'More than a fairytale': Brisbane family snags perfect family home at auction

Perfection was the goal for families bidding at 5 Boambillee Street, Mount Gravatt East.

With 15 registered bidders, four were active with slow but determined bidding. Each was determined to make it their home, but winning bidders Liam and Lauren Busuttin were on a mission.

Mr Busuttin said: “We had always said, we’ve got a daughter, we’re looking but we wouldn’t settle for anything under what was perfect.”

Bidding without his wife to start with, Mr Busuttin held back until bidding picked up. Selling agent and auctioneer Grant Boman opened the bidding at $600,000 for the four bedroom property.

After an initial few bids from two couples, Mr Busuttin jumped in and eventually knocked out the other three parties with his bid of $775,000, $35,000 above the reserve price, but still less than he expected to pay.

The hammer fell as Mrs Busuttin arrived with daughter Eloise.

“Mate, it’s more than a fairytale, it’s unbelievable,” Mr Busuttin said. “People said don’t get emotionally invested but it was hard not to.”

“We thought … because we owned our own home we weren’t in a great rush, but I guess [when] you find something you like, you think, how many people are going to be after it?” Mrs Busuttin said.

Selling agent Grant Boman, of Ray White Mount Gravatt, said there was particularly high interest in the four bedroom family home.

“It’s been really well received by the market,” he said. “It’s got everything a family would ever want.

“We’ve had nearly 130 groups through.”

Brisbane’s outer suburbs had recently experienced a shortage of large free-standing houses to raise a family in, he said.

“I think family homes in a certain price bracket are really hard to find,” he said. “So I guess freestanding houses for families are hard to find, which is why you’re seeing such buyer interest.”

Many families would be price out of a house of the same size just a couple suburbs over, like in Greenslopes or Holland Park “which is maybe becoming a little bit inaccessible for families”, Mr Boman said.

Demand for that particular type of home is so strong, buyers are willing to pay a premium ahead of auction to secure them.

Mr Boman said he sold neighbouring 10 Greycliffe Street in Mount Gravatt East for $775,000 on Thursday afternoon, days before it was due to go to auction.

“[The buyers] didn’t want to risk going to auction, and they made a strong offer,” he said.

❑ Only a few kilometres away, another family home was up for sale in Upper Mount Gravatt, in Queensway Street.

The auction for the four bedroom home attracted an audience of about 80 people, with 17 registered bidders.

The auction at 9 Queensway Street, Upper Mount Gravatt. Photo: Jim Malo

It kicked off at $725,000, with several parties taking part in the bidding. The price rose fast to $875,000 where it stalled and after a short pause it went on the market for $880,000.

After a few more bids, it sold under the hammer to a couple who did not wish to be named. They told Domain they planned to live in the house with their two sons.

Place agent Mia Chen said the lack of supply, combined with sought-after school catchments, was causing fierce interest in Mount Gravatt.

“It’s because there’s not a lot of this product in this area,” she said. “Wishart Primary and Mansfield State High are two of the most desired public schools in the … community.”

9 Queensway Street attracted lots of buyer interest. Photo: Supplied

Family homes in the Mount Gravatt area have been in high demand, Ms Chen said.

She believed the sale would inspire other locals to try to get a piece of the action.

“It has shown a lot of people who own land in that area that this is an option if they want to subdivide their property in the future,” she said.

Vendor Calvin Ling said he was happy with the sale.

“As you can see, the crowd here is pretty good,” he said. “It just goes to show if you put it in the right area, the crowd is going to come check it out and I’m pretty happy with the result.”