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Auction Results – February / March

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Auction Results – February March

The trend of consistent and favourable weeks of real estate continues, with some values dipping slightly but not beyond other recent negligible ebbs.

Of 119 scheduled auctions, 84 results are available. Very similar to the previous week’s 111 scheduled and 81 recorded.

56 of these sold, producing a clearance rate of 67%, down from last week’s 77%, more akin to mid-February’s 68%. This remains a solid, if not exceptional, rate.

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The average selling price of homes was $685,919, surpassing the previous week’s $681,137.

This comes in the wake of Adelaide’s median house value reaching record highs in 2017, indicating of the robust health of last year’s market, as 2018 is maintaining the same consistency so far.

Far beyond the median are the five properties which exceed $1 million this week, the three most lucrative of these sporting character features and convenient surroundings.

Third-highest of these is 82 East Terrace, in Henley Beach, represented by Linda Van Hooff of Ouwens Casserly Real Estate. The property is a 1915 character home, a sizeable lot featuring refined modernities. The proximity to the beach and Henley Square combine to earn a figure of $1,370,000.

Next is the $1,420,000 sale of Wayville home 74 Rose Terrace, facilitated by Michael Brock of Harcourts Real Estate. Another home imbued with heritage authenticity, boasting City proximity, impeccable layout and the ever-desirable solar-heated pool.

The most lucrative sale of the week is that of 2 Martin Avenue, Fitzroy. Tim and Megan Thredgold of Toop&Toop Real Estate, delivered this home to its immense $1,600,000 price-tag – of these three heritage properties, this is the home which holds most closely to its 1925-era roots.

It is little wonder that this property earned such an impressive figure, especially given its location. According to data from CoreLogic, Fitzroy is one of Adelaide’s ten most consistent million-dollar suburbs, its median staying above $1 million for six of the past eleven years.

Between the location, expansive floor-plan and authentic foundations, the unmissable nature of this investment is evident.

On the back of 2017’s robustness and with these figures holding strong, a consistent and lucrative 2018 looks likely to be in store.

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