Two hits and a miss for three auctions for stunning Queenslanders

City views, approved renovation plans and one of Brisbane’s most sought-after postcodes weren’t enough to coax out the right price for a Hamilton house on Saturday.

The three-bedroom home at 135 Crosby Road sits high on a sloped block, with its rear deck and living areas directly facing towards the CBD.  

The plans being sold with the house would turn the cottage into a three-level home that capitalised on the view of the skyline.

Ray White Albion principal David Treloar said the home was in great shape as is, and didn’t need the full renovation to be liveable. “It’s a property that has been updated,” he said. “It can be lived in the current format.”

The vendors and their two children moved into the Queenslander nearly four years ago, and put the home up for auction because they were keen to move into an already-renovated home.

“They were weighing up whether to do the build, but they’re going to buy something established,” Mr Treloar said. “They both own their own businesses, they’re very time poor so for them it’s going to be better to get the finished product.”

Following the auction however, the pair were reconsidering. After a strong opening bid of $1.16 million, which was above what the couple paid in 2013, bidding quickly rose to $1.2 million, where it stalled.

After lengthy negotiations, a bidder upped their price to $1.21 million, but the home eventually passed in at $1.23 million.

Mr Treloar said it was good to see what the market was willing to pay, but the house was still worth more to the vendors. He said they were now reconsidering if they would  carry out the renovation themselves.

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“Potentially, yeah that’s an option for them. They did a lot of thoughtful planning to make a dream home,” said Mr Treloar.

“Ultimately there was plenty of competitive bidding,” he said. “Our job as agents is to deliver them the market, it’s their job to decide if it’s enough or not.”

Earlier on Saturday in Auchenflower, a five-bedroom, renovated Queenslander sold to a young family for $1,445,000.

Space Property‘s Judi O’Dea said the bidding was spirited. “Four registered and three of them bid,” she said. “Of course, it came down to two families with young children that fought for it in the end and both families live in the area and know how sensational it is to live in Auchenflower.”

The home featured a very modern kitchen and large deck. “It was a really lovely family home in one of the prestige streets in Auchenflower, it was two levels with two-street access,” Ms O’Dea said. “The renovation was done about six or seven years ago and it has a perfect north-easterly aspect. They took the cottage and raised the cottage up.”

In Graceville a five-bedroom renovated home sold under the hammerfor $1,675,000. 

Reworked in a style popular in the area, the modern take on a classic Queenslander clearly resonated well with buyers.

“It’s kinda differentiated itself from the other houses on the market,” Belle Property Sherwood‘s Michael Harvey said. “I’d call it a distinctive style and it represents the capacity that pre-46 homes have for renovation.”

Bidding for 31 Addison Street started at $1.2 million, and was a “fairly constant” pace, Mr Harvey said. He told Domain the vendors were “stoked” with the result.