‘None of us have seen this’: Northfield auction reveals SA slump

If you ever needed proof of Adelaide’s market slowdown – look no further than 20 East Ave, Northfield. The knock-down three-bedroom Public Trustee property went to auction last week, and despite several valuations from two months ago putting its value above its $900,000 quoted price guide – which its selling agent said it would have most likely achieved at the time – it failed to sell. Selling agent Andrew Simpson of OC Real Estate said the sale, or lack thereof, was a good barometer of how the market was travelling. “Based on the lack of inquiries on this one, I’m not surprised it didn’t sell, because I rang a couple of my developers, and they’ve all said, really, we want to do ones into threes now, and they just think that market in Northfield has just got far too hot,” he said. 20 East Ave, Northfield. Supplied The home was extensively damaged. Supplied The vandalised living room. Supplied That sort of thing doesn’t happen by accident. Supplied “That market has retracted due to the competitors of the developers between 6 to 12 months ago now realising that sales were not as anticipated. “This one’s got an 18.2m frontage, so it’s a compliant development. “It’s 780sqm, a rectangle...