Six bidders fight at $952k cottage auction in Australian home price hotspot

Six home buyers threw in a bid at the auction of an Adelaide cottage at the weekend, selling under the hammer for $952,000 despite cooler selling conditions. The home's circa-1911 facade was a drawcard for buyers, with bidding starting at $800,000 and eventually selling above reserve in what the selling agent said was a strong result for the area. Across Australia, there were 1,201 homes scheduled for auction last week, recording a preliminary national clearance of 44.9%, according to PropTrack.The two-bedroom house at 32 Henry Street, Croydon sold at auction for $952,000. Picture: realestate.com.au/soldAuction clearance rates have been sitting at softer levels nationally this year since the Reserve Bank started increasing interest rates, and the federal government overhauled negative gearing and capital gains tax rules for property investors. Adelaide continues to be one of Australia's home price hotspots despite cooler market conditions, with the median home price still 10% higher than a year ago.The property: The two-bedroom house at 32 Henry Street, Croydon sold at auction for $952,000 on Saturday 22 August. The charming single-fronted cottage sat on a 416 square metre block, w...