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It's hammer time! Brisbane auction results live
The agent marketing this stylish Noosa Waters home says he received 400 phone calls and 400 emails before the five-bedroom waterfront residence sold today for $10m.
With two full weekends before the election, Brisbane’s auction market still has plenty to offer with 100 properties heading under the hammer on Saturday and even more scheduled for next weekend.
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Affecting the market for the first time in 11 years is a 0.25 per cent interest rate rise that was announced by the Reserve Bank of Australia on Tuesday.
Some buyers in middle ring suburbs have indicated to agents this week that they will reduce their budgets, while inner city agents have said it’s not even a topic of conversation and inquiry levels have increased since the RBA's announcement.
Updates
Big day of auctions across QLD!
Kelvin Grove cottage sells for $1.66m after fierce bidding
There was no sign of a market slowdown over in Ashgrove, where a cute character cottage sold under the hammer for $1.66m.
Auctioneer Adam Downes of Ray White opened the auction, with eight parties registering and four actively bidding for the property at 48 Park St, Kelvin grove.
Marketing agent Tamara Lee of Ray White Ashgrove said the result showed the demand to get into the Ashgrove/Kelvin Grove market.
“The buyers are a couple who live in the suburb over, they are upgrading and aware of the growth happening in the Kelvin Grove market,” Ms Lee said.
“The sellers have been in the house for 22 years, their daughter has had health issues so they decided it’s time for a new beginning and are moving to a more relaxing location near the water.
“The first person through the first open home of this house told me they believed the market was about to crash because of the pending interest rate rise but I disagreed. It’s not going to crash because anyone who has been lent money over the past few years would have had their mortgage stress tested at a higher rate."
67 Mar St, Holland Park sells for $1.256m under the hammer
After two weeks on the market, 10 open homes, and 90 inspections, a large buyer turnout was expected for this auction.
Auctioneer Justin Nickerson said there were three bidders, with two actively competing for the three-bedroom home on 680 sqm at 67 Mar St, Holland Park.
Bidding opened at $950,000 and continued to rise in small increments until the winning bid was placed at $1.256m.
Ray White Holland Park’s Sim Gill said the sellers had lived there for 12 years and installed a brand new kitchen six months ago, complete with a $10,000 oven.
“The main selling point here is the land – 680 sqm of flat, usable land and a really tidy house,” he said.
Mr Nickerson said every one of his auctions had resulted in properties selling under the hammer today.
But he said sale prices and vendor expectations had eased from the frenetic pace of last year.
"Last year, we had the depth of buyers to push (prices) over and above reserve," Mr Nickerson said.
"I definitely think sellers have adjusted their expectations and are more aware of the things that are making buyers hesitate, which is good to see."
Most popular in QLD sells at auction for $1.65m
A bidding war broke out over on Brisbane's southside when a four-bedroom family home went to auction at 2pm.
12 parties registered to bid at the auction of the home at 5 Phalerum Ave, Seven Hills, with 8 actively vying for the property.
Marketing agent Shane Hicks of Place Bulimba said an opening bid of $1.2m was made, then bidding went up in $100,000 increments until $1.4m.
"Then it was in bids of $50,000s," Mr Hicks said. "There must have been 30 bids."
Mr Hicks said the property sold for $1.65m to a local family with a small child, which the home suited perfectly.
"They had sold in Camp Hill through us and recently missed out on another property at auction, so they went pretty hard and were very confident with their bidding," he said. "They're ecstatic."
Mr Hicks said a number of interstate parties were among the bidders. "We're still seeing strong interest from interstate."
The home was the most viewed property in Queensland last week on realestate.com.au.
"I think we had 120 people through in just the three-week campaign," Mr Hicks said.
"The home hit that sweet spot with young families. Sometimes the mid $1ms doesn't get you a second bathroom or a pool. This ticked a lot of boxes."
SOLD FOR $10M! A stunning, Hamptons-style home in Noosa
The uber luxurious home of property and design duo Trent and Kristy Giumelli has sold under the hammer for $10m.
The five-bedroom, waterfront residence on 920 sqm at 60 The Peninsula, Noosa Waters, went to auction in front of invited pre-registered bidders only to avoid "pandemonium".
Marketing agent Tom Offermann of Tom Offermann Real Estate said the home had attracted "a huge amount of interest" including 400 emails and 400 phone calls.
