Eye-watering price for city fringe stunner

Buyers are shelling out mega bucks to live in Prospect, with one real estate agent predicting sales records for the inner-city suburb will continuously be broken in coming months as homes eclipse the $4m mark.

An eager buyer recently forked out an eye-watering $4.06 million (plus a whopping $217,130 in stamp duty) for a five-bedroom character home at 31 Willcox Ave according to Lands Title data, surpassing the previous sales record in Prospect by $210,000.

But selling agent Marina Ormsby, of Williams Real Estate, expected the record to be short-lived and said more buyers were now willing to fork out upwards of $4 million for a home in the area.

She said it was likely another address in Prospect – which she declined to disclose – would eclipse her sale when it settled in coming weeks and that other upcoming house sales would continue to set new price records.

The home’s stunning pool. Supplied

The tennis court. Supplied

And the grand facade. Supplied

“There are certainly transactions that are at that upper level of the market in that (Prospect) area,” Ms Ormsby said.

“The demand for the suburb has definitely increased. Prospect has a lot of great restaurants and great cafes but also there’s the rezoning for Adelaide High School and (Adelaide) Botanic High – they’re all attractive from a buyer’s perspective.

“The demand is pushing prices up. You are going to find that $4m+ is going to become the norm … with more property in that (price) vicinity.”

The open-plan kitchen, dining and living area. Supplied

A closer look at the kitchen. Supplied

Ms Ormsby, who sold the Willcox Ave property while working with Fox Real Estate, said it was bought by a local family who had been looking for a home for “quite some time”.

She said the family had been drawn to the home’s proximity to the city and quality schooling.

Built in 1925 and set on an expansive 1,820 sqm block, the home features a full-size tennis court and an inground pool.

It boasts several heritage elements, including polished timber floors, decorative ceilings, leadlight bay windows and open fireplaces.

A private-entry study provides the ability for a home business set-up, while an open-plan family and dining area has a stunning, fully-equipped kitchen.

Ms Ormsby said the home was just a short stroll to Prospect Road, Prospect Oval and the Memorial Gardens playground.

One of the luxe bedrooms. Supplied

The grand entrance hall. Supplied

And a sparkling bathroom. Supplied

“I’ve been fortunate to see some very beautiful homes in Prospect – this is certainly one of them,” she said.

“It’s on one of the best streets in the area, on a large landholding and it had the pool and tennis court – it ticked a lot of boxes.

“My price expectation (for the sale) was ultimately where the market was in the end. We had a lot of interest and … I knew we were absolutely going to get that (record-setting price).”

The previous Prospect sales record was set in 2022, when Ms Ormsby sold 4 Willcox Ave, several doors down from her recent sale.

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