'Ridiculously popular': Seller bursts into tears as 26 bidders push Brisbane knockdown $205,000 over reserve

A 'ridiculously popular' knockdown three bedder on Brisbane's southside kicked off a massive day of 123  auctions, with its seller in tears as 26 bidders drove the price $205,000 over reserve. SEE AUCTION REPLAYS & RESULTS

A 'ridiculously popular' knockdown three bedder in Brisbane's south kicked off a massive day of 123  auctions, with its seller bursting into tears as 26 bidders vied for her family home, driving the price $205,000 over reserve.

This as buyers just can't get enough knockdown rebuild opportunities across Brisbane at present, especially ones with city skyline views as the home in Holland Park West has, said real estate agent Dion Tolley of Place Bulimba.

He said the property was "ridiculously popular" with 14 bidders pre-registering, and a further signing up to bid today. "It was competitive bidding. opening at $900,000 and ended up at $1.755m. It was $205,000 over reserve."

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The owners live in a nursing home in the area now and the auction is expected to help ensure they enjoyed the rest of their days in comfort.

"Their daughter - the main person managing the sale - burst into tears when it was on the market (passed reserve price) which was pretty special. We had a reserve in mid $1m's and to see the result get to where it did brought a lot of joy because now the couple who originally owned the home have more money than what they thought they would to enjoy the rest of their lives."

Mr Tolley said no one in the family could decide what price to put on the home at 63 Bonneville Street, so they decided to let the market determine that at auction.

63 Bonneville Street, Holland Park West, has seen strong attention from not just the market but the neighbours.

The three-bedroom post-war home is on a 622sqm corner allotment.

While many neighbours had expressed interest in the property, it was renter in the area that won out in the end.

"It was actually a local family. They weren't neighbours but they were renting in Holland Park West. He was the first person who enquired about the property when it listed. At first I don't think he realised what the city views were like,  but then he was sold on them."

"What was even better was the bidding number he secured the property was 63, same as the address."

"I always said to the sellers that the typical buyer will be a developer, a builder, someone that lives in the area and wants to knock down and rebuild, or land bank and do that later. That was the typical demographic and it was highly contested among them."

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The Courier-Mail’s weekly auction list provided by PropTrack and realestate.com.au shows the Saturday auctions make up three-quarters of this week’s properties going under the hammer in Greater Brisbane, with 123 homes up for grabs.

Saturday’s auction breakdown is 40 four bedders, 36 five bedders, 35 three bedders, seven two bedders, one one-bedder and four blocks of land.

PropTrack economist Anne Flaherty said “buyers are benefiting from more choice this May, with the total number of homes heading under the hammer much higher than the same time last year”.

Brisbane’s weekly auction numbers are up 44 per cent year-on-year while regional Queensland’s auctions are up 16 per cent over the same time in 2023.

“The Reserve Bank’s decision to keep the cash rate on hold at 4.35 per cent will come as welcome news to buyers,” Ms Flaherty said. “While the decision to keep rates on hold was widely expected, there had been media speculation a rate rise was possible off the back of higher-than-expected inflation over the March quarter.”

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