Written by Brendan Simpkins
The Adelaide auction market has continued its strong start to open the year with an 80% clearance rate for the second last weekend of February.
Of the 30 auctions held over the two days, 24 properties were sold with an average sale price of $617,292.
After a recent string of seven-figure sale prices seen in previous weekends, properties were unable to crack the million dollar mark this time out.
The highest sale price of the weekend went to auctioneer Peter Fried and David O’Grady of Toop&Toop with their 3 bedroom home in Royston Park fetching $990,000.
Mr. Fried also had two properties held over.
Mark Fricker had a 50% clearance rate for the weekend with two properties selling and two held over, while Brett Roenfeldt had 4 sales and one held over.
AJ Colman had two properties sell prior to going to auction, with another three selling on the day.
Mr. Colman has been on fire in the early stages of the year, laying the foundations for another big 12 months for the independent auctioneer.
“February has been an explosive start to the auction year with 14 properties sold under the hammer from 16 auctions conducted by myself,” he said.
“Properties presented for auction at Fullarton, Klemzig, Netley, Stepney, Pennington & Kilkenny all sold substantially over reserve.
“Stepney saw 30 registered bidders with a total of 62 registered bidders across 5 auctions conducted on Saturday 11th February.
“The real standout was Kilkenny, a character home on a large corner allotment that saw 28 registered bidders and over 100 people in attendance, resulting in a sale price $80,000 above reserve.”
Mr. Colman’s Kilkenny auction can be watched on Facebook here.
Independent auctioneer Jonathon Moore had a 100% clearance rate for the weekend with 4 sales.
Mr. Moore said that February has been a quiet month for the auction market compared to this time last year.
“Auction numbers were up in January but down in February compared to 2016,” he said.
“Speaking with colleagues in Brisbane & Sydney, Auction number this year have taken off like a rocket so hopefully that momentum will flow on to us soon.
“Recently in heat wave conditions, we had a marathon Auction at Kidman Park, selling well above reserve at $540,000 with 12 parties registered and 6 parties actively bidding.”
*All results provided by the Society of Auctioneers and Appraisers*
If you wish to have your auction results included, please ensure your auctioneer is reporting their results to www.auctioneers.com.au
Peter Fried & David O’Grady: 114 Fifth Avenue Royston Park
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