What’s the value of a view?
Arguably tens of thousands of dollars if the recent sale of this humble Vale Park home is anything to go by.
The 1960s-built brick home at 12 Stewart Ave attracted dozens of potential buyers to its opens and 10 registered bidders to its auction on the weekend.
Advertised with a price guide of $590,000, the deceased estate property ended up selling under the hammer for $693,000, surprising the selling agent, Damian Willis of Ouwens Casserly Real Estate.
He attributed the home’s popularity to its location, directly fronting Linear Park, and estimated its park views added an additional 10 per cent to the end sale price.
“It was on a decent-sized piece of land — 622sqm — with a nice wide frontage,” Mr Willis said.
“But the really good thing was that it faced Linear Park.
“It’s directly opposite a park, right across the Torrens, with uninterrupted views — you could literally see people riding their bikes and jogging all the way along the park and into the city.”
Mr Willis said a similar house without a view was auctioned “around the corner” on Cambridge St the same day and sold for $618,000.
The Cambridge St property was set on a slightly smaller 602sqm corner block, and was in slightly poorer condition, he said.
Mr Willis said the Stewart Ave property attracted about 70 people to its opens, many of whom already lived locally.
“The couple who bought it live a few streets away and have always had their eye on this street,” he said.
“It was really all about the location for them.”
He said the property, which had not been updated for about 20 years, had subdivision potential but understood the buyers intended to use the site for a family home.
Mr Willis said it was in good enough condition to rent out, but most of the potential buyers were developers or families looking to knock down and build their dream home.
The three-bedroom property included original timber floorboards, a 1960s-style blue bathroom in good condition and grassed rear yard space.
Vale Park sits just under 8km north of the Adelaide’s CBD, according to Google Maps.
CoreLogic lists its median house price as $750,000.