![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
5/19 Park Rd, Kensington Park.
Buyers are snapping up units in Kensington Park quickly – and for top dollar – as house prices in the sought-after suburb climb further out of reach for many.
Ray White Burnside agent Damien Fong said the people looking to buy in the prestigious eastern suburb were competing to either get in or stay in.
With units the more affordable option, Mr Fong said they were always popular and attracted large crowds.
“The unit market is turning over quite quickly,” he said.
“There are a lot of very, very expensive houses in the local area and those people downsizing still want to stay local.
5/19 Park Rd, Kensington Park.
5/19 Park Rd, Kensington Park.
5/19 Park Rd, Kensington Park.
“They’re not getting that much change if they’re buying smaller (houses), it makes them want to put a bit more away.
“We’re seeing a few downsizers in the local area who are happy to pay for finished products in units.”
Latest PropTrack data shows the median house price in Kensington Park is $1,885,500, while it was $768,250 for units.
Mr Fong sold a two-bedroom unit on Park Rd at the weekend for $935,000, with more than 90 groups inspecting the property that overlooks Kensington Oval throughout its three-week campaign.
He said seven prospective buyers registered to bid on it, with the person who secured it being a returning local who had been living in the UK and wanted to be closer to nearby family.
About 70 per cent of those keen on the unit were downsizers, Mr Fong said, 20 per cent were first-home buyers getting financial help from mum and dad and 10 per cent were investors.
5/19 Park Rd, Kensington Park.
5/19 Park Rd, Kensington Park.
5/19 Park Rd, Kensington Park.
Those who missed out often turned to other areas because opportunities to buy in Kensington Park were few and far between.
“We try to get them into other properties,” Mr Fong said.
Property data shows there have been four unit sales in Kensington Park so far this year and 16 over the past year.
Meanwhile, the neighbouring suburb of Kensington Gardens recorded the biggest jump in buyer demand over the past year.
Latest PropTrack data shows the average number of key inquiries per property listing on realestate.com.au in the suburb rose 94 per cent to 92.9.
Key inquiries per listing are determined by prospective buyers’ “high-intent” actions on a listing, including emailing an inquiry, calling the agent or downloading documents.
It shows the level of demand among serious buyers who are ready to purchase a property.