Kensington home sold for $859,000 more than it did last year

With 230 homes taken to the auction last week, Adelaide has recorded its busiest week of the year so far, according to latest CoreLogic data.

A Kensington home that sold for $1,300,000 a year ago has sold again for $2,159,000 at auction.

The home at 13 Bridge St drew in 18 registered bidders with seven of them actively bidding for the three-bedroom home.

Resold in the same condition as it was last year, the home’s location and size in the sought-after suburb were big drawcards.

Located on a spacious 1128sqm block, the house boasts proximity to popular cafes, restaurants and boutique shops on The Parade as well as neighbouring Burnside Village. It is also close to quality schools in the area.

Built in 1964, the home has been sold as a renovator’s dream with potential for subdivision.

Brought to the market by Ray White Norwood’s Brandon Pilgrim and Damien Fong, the winning bid at auction was made by local buyers.

“The home sold in February last year and didn’t undergo any upgrades before it was listed again earlier this month,” Mr Pilgrim said.

“Given that it fetched $2,159,000 at auction, it’s a 66 per cent price increase in just 12 months.

According to CoreLogic data, the current median house price in Kensington sits at $1.19m with 19 properties sold in the past year.

The tightly-held suburb has recorded only 15 new listings in the past 12 months and the average hold period is more than 13 years.

Originally published as Kensington home sold for $859,000 more than it did last year

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