It's hammer time! Brisbane auction results live

An enormous Queenslander with strong land-banking potential in inner-city Paddington has fetched one of the highest auction prices in Brisbane this weekend at $3.7m. LIVE BLOG

15 Ranley Terrace, Paddington

We've been live-blogging the top property auctions across Brisbane for Saturday. Catch up with all the action below!

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Updates

5:57 pm October 1, 2022

Massive $3.7m sale of unrenovated Queenslander

Sophie Foster

15 Ranley Terrace, Paddington, sold for $3.7m.

An enormous Queenslander with strong landbanking potential in inner city Paddington has fetched one of the highest auction prices in Brisbane this weekend at $3.7m.

The four bedroom, three bathroom, three car garage property at 15 Ranley Terrace has dual living potential off its L-shaped block.

Ray White Paddington agent Max Hadgelias, who marketed the property with colleague George Hadgelias, said three bidders registered for the auction, two of whom were most active.

Ray White Paddington agent Max Hadgelias said prestige buyers were growing in confidence.

He said the character home attracted a lot of investor interest, with the winning bidder a local who plans to retain the property.

“Rather than dealing with 8-10 bidders like we were a year ago, we are dealing with two to three bidders. All you need are a handful of genuine bidders to achieve a great result, which rang true at today’s auction.”

Auctioneer Justin Nickerson of Apollo Auctions saw bidding open at $1.5m, rising in $500,000 increments, with a bit of negotiation along the way.

The kitchen of the $3.7m home.

“The major drawcard was the hilltop position and the huge block size particularly for Paddington,” Mr Hadgelias said.

“The sale was a deceased estate, so we were liaising with family members based in Sydney. It was bittersweet for the family however they decided it was the right time to sell.”

He said there was "great confidence in the local area as well as the Brisbane market" still across prestige sales. "I've been involved in a few prestige sales above $3m in the last fortnight. There's strong buyer activity which is wonderful to see."

So close to the Brisbane CBD you could walk there.

5:21 pm October 1, 2022

Eleven bidders push 'absolutely no work' home past $3m

Sophie Foster

34 Vale Street, Wilston, sold at auction for $3.1m.

A fully renovated Queenslander on a double block has smashed past the $3m market at auction Saturday.

Eleven bidders registered for the auction of the five bedroom, three bathroom house at 34 Vale Street, Wilston, which sits on an 810sq m block.

The home, which has city skyline views, was marketed by agents Alistair Macmillan and Sam Hagen of Ray White Wilston as requiring "absolutely no work".

Auctioneer Phil Parker of Ray White saw five bidders actively pursue the property watched on by 150 people.

Bidding opened at $2m, rising in $100,000 increments until it hit $2.8m, when it jumped in two $50,000 lots.

Part of the crowd at the auction.

“The auction paused momentarily at $2,900,000 and then quickly rose until the hammer fell at $3.1m,” Mr Macmillan said.

“The seller had owned the home for 18 years, where they lovingly renovated it and raised their family. We sold them an original Queenslander a few years ago which they are currently renovating.”

“The buyers were a young family with two children, who had been searching for their dream home for over two years. We are thrilled for everyone involved.”

Direct line of sight from the kitchen to the pool was important for young families.

He said of the 11 registered parties, most were locals looking to upgrade to bigger houses on bigger blocks.

"All the buyers were young families, it was a configuration particularly suited to a younger demographic, with direct line of sight from the kitchen to the pool."

Most of the buyers on the hunt were also "second home buyers possibly even third", he said.

"Eleven bidders is one of the highest registrations we've had. Despite the negativity, values have increased by around 30 per cent and maybe they've come back 5 per cent. The vast majority of buyers are buying their principal place of residence that they are planning on living and owning for the next 10 to 15 years, so potential adverse short term issues are of less consequence."

4:57 pm October 1, 2022

Renovation incomplete, but Qlder still drew seven digit price

Sophie Foster

The sellers of 77 Simpsons Road, Bardon with their agent Judi O'Dea (centre) after landing the $1.421m sale.

A three bedroom, two bathroom Queenslander has fetched $1.421m under the hammer in Brisbane despite requiring renovations to complete it.

The property at 77 Simpsons Road, Bardon, is a massive 904sq m residential blockwhich drew six registered bidders, four of whom were active during the auction.

Ray White Paddington agent Judi O’Dea, who took the property to market with colleague Kleimeyer, said the huge renovator on the main road of Bardon drew a big crowd with three bidders pursuing it strongly to the end.

