Just a fortnight after The Advertiser reported the runaway auction result of $2.65 million for a waterfront Port Willunga home, Ouwens Casserly agent Cynthia Sajkunovic sold businessman Mathew Fitch’s 1443sq m waterfront estate at 411 Esplanade, Henley Beach, for more than double that price. It was bought by an overseas buyer with family in Adelaide.
“I can tell you it sold in the mid-to-high fives – it sold five years ago for $4.85 million, that’s substantial growth in a market where there are question marks around growth factors at that sort of price, so it goes to show Adelaide is very strong at the top end,” Ms Sajkunovic said.
“I was very surprised with the amount of people looking in that price range. There is definitely demand for high-end properties in Adelaide.
“The main interest was from people wanting to live in it as it was. If you were wanting a home in Henley Beach on the beach with a tennis court, it was the only one with that.”
Ms Sajkunovic said Adelaide waterfront homes were cheap compared with similar offerings interstate.
“We are undervalued here compared to the eastern states, but we’re creeping up, and creeping up at a pace,” she said.
Further along the coast, sports commentator Bruce McAvaney’s home at 39 South Esplanade, Glenelg South, sports a “Sold” sticker, courtesy of Harris Real Estate agent Karen Dorman.
While she wouldn’t disclose the sale price, she said it was a quick sale and the property would change hands “from one lovely local family to another”.
“It was on the market for 43 days, whereas most properties along that coast sit on the market for approximately 100 days,” she said. “We had four interested parties and a lovely local family have bought it.”
Mrs Dorman said metro waterfront homes were highly prized and she expected prices would continue to rise.
“They don’t turn over a lot along that coastal area but when they come up their presentation is beautiful,” she said.
The do’s and don’t’s of buying property with Andrew Winter
Love it or List It’s Andrew Winter gives some handy tips for buying at both an auction and private sale.
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