First published 27 Oct 2026, 8:23am
If you ever needed proof of Adelaide’s market slowdown – look no further than 20 East Ave, Northfield.
The knock-down three-bedroom Public Trustee property went to auction last week, and despite several valuations from two months ago putting its value above its $900,000 quoted price guide – which its selling agent said it would have most likely achieved at the time – it failed to sell.
Selling agent Andrew Simpson of OC Real Estate said the sale, or lack thereof, was a good barometer of how the market was travelling.
“Based on the lack of inquiries on this one, I’m not surprised it didn’t sell, because I rang a couple of my developers, and they’ve all said, really, we want to do ones into threes now, and they just think that market in Northfield has just got far too hot,” he said.
The home was extensively damaged. Supplied
The vandalised living room. Supplied
That sort of thing doesn’t happen by accident. Supplied
“That market has retracted due to the competitors of the developers between 6 to 12 months ago now realising that sales were not as anticipated.
“This one’s got an 18.2m frontage, so it’s a compliant development.
“It’s 780sqm, a rectangle shape with no easements, the house is a hindrance and there’s development all around it.”
The home has been extensively damaged throughout, courtesy of vandals and squatters Mr Simpson said the police had to evict.
“It’s a shame it was damaged to that extent because were it not the owners could have got some holding costs whilst they got approvals and everything else like that done,” he said.
Not even the kitchen was spared. Supplied
This bedroom has copped it. Supplied
And the kitchen wall has seen better days. Supplied
Mr Simpson said there had been a distinct shift in the market.
“The number of people coming to opens has dramatically dropped and people are being rather cautious because they really just don’t know whether they’ve hit the bottom of the market,” he said.
“If they get a bit emotionally involved in something they’ll go for it but if not they’ll probably just sit and wait and see if there’s a price drop, they’re not even making low-ball offers.
“The last time this section of the market saw anything like this was the early 90s, so none of us have seen anything like this.
The carpet has been pulled up. Supplied
And someone decided the bathroom needed to suffer. Supplied
“There would have been a brief moment when the GFC hit but that was only for properties above $300,000, but then Kevin Rudd gave the $15,000 grant out and that spurred the bottom end.
“So the bottom-end market has not seen a property market like this since the early 90s and that’s the last time we’ve probably an official recession – the recession that we had to have, as Paul Keating framed it as, due to their currency policy getting interest rates to 18 per cent.
“So really that’s the last time we’ve ever seen a market of this type of nature.
“And that’s probably a bit early to call now, because the figures probably don’t yet support it, but believe me they will.”
Despite the house, the block offers promise. Supplied
It’s got a decent backyard. Supplied
With a shed and everything … Supplied
But yeah, that house has to go. Vandals have done a number on it. Supplied
Mr Simpson said Northfield offered some amazing opportunities due to its position and its rapid redevelopment and gentrification.
“It’s easy to access the city, it’s got good schools with Roma Mitchell and Northfield Primary just there as well, so it’s a great area in fact the north has some serious upside,” he said.
As the property was passed in, it is now back on the market via private treaty with a price guide of $900,000.
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