While it was sheer joy for those fortunate to win, it was yet another disappointment to frustrated potential homeowners who are struggling to get into a market saturated with hopeful buyers. A home on Winston Crescent at Glengowrie sold for $850,000 after being appraised in the $700,000 bracket.A bidder on the property, who did not want to be named, said they have been tirelessly searching for a home around the area for months.“I was really hoping this would be the one, but unfortunately today wasn’t our day,” they said.“It’s so hard to find a place at the moment and it’s really difficult having the money just sitting there when you’re ready and can’t do anything about it.”Agent of the Glengowrie property, Alex Lefty of Century 21 Millswood said three bidders were going toe-to-toe. “It’s a reflection of the limited amount of properties out there,” Mr Lefty said.“You have more people fighting for the property than what we’ve had in the past.”Overjoyed to have purchase a home after months of looking is Amy Hann, 43, of Thebarton, who bought a home on Crawford Street at Richmond for her mother who currently lives in Mount Gambier.It followed a “very difficult search” for the right house, Ms Hann said.“It was a frustrating time, and I feel for everyone who missed out,” she said.“There’s not a lot of supply on the market at the moment, and when something comes up it goes very quickly.”Ms Hann said it was an intimidating and drawn-out process, with thousands of people attending the same listings she was interested in.Also slashing the asking price was a home on Denman Terrace at Lower Mitcham, that was expected to sell for $695,000, before the hammer dropped at $912,000. Agent Janet Hanson-Smith, of Smallacombe Mitcham, said the home with “lots of potential” caught the attention of 38 registered bidders before the auction, with between eight and 10 bidding yesterday.“I had over 104 groups through to look at the property,” she said.She said the housing boom has been thanks to “shortage of stock, fear of missing out and low interest rates.”“It’s a goodpositive economic outlook for SA.” Other houses that sold above price guides and asking prices were at Parkside and Torrensville. The 1950s-built home on Clifford Street at Torrensville sold for $50,000 above reserve, while a home on Dunk Street at Parkside was appraised at $900,000 before selling for $1.16m.Mr Lefty said the difficulty for agents was to replace the homes they were selling, as demand could not meet supply in the current market.“We have to replace what we’ve sold but it’s hard,” he said.Mr Lefty shared the frustrations of buyers and said the lack of supply is frustrating to agents too.“Of course, we’d like to sell as much as we possibly can, and I feel particularly for first home buyers.”



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