Gorgeous landmark New Farm house sells for $2,195,000 at auction

After a string of strong weeks, Brisbane’s auction market slowed this weekend with just 58 properties going to auction for a reported clearance rate of 48 per cent.

Despite this, the four-bedroom, two-bathroom house on 637 square metres at 77 Langshaw Street, New Farm, in Brisbane’s inner north, sold under the hammer in a well-attended auction. 

About 70 people gathered in the picturesque Queenslander’s garden to watch six registered bidders attempt to walk away with the keys. 

Bidding opened at $1.8 million, and then rose in increments of $50,000 until it hit about $2 million. At that point, the auction was paused to seek instructions from the vendor, and the reserve was adjusted. 

After a vendor bid, the price jumped to $2,175,000 and further instructions were sought. The house was then put on the market, and sold for the final price of $2,195,000. 

Selling agent Brett Greensill, of McGrath New Farm, said nearly 100 people viewed the house over a four-week campaign. He said most were attracted to its condition and its suburban location. However, he did notice a pattern in the types of people interested in the home. 

“There were two clear types [of interested parties],” he said. “One was the renovator type, who had no intention of moving in, and would have immediately raised and renovated the property extensively. They would have described themselves as total renovators. 

“The second category liked it the way that it was. That is, pretty well as it was originally built, just beautifully maintained. It had a great feel. Everybody who came through said it had a great energy.”

The vendor had lived in the house for 30 years, and had decided it was time to downsize. The buyer was a family with two young boys, who intend to live in the house as it is. Both parties were thrilled with the result. 

Elsewhere, the five-bedroom, two-bathroom character house on 348 square metres at 20 Broomfield Street, Taringa, sold for $880,000. While the facade of the house speaks to a traditional bygone era, the home was actually built by the vendor in 1991, who has lived in it since. 

About 40 people gathered on the driveway to watch as seven registered bidders battled for the property. Bidding opened with a vendor’s bid at $700,000, then progressed in lots of $25,000 until the price hit $825,000. 

It crept up to $841,000, then to $860,000, at which point the house was called on the market. Two bidders fought it out from that point on, bringing the price up to its final point. 

Selling agent Tim Davis, of Ray White Sherwood, said there was healthy interest over the campaign, with 45 individual interested buyers and more than 60 inspections. He said most of the interest came from people looking to break into the market. 

“It was a combination of first or second time buyers, a young couple, and downsizers,” he said. “The house was five bedrooms, but only 348 square metres, so it was very low maintenance and [suited] both those demographics. It fell into an affordable price point for a lot of first or second time buyers.”  

The buyers recently sold their house in Ashgrove and were downsizing. The vendor was also downsizing and because she had also lived in the house next door moving from the area was emotional for her.  

Both parties were happy with the result, and Davis said they were sipping champagne together after the hammer fell.