Six sales over $1 million, as Brisbane auction market warms up

By
Kell Andersen
August 18, 2019
42 Koondara Street, Camp Hill, in Brisbane’s east sell under the hammer for $1.75 million. Photo: Place Real Estate Agents Photo: Place Real Estate Agents

Six properties cracked the $1 million mark in Brisbane, in one of the most lively weekends for auctions in the city since the federal election. There were 68 auctions in total, with a reported clearance rate of 44 per cent.

One such auction resulted in the five-bedroom, six-bathroom house at 42 Koondara Street, Camp Hill, in Brisbane’s east, selling under the hammer for $1.75 million. Five registered bidders battled it out for about 15 minutes in front of a crowd of 60 people.

Bidding opened high at $1.65 million, then, when no one else was willing to bid higher, instructions were sought from the vendor. After negotiations, the bidding was opened back up and then sold to the original bidder.

Selling agent Joanna Gianniotis, of Place Estate Agents Bulimba, said the house had been very popular, with more than 100 people inspecting  it over its four-week campaign. She said the popularity can be chalked up to the way the house suited the needs of a modern family.

“Having an en suite for every bedroom, and having a walk-in wardrobe for every bedroom, and having multiple living areas, is obviously so desirable when you have an adult family,” Gianniotis said.

“The builders and the developers that are actually taking that on board and running with it are having fantastic results, because it’s what people are looking for. Because kids aren’t leaving home.”

The vendor was a developer who always planned to sell the house, while the buyers were a family from around the corner who were getting ready to expand. Both parties were happy with the result.

62 Victoria Street, Balmoral, was sold at a well-attended auction after being owned by the same person for more than 35 years. Photo: Ray White Ascot

Nearby, the gorgeous Queenslander at 62 Victoria Street, Balmoral, was sold at a well-attended auction after being owned by the same person for more than 35 years. About 70 people watched as 14 registered bidders squared off for it.

Bidding opened at $1 million, then jumped in lots of $100,000 and $50,000. After a few minutes, the house was sold for $1.73 million. Selling agent Damon Warat, of Ray White Ascot, said the home was always destined for a popular auction.

“This property had all the fundamentals of good real estate,” he said. “A good-sized block, elevated position, views, and lost of options and potential for people to add value to it.”

Warat said the vendor had decided to go to auction because that was how she bought the property originally.

“The owner bought the property herself standing out the front at the auction 35 years ago, and she wanted us to offer it the same way she purchased it,” he said. “The situation was reversed, and she offered it as a seller some 36 years later.

“She got to the stage that she felt that the home deserved someone else to take it to the next level.”

Luckily, the buyers have indicated their plan is to make improvements to the property and restore it to its former glory.

4 Comus Avenue, Ascot, was sold for $1.41 million in an unusual auction. Photo: Havig & Jackson Real Estate

On the other side of the city, the six-bedroom, four-bathroom house on 827 square metres at 4 Comus Avenue, Ascot. was sold for $1.41 million in an unusual auction.

Bidding opened at $1 million, with four registered bidders all vying for the property. Interestingly, the eventual buyer hadn’t even planned to register on the day.

“The wife had gone to work, and the husband had come,” said selling agent David Havig, of Havig and Jackson Real Estate. “Even though they were interested in the house, they hadn’t decided to purchase it.

“He wasn’t even going to register. So, I convinced him to register, then he was probably finding that in the beginning the bids were probably lower than what was expected. So, he jumped in and made a bid. Then, when it reached a certain level, he asked if he could phone his wife at work.”

After a few more bids, the buyer asked to speak to his wife again, at which point the auction was paused. Soon after his wife arrived at the auction, they cast the highest bid, and walked away with the keys. Havig said they were a family that had recently moved to Australia from the UK, and were very excited by the result.

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