A Brisbane apartment has gone under the hammer in record time, selling for $550,000 in less than a minute.
Homeowners capitalising on the current market with plans to buy again in six months' time were among those taking their homes to auction today.
RELIVE ALL THE AUCTION ACTION BELOW
The federal election and predicted heavy rain has impacted the auction volume with fewer than 60 properties going under the hammer across Greater Brisbane.
We blogged live auction results and news from the scene throughout the day. Replay all the auctions HERE.
Today was a mixed bag of auction results, from the $5.75m sale of an inner-city estate that set the suburb record in Grange, to a Woolloongabba auction that was done and dusted in less than 60 seconds, and homes that passed in with no bidders taking part. Thanks for joining us, enjoy your evening, and we'll be with you again next weekend.
A local family from Hawthorne who are renovating their home, have bought this two-bedroom unit in Bulimba so they can move in here while renovations continue.
"The renovation is going to take quite some time so in the meantime, they thought they'd buy something entry-level that they'll have as an investment afterward," Blue Moon Property Queensland agent and auctioneer George Trovas said.
The auction attracted nine registered bidders and the home had been owned by a woman who was initially hoping to get $350,000 for the property.
"No matter who ends up running the country after today's election, each party had an angle about helping buyers get into the market, so I understood there would be increased competition with this one, particularly when these promises come into play."
There were no bidders at the auction of this three-bedroom Runcorn investment property today and it was passed in with the seller now seeking offers above $699,000.
A huge crowd was watching but only two bidders took part in this auction and the property passed in with a vendor bid of $1.1m.
"Buyers are just watching what's going on, seeing what is happening with prices at the moment," Ray White Aspley lead agent Dwight Colbert said.
"Buyers will come back ready to buy once this election is over. Interest rates will continue to go up but I don't think that's buyers' main concern."
A recently refreshed three-bedroom home on a 454sq m block is still on the market after no-one was able to bid on auction terms today. The house has been freshly painted on the outside and has a new side fence. Place Woolloongabba director Denis Najzar says buyers in the $1.1ms should submit offers.
Agents are working with all interested parties after this acreage sanctuary "La Bella Vita" was passed in at auction. There were five bidders who registered to buy the five-bedroom home with a custom-built home cinema and beer on tap.
Bargain-hunters were locked out of the auction of 12 Pindari Crescent, Wishart, after the four-bedroom house sold for $1.251m, some $171,000 over its reserve price.
"There are still a lot of buyers out there but 80 per cent are bargain-hunters because they think the market has turned," LJ Hooker Sunnybank Hills agent Kosma Comino said.
"It has slowed … and some properties are taking longer to sell … but there are still good quality buyers out there and I still think prices will continue to go up."
There were 14 bidders at the auction which started with an opening bid of $900,000. Six bidders competed above this price and two fought it out in the final stages.
This will be the second home for a young couple who have been living in a townhouse in Calamvale while the elderly seller is downsizing.
The fastest auction of the day has to go to this inner-city apartment at 2/45 Regent St, Woolloongabba, with auctioneer David Holmes opening the floor to bidding and slamming the hammer down on a $550,000 sale in less than a minute.
"This couple registered during the week and we had two bidders at that stage and we were hoping for another couple but this morning the second party said they were not bidding so we only had one," Estate & Co selling agent Omar Hamid said.
The agent negotiated with the buyer and the seller prior to the auction commencing so there was no surprise in the opening bid of $550,000 and while there were conditional buyers in attendance, the two-bedroom courtyard apartment sold under the hammer after that single bid.
"They love the courtyard and the location with the hospitals around the corner and the Olympics coming in the future so their immediate plans are to lease it out and they may move into it later on."
Four registered bidders and a large local crowd came to see 76 Carranya St, Camp Hill sell at auction today, with the buyers an older couple who had seen the home four times during the auction campaign.
"They had been looking for quite a while and were quite specific in what they wanted. This style home really suited them," Place New Farm selling agent Ann-Karyn Fraser said.
Four registered bidders turned up but a sale price could not be agreed on for this three-bedroom home on 1376sq m so the property was passed in and is now on the market for sale seeking offers over $1.1m.
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