Positive pointers to strong buyer interest

Buyer demand continues to build momentum in Adelaide in 2020, underlined by some exceptional auction results over the weekend. 

Toop&Toop sales director and auctioneer Bronte Manuel sold two properties under the hammer on consecutive days, with both attracting high levels of buyer interest. 

A character villa at 55 Winchester Street, St Peters fetched $1,415,000, while a renovated bungalow at 19 Alma Road, Fullarton sold for $932,000. 

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“Both auctions were very strong and achieved great results,” Manuel said. 

“We’re certainly seeing plenty of interest for the right type of properties.  

“With stock levels still being relatively low in South Australia, that often can translate to excellent sales results. 

“These two auctions are testament to that.” 

Manuel said a trend appeared to be developing where the traditional ‘spikes’ in supply were less dramatic. 

“People have generally expected a rush of new listings after Christmas, after Australia Day or at the start of spring,” he said. 

“But what we’ve observed over the past few years is that supply has become more level. 

“Those who are waiting for a sudden influx of fresh listings could be disappointed.” 

The St Peters property, a solid stone-fronted four-bedroom home on 947m2, was listed by Toop&Toop sales partner Vanessa Grant. Located in one of Adelaide’s premier suburbs, it attracted strong pre-auction interest and sold accordingly. 

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The auction for the Fullarton property, a four-bedroom home nestled on one of the suburb’s most popular streets, drew a crowd approaching 100, including a number of registered bidders. Eight of those place bids before the home was eventually sold for $932,000. 

Peter McMillan said the decision to sell the home under auction conditions had proved a winning one. 

“Auction can be a very powerful selling technique when several parties are interested in a property,” he said. 

“This particular property was beautifully presented and in a tightly held location. 

“There were a number of people who wanted it and selling under auction conditions allowed us to maximise its potential.” 

Toop&Toop