Adelaide auctions attracting first-home buyers, families in droves

First-home buyers and families are out in force and they’re prepared to pay a million-dollar figure to compete with other cashed-up househunters for a home.

Several agents reported a strong turnout from first-home buyers and families at auctions over the weekend, with some coming out on top when the hammer came down.

First-home buyers snapped up a three-bedroom Cheltenham bungalow at auction on Saturday for $1.005m.

Ray White Port Adelaide’s Nick Psarros, who sold the property at 26 Second Ave with Niki Pittakis, said they were competing with three other registered bidders.

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The Cheltenham property at 26 Second Ave sold to first-home buyers on the weekend.

“The buyers were a couple of first-home buyers who had been looking for a while so it was wonderful to see them land the winning bid…” he said.

“The seller bought it from me, she was only the second owner.

“She’s lived there for nine years and has decided to downsize.”

A few suburbs over, a four-bedroom Woodville South house was snapped up by a young family for $1.311m under the hammer.

Selling agent Peter Kiritsis, of Ray White Woodville, said all seven of the parties registered to bid on the house at 49 Koolunda Ave were families.

“The bidders were all young families so it was quite cute watching all the young kids running around on the lawn during the auction,” he said.

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The Woodville South property at 49 Koolunda Ave was snapped up by a family.

“The sellers were a family who had outgrown the home and had bought a bigger home by the beach.”

Further south, a Mitcham character home fetched more than $1m at its highly anticipated auction.

While the buyer, who bid remotely, wasn’t new to homeownership, OC agent Robyn Coles said there were plenty of first-home buyers vying for the home at 39 Hill St.

She said they were seeing more and more first-home buyers and young families about, and they were coming prepared to spend big if they had to.

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The Mitcham property at 39 Hill St attracted lots of first-home buyers.

“We’re seeing a lot of parents being involved – the bank of mum and dad is helping a bit,” she said.

“And if they have owned before, they’re more cashed up to buy the next home.”

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