Brisbane auctions: Moorooka house sells in three minutes for $720,000
Brisbane’s auction market held steady this week, with 55 properties going to auction and a reported clearance rate of 33 per cent, up three points year on year.
A two-bedroom, one-bathroom house at 54 Goodwin Terrace, Moorooka, in Brisbane’s south, sold for $720,000 under the hammer in a blindingly quick three-minute auction. Some 40 people crowded onto the property to watch as nine registered bidders battled it out for the character home.
Bidding opened at $500,000, and worked its way to $550,000. At that point, the price started jumping rapidly, before pausing briefly at $700,000 and then quickly selling for the final price.
Selling agent Karla Lynch, of Ray White New Farm, said there had been considerable interest in the property, with 81 parties through over the campaign. Five of the bidders registered before the day of the auction.
“Parties wanted to purchase it prior, but we thought it would be best to take it to auction and see what the market said,” she said. “It was non-stop.”
She said most interest was from families who wanted to get into the property market. This was true of the successful party, who “Facetimed” into the auction because they weren’t able to attend in person. Lynch said they had shown immense interest since the beginning of the process.
“She called up straight away within the hour that it had been online,” she said. “They were the first people to inspect it, and they just fell in love with it like everyone else did. It was a really great property to sell.”
Lynch said the strong interest in the house was probably because of its location, and street appeal.
“I wish that I could sell over there because it’s just a thriving market,” she said. “My experience is that Moorooka is the next suburb to boom. Particularly for first-home buyers, it’s great value.”
The vendors bought with intentions to renovate but ended up moving close to their family in Norman Park. They decided to sell after buying a property in Teneriffe. Lynch said they were happy with the result.
In the northern suburb of Newport, 33 Constance Court was sold in a hotly contested auction. The modern three-bedroom, two-bathroom house on 770 square metres features a 22-metre canal frontage, including a 12-metre pontoon with direct access to Moreton Bay.
About 30 people gathered at the gorgeous waterside property to watch for 40 minutes as three registered bidders attempted to walk away with the keys. Bidding opened at $1 million, and progressed in increments of $100,000.
The process stalled at $1.4 million, at which point negotiations began. After negotiations, the house was put on the market and promptly sold for $1,475,000.
Selling agent Andrew Carmpbell, of Ray White Redcliffe, said about 50 groups looked at the house over its extended six-week campaign.
“It was a mix of locals and people that wanted to get onto the canal. There was a lot of people from the inner-north suburbs of Brisbane that were looking for a total lifestyle change but still being able to commute.”
The eventual buyers were an older couple that were interested in the house for reasons altogether separate from those of the other buyers.
“[They] have friends in the street so that’s what pushed them to go higher,” Campbell said. “As fas I know, they don’t even have a boat to put on the pontoon. Everyone else that was interested was buying it for the pontoon.”
The vendor had been living between the bay area and Brisbane city, and had decided to move to a unit closer to their work in the CBD. Campbell said both parties were satisfied with the result.
Elsewhere, a three-bedroom, one-bathroom house at 16 Collinson Street, Runcorn, on Brisbane’s southside, sold at auction for $382,000.
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