Mr Offermann said five serious bidders registered to compete for the property.
Bidding started at $7m before it came down to two parties.
"Bidding became quite ferocious at one point clearly indicating the parties didn't want to let go of the property," Mr Offermann said.
The bidders were a mix of locals and interstate parties, but Mr Offermann would not reveal any details about the buyer.
"It was an absolute pleasure to represent the property because it had so much interest – not just within Australia – but also from overseas," he said.
He said it was clear to potential buyers who inspected the home that it was an authentic Hamptons-style property, with the highest quality finishes.
Some of the features include a Ralph Lauren chandelier, Tahitian fans, cathedral ceilings, custom joinery, a Wyer & Craw kitchen, and outdoor marble tiling.
10 bidders vie for 22 Midgera St, Ashmore - SOLD FOR $3.65M
A five-bedroom house on more than 4700 sqm of resort-style land has sold under the hammer for $3.65m.
10 bidders registered to compete for the property, with five actively bidding before the hammer came down.
Marketing agent Jackson Paradise of Ray White Prestige Gold Coast said the buyer was a local family upsizing from another suburb on the coast.
"We're not seeing much of a slowdown on the Gold Coast," Mr Paradise said. "We had over 100 inspections throughout this campaign which is a very good number.
"Because this area generally has larger blocks, we're seeing a lot of people wanting more space for them and their families showing interest, particularly in Ashmore."
He said the majority of bidders at the auction were local.
Quirky house at 44 Temple St, Coorparoo, passes in
A quirky house in the inner Brisbane suburb of Coorparoo has passed in at $900,000.
The property was marketed by Shane Hicks of Place Bulimba, who said the owners were keen to negotiate with buyers willing to pay above that figure.
Six properties sold on Temple Street last year, ranging from $905,000 to $2.2m, property data shows.
This home, with its striking red colour scheme is entry-level buying in the suburb.
Flash flooding from the recent floods saw 70cm of stormwater underneath the home, but the house itself remained high and dry and the garden has made a complete recovery.
9 BIDDERS COMPETE FOR 3 IVORY CLOSE, EIGHT MILE PLAINS
Around 100 people turned out to watch nine bidders compete for this five-bedroom mansion in Eight Mile Plains.
Auctioneer David Holmes of Holmes Auctions said bidding got underway with a $1.6m vendor bid before the property was called on the market at $1.9m.
Two parties then competed until it sold under the hammer to a local buyer for $1.985m.
Marketed by Yvonne Huang of Ray White Sunnybank Hills, the property sits in a cul-de-sac behind the local primary school.
Mr Holmes said the combination of a 640 sqm block and five bathrooms made it very appealing.
"It's the ultimate family pad with a pool," Mr Holmes said.
The home had been owned by an international family who used it as their base in Australia.
7 ROLAND ST, GEEBUNG - SOLD FOR $812,500
A young couple were the only bidders at the auction of this humble home on a well-positioned, 607sqm block in Geebung, in Brisbane's north.
Auctioneer Christian Hamilton opened the auction and then paused immediately, inviting the couple into the post-war home, where they negotiated for half an hour before emerging looking exhausted but smiling.
The property, which had been marketed by Harcourts Pinnacle, then sold to them under the hammer.
The home had had one owner who had recently moved into a nursing home.
The young buyers plan to renovate the home to live in and said rising interest rates had no impact on their budget.
29 Equinox St, Taringa - SOLD AT AUCTION FOR $1.085M
Young couples and investors were interested in this house which had been an investment property for the previous owners since 2017.
“They actually bought it from me and we managed the property for them and now I am selling it again. It’s the trifecta,” selling agent Byrony O’Neill said.
Auctioneer Justin Nickerson of Apollo Auctions sold the property under the hammer for $1.085m after competition between four bidders.
The house has been refreshed, with interiors painted, a new stove and rangehood added, and herbs planted in the backyard.
Ms O’Neill says the first interest rate rise in 11 years was causing some buyers to pare back what they were prepared to spend on a house in the hope that sellers would also re-adjust their reserve prices.
“But it’s a supply and demand industry and while supply remains low, it’s going to be that prices will remain quite strong,” she said. “No one is really saying too much about the election.”
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