2SEmhn7GdterbpG4jgUXO6","numimg":0}

Toop&Toop Sales Partner Peter McMillan said interest in the four-bedroom Hawthorn home had been significant since the property was first listed.

“It’s a very attractive home in an excellent location, so we weren’t surprised there were a number of people who were keen to pursue it,” McMillan said.

“Having said that, the auction certainly exceeded our expectations.

“The vendors received a very sound pre-auction offer and there were fleeting moments when they questioned if they had made the right decision.

“But to achieve a final price beyond $2 million was wonderful. The vendors were over the moon.

“The buyer was thrilled to secure the property, too. He loves it.”

{"type":"Link","id":"36CS06dW5sPJXqw7mFF8Uq","numimg":0}{"type":"Link","id":"6TSjMsdRFEvtMk68FXDefy","numimg":0}

The Colonel Light Gardens property proved similarly popular.

“I don’t think I’d be overstating things to say we had 80 people there on auction day,” Thredgold said.

“It was a lovely home and sat at a price point that seems very popular with young families.

“The bidding was strong and the end result was very satisfying.”

Toop&Toop