7 Waldron St, Henley Beach South.
The new owners of a beachside home in one of Adelaide’s most sought-after coastal suburbs had their children in mind when they made the multimillion-dollar purchase.
They snapped up the four-bedroom Henley Beach South house at 7 Waldron St for $2.5m at auction.
Selling agent Anthony Fahey, of Ray White Henley Beach, said they purchased it to land bank for their children.
He said the fact that the property could be rented for a decent price until the children were older made it appealing.
7 Waldron St, Henley Beach South.
7 Waldron St, Henley Beach South.
7 Waldron St, Henley Beach South.
“That makes it a little bit easier to land bank,” said Mr Fahey, who sold the property with Samuel Parsons.
However, he said the buyers also had the option of bulldozing the house to make way for two to three new residences as well.
“The good high-quality properties (like this) are all selling well,” Mr Fahey said.
“We had four bidders and all four of them bid.
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“We did have some family buyers going pretty hard at it.”
The modern home is on a 832sqm block, has a pool and sauna, and is a short walk to the beach and William Atkin Reserve.
According to property records, it last sold in 2012 for $601,250.
7 Waldron St, Henley Beach South.
7 Waldron St, Henley Beach South.
7 Waldron St, Henley Beach South.
Latest PropTrack data shows Henley Beach South has a median house price of $1.78m after climbing 9.7 per cent over the past year and 34.3 per cent over the past three.
Mr Fahey said while some buyers were reluctant to purchase property amid so much uncertainty, particularly rising fuel prices and ahead of the federal budget, demand for homes was still high.
“There are some buyers who are a bit cautious, but we’re still turning over a fair bit of properties,” he said.
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