One of Brisbane's most illustrious historic homes has gone under the hammer today, with the winning bidder adding just $1000 once it hit the market. Follow the auction action in our blog.
A Bowen Hills home designed by a former Lord Mayor and bought by a record-making aviatrix is one of 90 properties heading to auction across Greater Brisbane today.
FOLLOW THE AUCTION BLOG
Brisbane heads to auction with a 40 per cent clearance rate from last week and the hot spots for buyers today are in Eight Mile Plains, Birkdale, Holland Park, Holland Park West, Coopers Plains, Wilston and Paddington.
We'll bring you the latest auction results and news from the day and you can also watch auctions live HERE.
Thanks for joining our live auction coverage today. We saw bursts of activity across Brisbane with a top sale of $3,001,000. Buyers with less than $1m to spend were active in the outer suburbs. While several high end homes failed to sell under the hammer. Take care and we'll be with you again next weekend.
5 Bed / 2 Bath / 2 Car
Bidders: 2
Auction result: Passed in with no bids recorded. Now negotiating with the two bidders.
4 Bed / 4 Bath / 2 Car on 440sq m
Auction result: Passed in. Now for sale by negotiation.
5 Bed / 3 Bath / 2 Car on 539sq m
Auction result: Passed in. Now for sale by negotiation.
4 Bed / 2 Bath / 2 Car on 2044sq m
Bidders: 10
Auction result: Sold for $1.65m to a buyer from Sunnybank who had offered $1.15m prior to auction.
3 Bed / 1 Bath / 2 Car on 987sq m
Bidders: 5
Auction result: Sold over reserve for $715,000. This deceased estate was the second most popular Brisbane property to go auction this week, according to realestate.com.au data.
And it was the size of the land, not the condition of the 30-year-old home that attracted the bayside buyers.
'Stage three' is a term in the Brisbane auction vernacular that was rarely used last year but Ray White Paddington's Judi O'Dea says when a property passes in at auction, it is the success of post-auction negotiating with conditional buyers during stage three of the auction process that justifies the call to go to auction in the first place.
Ms O'Dea was speaking after a six-bedroom house at 213 Boundary Rd, Bardon passed in at auction today with one bidder taking part. She is now negotiating with five buyers and has three offers on the table and is meeting with more conditional buyers at a further open home on Sunday.
"I feel that everybody is not confident about the auction day," she says. "That's fine, that's how the market wants to play it, but there are three stages to an auction and my point is the process does work and we wouldn't have three offers on the table and two pending unless we had that auction situation.
"I can see people not putting their hand up for an auction and that is wrong. I've been in the real estate game a long time and I believe in the process, it does work, and I think this was the classic auction, a good result, sorry we couldn't get there on the day but now we are doing that negotiating and will take all offers."
Ms O'Dea says marketing campaigns cannot be overstated in the current climate.
"When you have a marketplace that is skittish or uncertain, spread your net widelyand that could bring you another one or two bidders."
5 Bed / 3 Bath / 2 Car on 1265sq m
Bidders: 4
Auction result: Sold for $3,001,000. Bidding opened at $2.5m and paused to negotiate at $2.85m. The auction reopened with an increased bid to $2.95m. The property was announced on the market at $3m and the winning bidder who already lives in the area, put another $1000 on top to buy the house.
Background: Manola is a grand Bowen Hills residence that was designed by former Brisbane Lord Mayor and architect, Leslie Corrie and built by his brother Alexander Corrie in 1919. In 1941 it was bought by Brisbane's record-making aviatrix, Lores Bonney, the first woman to fly solo from Australia to England. Ms Bonney lived next door and converted the house into flats as there was a shortage of accommodation during World War II.
For the past three decades it has been the family home of Professor John McGrath and Dr Frances Dark who enlisted the help of heritage architect Robert Riddel to restore it to its original glory.
5 Bed / 3 Bath / 2 Car on 809sq m
Bidders: 5
Auction result: Sold under the hammer for $2.15m. The winning bidders were a young local family from New Farm. The sellers have lived here for 20 years and are now downsizing.
2 Bed / 1 Bath / 3 Car on 599sq m
Bidders: 4
Auction result: Bidding opened at $700,000, paused at $790,000 and the property sold for $890,000.
A long-empty site in a surprise location will be transformed into a retail showroom complex under fresh plans lodged with the council. FIND OUT WHERE
Rents have increased again in 252 Queensland suburbs, reversing the brief downward trend recorded just three months ago. See how your suburb compares!