Camp Hill ‘forever home’ sells under the hammer for $1.7 million

Brisbane’s auction market was exceptionally strong this weekend, with several properties selling for more than $1,000,000 under the hammer. The clearance rate was 41 per cent from 73 auctions scheduled.

At te biggest auction, 300 people piled into the backyard of the property at 39 Newman Avenue to watch 22 registered bidders battle it out for the three-bedroom, two-bathroom home.

Bidding opened at $1,100,000, and jumped in $100,000 lots until the price hit $1,600,000. After 15 minutes of fierce competition, the house sold for $1.725 million.

Selling agent James Curtain, of Place Estate Agents Woolloongabba, said the house was always destined to generate lots of interest

“Newman Avenue is Camp Hill’s best street,” he said. “It was a top of the hill [809-square-metre] block, two lots on separate titles, and the views from the front of the home [and] the side of the home were spectacular. In essence with a new build on it you could actually create 360 degree views.

“The house had development potential which was a big part of the equation, but equally there were parties bidding yesterday that were actually just interested in buying the house to live in.”

The buyers themselves had a long history with Curtain, and had been looking for a property like this one for some time.

“I actually sold them their first house in Norman Park 14 years ago,” Curtain said. “They then bought another house six years back in Coorparoo. From what they’re telling me, this is going to be their final family home. The one to live in forever. When the hammer came down and it was their home they were very excited.”

The vendors bought the house in 1971 then extended it in 1985, and have now decided to downsize. Curtain said it was incredibly satisfying auction for him personally, and also as the leader of the team working on the house.

“It was very satisfying to see how many people turned up to that auction,” he said. “To see the number of registered parties that were really genuine in their intent to buy that home.”

Elsewhere, the house at 48 Ellena Street, Paddington, sold in an incredibly fast and competitive auction. About 60 people watched as 16 registered bidders attempted to lay their claim on the three-bedroom, two-bathroom property.

The opening bid was $800,000, but within 45 seconds that price had jumped to $1,200,000. The property was called on the market at $1,210,000, then was sold under the hammer for $1.245 million.

“It was the fastest bidding I’ve ever seen in my 10 years of selling auctions,” agent Nicholas Given, of Ray White New Farm, said. “It was fierce bidding. All the buyers obviously had a strategy in place to bid hard and bid fast.”

He puts the intense popularity of the auction down to location, presentation and price.

“It’s a price bracket that’s very popular,” he said. “Anywhere in the $800,000 to $1,300,000 price bracket there are lots of buyers who can afford it. Paddington is a very popular suburb in Brisbane, and the house was immaculate.”

Given said the buyer’s situation was particularly unique, but she was incredibly happy with the purchase.

“She’s a young lady renting a property down the road, and she wasn’t actively looking,” he said. “But she just saw the property online and it presented really well. She just came for a look on the Thursday night and loved it, and ended up registering and buying it.

“[After the sale she was] very, very emotional, lots of tears. She was there with her partner and her father, and her father was bidding on her behalf.”

The vendors were selling so they could relocate to the Ballina area for a sea change, and were very satisfied with the result.

Meanwhile, in Wishart in Brisbane’s south the six-bedroom, three-bathroom house at 15 Kentwell Place sold under the hammer for $1,220,000. There were six registered bidders in total, and 50 people watched them compete for more than 20 minutes to secure the house.

Bidding opened at $850,000 then jumped in lots of $50,000 until it hit $1,150,000. At that point the auction stalled, but another bid at $1,200,000 was placed. That bidder then increased their bid to bring the house to its final price.

Selling agent Kosma Comino, of LJ Hooker Sunnybank Hills, said the buyers, a young family, share an interesting connection with the vendor.

“The funny thing is, the buyer who bought it is friends with the owner,” he said. “The reason they were friends with the owner was because they actually used to rent the house next door. So, they really wanted it, and didn’t want to miss out.

“They were so happy. They actually had their broker there, and family friends there to support them because they really wanted the house.”

The vendors were downsizing, and were happy the property could be sold under the hammer.

Comino said Wishart was incredibly popular with buyers, and some people refused to buy elsewhere.

“That area gets really good prices, even though the market has been tougher. We always have good auctions in that area” he said. “It’s the same people coming to every open home. They’ve come to all the opens in that pocket for over a year now. And they almost all know each other, it’s like a community.”