“The winning bidder in the end was a local Paddington-based developer who will restore the home beautifully, and he was up against two owner occupier bidders. It is a traditional 1920s Queenslander and its potential for restoration is endless."

The massive 904sq m block drew six parties out even though renovations were not complete.

She said of the six registered bidders, two were developers, with the rest owner occupiers which was "very encouraging".

"It's a good sign, an important sign in the market at the moment, to see owner occupiers out in force for renovators again. We were very encouraged with that."

She said the owners had begun some renovation work but did not complete it.

"But the shell was absolutely beautiful," she said. "It was really encouraging to see that people still have the heart for serious renovation because it will cost a bit to get that house looking magnificent."

77 Simpsons Road, Bardon, sold for $1.421m.

Ms O'Dea said there were some very strong results across the board on Saturday which was great.

"It was extremely encouraging to see results in these good suburbs. They are holding their prices and people are investing in renovators in a big way."

"The market's not going to remain jammed, in three years' time things will have sorted themselves out and people are taking a longer view. People can see things happening. If you've grown up in Brisbane like I did, it's barely recognisable, so much is happening on the ground."

4:24 pm October 1, 2022

Christmases come at once for corner store owners

Sophie Foster

The corner store was home to two businesses Real Christmas Trees and Jubilee Framing.

A traditional neighbourhood store that houses what was once Brisbane's "largest authentic Christmas tree retailer" has sold for a solid seven-figure sum with residential development potential.

Located just 6km from the Brisbane CBD, the Ashgrove General Store was built circa 1925 according to agent Peter D'Arcy of D'Arcy Estate Agents and was once the hub of the neighborhood.

High ceilings, VJ board, unpolished pine floorboards have all been maintained in the commercial character building, which subject to council approval has potential to add a further 450sq m – of which 250sq m was non-residential and 200sq m residential.

The property was built circa 1925.

The property has housed two businesses for the past few decades including Real Christmas Trees and custom picture frame business Jubilee Framing, with the backyard full of workshops for framing as well as storage for Christmas decorations.

Around 30 people turned up to watch the auction which drew five bidders, opening at $700,000. Bidding progressed in $25,000 and $10,000 increments until it reached $960,000 when Mr D'Arcy's new grandchild Vivie delighted the crowd with her own version of a bid during one silent moment.

Bids then progressed to $995,000 when the auction was paused for discussions with the owners as well as multiple bidders.

The property has glimpses of the Brisbane City skyline off its backyard.

When bidding reopened it passed the million-dollar mark, going straight to $1.07m, then rose in $10,000 amounts with nine more bids taking it to $1.21m which is where it sold.

The owners had paid $95,500 for the 706sq m property in January 1988, and were well pleased with the result.

3:26 pm October 1, 2022

Five bedroom renovator sells for $678,000

Sophie Foster

The house is just over 12km from the Brisbane CBD.

A five bedroom renovator just over 12km from the Brisbane CBD has sold for $678,000 after a five-way battle between buyers.

The home at 19 Pilbeam Place, McDowall, was listed for auction with a four week campaign aimed squarely at investors or those with renovation experience, with all offers considered.

Agent Kyle Pitman, who marketed the property with colleague Garry Price of The Agency Brisbane said the home desperately needed a makeover.

"We had about 22 parties come through and got five registered bidders," Mr Pitman said. "They were purely investors, one interstate."

The house is set on a 634sq m block.

"The property was in pretty bad shape, and it was to be sold to someone who could renovate it."

Bidding started at $550,000, rising in $20,000 lots until it hit $640,000. The offers then rose in $5,000 and even $1,000 amounts, before closing at $673,000.

Mr Pitman said for certain properties it was worthwhile going to auction to get the best price possible.

The property needs a bit of work but was recognised for its potential by investors.

"It's probably the best way to get the best out of the market, though it is very property specific."

McDowall has seen 77 houses sold in the past 12 months with a median price of $978,000. Prices in the suburb have grown 30.4 per cent in the year to September.

12:55 pm October 1, 2022

Sizzling property: Sold in 20 minutes

Sophie Foster

This Moorooka home sold in 20 minutes during auction.

A three bedder with development potential in inner city suburb Moorooka has sold in 20 minutes after four bidders registered for its auction Saturday.

Three of the parties were local Brisbane first home buyers in their 20s while the fourth was a second home buyer from interstate who plans to move to Queensland.

Bidding opened at $500,000, progressing well until coming to standstill at $600,000. It then went to $625,000 in front of a crowd of about 50 people, moving slowly towards a level the sellers were comfortable with, hitting $650,000, $651,000 and then finally closing at $655,000 which it sold at.

