Real estate agents and builders agree, we're at 12.30 on the property clock, with the peak of the market stretching from October last year to February. Buyer sentiment is slowing and plenty of auctions passed in today but Ray White recorded a 72.7 per cent auction clearance rate and there are still pockets of heat in the market. Check out today's blog, including a 75-minute marathon for the keys to one of the most prestigious homes in Grange and the Brisbane home that made $500,000 for its owners in three years.
Brisbane auction results live: Construction boss sells own home for $3.9m
Brisbane construction boss Scott Clements has sold his home in the Grange for $3.855 million in a 70-minute marathon. CATCH UP ON TODAY'S AUCTIONS IN OUR BLOG
A luxury riverfront home and an original 1880s cottage in the inner city are among more than 100 properties to make it to auction across Greater Brisbane today.
FOLLOW THE AUCTION BLOG BELOW
We'll be posting live results throughout the day and you can also watch auctions live HERE. Brisbane heads to auction with a clearance rate of 58 per cent from last week.
Updates
That's a wrap!
14 Napier St, St Lucia - Sold for $1.35m
9 Glyn St, Coorparoo - Sold for $2.46m
Construction boss sells own home for $3.855m
Brisbane construction boss Scott Clements has sold his home in the Grange for $3.855m in a 70-minute marathon with three bidders starting the auction and a further two registering to buy the house while the auction was underway.
Mr Clements, whose name is synonymous with the continued gentrification of Brisbane's inner north through his self-titled construction firm, renovated and extended the original pre-war home, giving it almost 600sq m of floorspace on the 896sq m block.
Auctioneer Justin Nickerson paused the bidding multiple times to negotiate between parties. At $3.75m the five-bedroom, four-bathroom property was announced on the market and a bidding war began between two cashed-up local buyers, one of whom was on the phone, before the property sold for $3.855m.
Mr Clements bought the property three years ago for $1.285m.
The sale would have been a suburb record were it not for the $4.05m sale of 11 Newton St, Grange on April 22.
The previous record holder, 79 Montpelier St, Grange, goes to auction again next Saturday.
15 Seymore Court, Boronia Heights - Sold for $555,000
A local investor has snapped up a four-bedroom, one-bathroom house in the Logan suburb of Boronia Heights for $555,000. There were 5 registered bidders for the home which had been in the one family for 18 years.
A referral saw Place Graceville selling agent Melissa Nicholls head south to Logan for the auction which was conducted by Brisbane's only female auctioneer, Tara Kelly.
"It was belting down and we had the auction outside on the patio but it was still good," Ms Nicholls said.
The home is a 30-minute drive from Brisbane and there is a park at the end of the street. The seller's are moving to Brisbane's north.
Western suburb home makes $500,000 in 17 months
It's the western Brisbane suburb that still thinks it's 2021. The owner of this four-bedroom house at 43 Kirri St, The Gap paid $830,000 for it in January 2021. Today they sold it in exactly the same condition for $1.315m, a 58 per cent increase in just 17 months.
"What we've seen is The Gap represents exceptional value," Ray White Wilston principal Alistair Macmillan said.
"You get a larger block size, 600-700sq m blocks, and you do tend to get better value for money. If you were trying to buy further in at Ashgrove, you're not going to get much for $1m or $1.1m."
The property attracted 11 registered bidders, all owner-occupiers and mostly younger couples or families looking for their next home.
The four-bedroom house is on an 875sq m block with a 21m frontage.
25 Meston St, Mitchelton - Sold for $1.305m
This three-bedroom, four-bathroom home last sold in 2017 for $655,000 but it has had a complete makeover since then.
Five bidders took the property to auction where it sold for $1.305m.
"Sellers who are willing to accept market conditions are selling," Apollo auctions director and auctioneer Justin Nickerson said.
"The market isn't as fiery as last year but it's still strong and there are still buyers on properties."
'Vintage all the way’ home sells for $790,000
This kitsch brick house at 50 Grace St, Mitchelton has been an investment property for its Sydney owners but the new local family who bought it today are planning to make it home.
“It’s so cute, like stepping back into the 50s. It's vintage all the way. It’s even got a built-in corner lounge,” REMAX selling agent Roxanne Workman said.
Three bidders took the property to auction and while the new buyers were local, they were holidaying interstate and phoned in to bid.
“This was a five-week auction campaign because we encountered three public holidays. Normally it would only be a three-week campaign,” Ms Workman said.
"I'd love to blame it on the weather ..."
There were two bidders, both local, for the auction of 28 Vallely St, Annerley today but at $950,000 the home passed in.
"It’s the first one we haven’t sold in a while,” Ray White Annerley principal Geoff Sellars said. “I’d love to blame it on the weather but it’s been on the market for a few weeks now.”
He said interest rates, the federal election and a few quirks with the property itself affected today’s auction result.
“The campaign was slower than expected but we’re already getting phone calls post auction.”
The property is now listed for sale for $990,000 plus.
Mitchelton home sells for $50,000 over reserve
Not all sellers are having to revise their reserve prices today.
A young family who recently moved up from Canberra are the new owners of 78 Glen Retreat Rd, Mitchelton after 10 registered bidders took the renovated post-war home to auction today.
Bidding started at $1m and six people were active above this price point with the four-bedroom house selling for $1.225m, which was $50,000 above the property's reserve price.
The sellers originally bought the home from Ray White Alderley in 2003 and have renovated. They are upsizing to Albany Creek.
“The market has been really good,” selling agent Meghan McVeigh said. “Although buyers through open homes has declined, we're still seeing the same prices we were at the beginning of the year. “It’s still really active, there’s plenty of buyers out there.”
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