How much? $1.3m above reserve amid record year of auctions for Qld
It’s been the hottest year on record for Queensland’s auction market, with some homes selling for more than $1m above hopes. Here are 10 of the biggest over-reserve auction results of 2021.
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IT HAS been the hottest year on record for Queensland’s auction market, with some properties selling for more than $1 million above price hopes as Covid refugees and cashed-up local buyers sparked a bidding frenzy up and down the coast.
Here are 10 of the biggest over-reserve auction results in the state in 2021:
1. 2/6 Marine Parade, Miami
Sale price at auction: $4.51m
Amount above reserve: $1.3m
Retired AFL player Jonathon Patton pocketed one of the biggest under-the-hammer wins of the year when his Gold Coast beachfront villa fetched a staggering $1.3 million above the reserve price.
The $4.51 million sale of the four-bedroom Miami home was just one example of hundreds of properties across southeast Queensland that sold at auction for well above asking prices as buyer demand outweighed supply.
2. 30 Bulimba St, Bulimba
Sale price at auction: $3.9m
Amount above reserve: $1m
Just last month, a house in Bulimba sold under-the-hammer for $1 million above reserve with an opening bid of $3 million and 15 competing bidders.
3. 5 The Promontory, Noosaville
Sale price at auction: $5.51m
Amount above reserve: $810,000
This waterfront trophy home sold for $5.51m at auction, which was $810,000 above the reserve price.
The two-level, four-bedroom house at 5 The Promontory sold under the hammer after fierce bidding between four active bidders.
Darren Neal of Reed & Co, who marketed the property, said the auction attracted 11 registered bidders, with the starting bid opening at $5m and quickly increasing to $5.25m.
It ended up selling to a phone bidder from Byron Bay, which Mr Neal said was unusual.
4. 46 Jane St, West End
Sale price at auction: $1.56m
Amount above reserve: $610,000
The house had no driveway, no garage and broken stumps, but that didn’t stop it from selling under the hammer for $1.56 million — some $610,000 over its reserve price.
Ray White Wilston sales agent Holly Bowden marketed the house at 46 Jane St, West End.
“We held the auction with 80 people in the front yard, which is small, and there was good participation from at least 16 ofthe 32 bidders,” Ms Bowden said.
“It was a fast auction. It started at $1 million, which was above reserve, and it kept going.”
5. 12 Hunter St, Albion
Sale price at auction: $1.5m
Amount above reserve: $500,000
This four-bedroom, brick home fetched an eyewatering price at auction in September.
Craig Lea and Cayle Blaxland of McGrath Estate Agents marketed it as an ideal renovation opportunity.
6. 16 Bay St, Kedron
Sale price at auction: $1.285m
Amount above reserve: $435,000
This three-bedder had the same owners for 50 years before selling at auction for $1.285 million.
There were 15 bidders for 16 Bay St, Kedron.
The buyers, from Fitzgibbon, plan to renovate, not detonate, and move in.
“We went over budget with this one,” the buyers said.
Auctioneer Christian Hamilton started the bidding at $1.05 million, almost $200,000 above the reserve.
7. 8 Tillot St, Dutton Park
Sale price at auction: $1.425m
Amount above reserve: $325,000
Offered to the market for the first time in 40 years, this old charm Queenslander attracted plenty of interest at auction.
Being in the Brisbane State High School catchment helped push the sale price to $325,000 above reserve.
8. 59 Goss Rd, Virginia
Sale price at auction: $1.21m
Amount above reserve: $310,000
This property on a double block in Virginia came to the market for the first time in over 50 years in September.
The auction attracted 18 registered bidders, with the home selling for well above its $900,000 reserve price.
9. 12 Melbourne Ave, Camp Hill
Sale price at auction: $1.61m
Amount above reserve: $310,000
This elegant Queenslander in the popular suburb of Camp Hill sold for well above its $1.61 million reserve at auction last month.
The property was marketed by Michael Bacon of Place Estate Agents.
10. 11 Jolly St, Clayfield
Sale price at auction: $2.056m
Amount above reserve: $306,000
The auction of this double-storey, Hamptons style home at 11 Jolly St, Clayfield, attracted 12 bidders and a large crowd when it went to auction in October.
It sold under the hammer for more than $300,000 over its reserve to a Melbourne family.
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