It was a fight between a local first home buyer and the interstate second home buyer in the end, with the SHB emerging with the sale.

The home was built 60 years ago.

Real estate agent Nicholas Stankiewicz of NS Properties Brisbane said it was a two and a half week campaign for the property which has good development zoning.

"This was the first time the property was ever offered to market. It was built 60 years ago. It is zoned for development but the people that bought it want to renovate the home," he said.

Mr Stankiewicz said it was good to see the property sell today despite commentary around interest rates.

"It's fantastic that it sold today under the hammer especially with all the negativity around interest rates rising next week. Now is a good opportunity for buyers to buy because sellers are being realistic."

The property is in original condition.

"There might be some negativity around rate rises but ultimately what we're seeing is positivity for buyers. There has been a shift in the last few months. Two years ago, properties were selling sight unseen to interstate buyers including out of Adelaide or Perth. Last year was more Aussie expats out of Hong Kong, Singapore – Australians in lockdown who decided to move back. Now recently we've seen a comeback by local purchasers who are now actively hunting and understanding pricing over the last few months and bidding with confidence. It's a complete roundabout turn."

"I sell about 60 properties a year. This one sold in 20 minutes."

11:52 am October 1, 2022

Trending: Brisbane second home buyers out in force

Sophie Foster

3/26 Dorinda Street sold under the hammer for $585,000.

Three sets of young second home buyers fought it out for a 137sq m two level townhouse in inner Brisbane suburb Greenslopes Saturday morning.

The three bedroom, two bathroom 93sq m townhouse – just 6km from Brisbane CBD and 1.7km from Greenslopes Hospital – saw bidding open at $450,000, moving in $25,000 lots, before hitting $535,00 when it was quicker rising in $5,000 and $2,000 increments.

Real estate agent Alex Rutherford of Place New Farm said all up 20 bids were case for the property at 3/26 Dorinda Street before it sold under the hammer for $585,000.

"It was a good auction, three registered bidders, all participated, and it sold to a young couple. All bidders had properties already and were looking to upsize, and all local."

Young second home buyers are on the move, making the most of the rise in their first property values across Brisbane.

The property sold above reserve after around 40 groups went through open homes during the campaign.

"It was a really good healthy campaign," Ms Rutherford said.

"A lot of second home buyers are out now. I think buyers are really seeing that they can use their first property as an investment and moving to the next size."

Greenslopes alone has seen median house prices rise 38.8 per cent in the past year to $1.24m, with the median price of units sitting at $517,500 after having risen 24 per cent in the 12 months to September.

The circa 2000 two-level 137sq m townhouse is in a duplex setting, with internal garage access, remote control door, and timber paling fencing.

11:20 am October 1, 2022

Young family lands dream inner city home for $2.55m

Sophie Foster

This stunning Toowong Queenslander was renovated with a modern twist.

A young Brisbane family has won their dream home at auction, after upping their bid to $2.55m Saturday morning.

Christopher Davis and his family were among five bidders vying for the fully renovated home at auction in Toowong, which drew a crowd over 60 people, including the young couple's parents and family.

Mr Davis said he and his wife – both of whom are young professionals working in Brisbane – own a home in Bulimba which has suited them for about seven years – but found they needed more space and a quieter area with their two sons reaching school age.

The home has a modern extension and has been fully renovated.

"With our boys growing up, we wanted to change where we are. We've been looking in this area and a couple of others like Indooroopilly, St Lucia… We've just been looking slowly."

They spent the past six months "slowly" watching listings and bidding their time, refusing to rush the process or panic.

"Just persistent and consistent. If you're not too stressed about it, it helps."

The couple plan to rent out their Bulimba home rather than sell it, and are looking forward to moving to Toowong – close to the children's grandparents who live nearby in Taringa.

The young couple that bought their dream home close to their children's grandparents.

Adcock Prestige Queensland principal Jason Adcock called the auction, which saw solid bids in the tens of thousands, knocking back smaller increments.

"We had more than 100 groups of people through the open houses. It was probably the most hotly contested property that I've had for about six months," he said.

"It's the position, at the end of a cul de sac, four and a half kilometres to Brisbane CBD, completely renovated with a modern extension on the back. It ticks all the boxes for all families. It doesn't get any better."

The sellers – who had paid $1.715m for the home four years ago – were pleased to negotiate when bidding paused at $2.45m.

The young family then decided to up their bid to $2.55m which was called three times and sold under the hammer.

PropTrack data shows 73 houses have sold in Toowong over the past 12 months, with a median price of $1.4m. Prices in the suburb have jumped 24.4 per cent in the past year for houses there.