Strong resale values and high demand for new dwellings has pushed house prices to new highs in Glynde.
A new suburb record was set in the tightly held northeastern suburb last week, following the auction of 54 Loader St, which sold under the hammer for $1.864m – $214,000 above reserve.
The sale price eclipsed the previous record holder by $195,000 and the suburb’s median house price by $670,000, according to PropTrack.
Utilised as an investment property for many years, selling agent Linda Clemente of Ray White Norwood said the home’s locale, corner positioning and generous 915sqm lot size, had made it an attractive offering to private buyers and developers.
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54 Loader Street, Glynde attracted a massive crowd at auction.
The corner allotment sold under the hammer for $1.864m.
The home will now make room for two new ones.
“Glynde is a very up-and-coming suburb, just tucked away there in the (north) east and developers and builders are really seeing a lot of evidence of really firm resale value,” she said.
“I saw over 40 people throughout the campaign, which is a lot for a development site as people don’t actually have to see the home if they are planning on knocking it down.
“As a result, we ended up with 52 registered bidders on auction day, 12 of which were active.
“We assumed it would fetch around $1.5m but obviously it sold for much more than that.”
Ms Clemente said a local developer, who currently has six other building projects on the go around Adelaide, placed the winning bid.
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The home is currently utilised as a rental.
The home’s kitchen.
The fence has seen better days.
“So this is going to be his next project and they are looking at putting two new homes on there,” she said.
“Corner allotments are very popular with developers and there’s been a few recent sales like this one in the area, but they only achieved around $1700 to $1800 per square metre while this one exceeded the $2000 per square metre mark.
“So it was a really good result and we’ll have to wait and see what this price will mean for the future of the suburb.”
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