Forestville auction kick-starts 2020 on high

The South Australian property market is set for a buoyant 2020 if a Forestville auction on Saturday is an early guide.

The home, a stylish three-bedroom villa on 417m2, had attracted strong interest
since being launched on January 1, with 140 groups attending open inspections
despite being held during a traditionally quiet time for the real estate industry.

“We were overwhelmed by the response,” Toop&Toop co-listing agent, Matt Kenny, said.

“Inquiry levels were extremely high from when we launched the campaign on New Year’s Day and we received several offers prior to auction.”

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Despite the significant interest, the auction, the first of the year for Toop&Toop, delivered a result well beyond expectations, with 26 registered bidders vying for the home nestled just
off Anzac Highway on the fringe of ever-popular Goodwood.

There was an opening bid at $600,000 but offers quickly escalated beyond $700,000. Three buyers were still active beyond the $800,000 mark before the home eventually sold under the call of the auctioneer, Toop&Toop Sales Director Bronte Manuel, for $818,000.

“We had a very strong campaign leading up to the auction but I don’t think anyone could have predicted a result like this,” Kenny said.

“The vendors are understandably ecstatic and the buyers, a young professional couple, are thrilled to have secured the home. They loved its character and they loved the location.”

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Kenny said the decision to list the property so early in the year could have been a factor in the campaign’s success.

“There is usually very little new stock on the market in the first weeks of January … but this auction shows there’s no shortage of buyers,” he said.

“At Toop&Toop, we hit the ground running from January 1 and this auction result shows that has paid dividends.”

Kenny also predicted the popularity of the tightly held suburb of Forestville was likely to grow in 2020.

“It has been an under-valued location to some degree but, judging by today’s result, that’s changing rapidly,” he said.

“It’s peaceful but still very convenient to a lot of amenities.

“This home, for example, is a very easy walk to a tram stop, the Adelaide CBD is only a few kilometres away and Glenelg is nearby, too.

“It ticks a lot of boxes."

TOOP+TOOP