A knockdown in Brisbane's exclusive Hamilton that already has demolition approval has sold under the hammer for $4.9 million. FOLLOW THE AUCTION ACTION LIVE
Greater Brisbane heads to auction today with a 66 per cent clearance rate from last week and a suburb record sale in the Logan suburb of Underwood.
FOLLOW THE AUCTION BLOG
Today's auction hot spot is Calamvale in Brisbane's south where six homes are heading under the hammer, while the opportunity to build on one of Brisbane's finest streets will see developers and home owners go head to head in inner-city Hamilton.
We're posting live auction results throughout the day and you can also watch our live auction coverage HERE.
Thanks for joining our live auction blog. Buyers who don't need to buy in this market are being much more cautious today, on the back of the largest official interest rate rise in 22 years. But those who have easier budgets to manage are still buying property and there were a couple of $4m-plus sales today. Have a great weekend and we'll be back with you next week.
This four-bedroom family home with 2.55m ceilings, a near-new kitchen, one-year-old master suite, and a wood fireplace with electrical fan power, attracted four registered bidders and sold for $1.1m.
While this property attracted the crowds, NGU selling agent Leo Liu said buyers are more cautious now that interest rates have started to go up.
"A lot of buyers, if they don't need to buy now, are sitting on the fence now and waiting three to six months to see what will happen to the market," he said.
This three-bedroom home on 354sq m had two registered bidders today and sold for $950,000.
Ray White Paddington agent Judi O’Dea signed up 11 registered bidders for this stunning three level house at 1 Horsburgh St, Kelvin Grove with some of the best views of the Brisbane skyline. Six bidders were active during the auction and the house sold under the hammer for $1.555 million to buyers relocating from Sydney.
“The winning bidder was a Sydney buyer couple who are downsizing to Brisbane. My sellers have lived there 12 years and done two renovations during that time, Ms O’Dea said.
“I think some of the best buying in Brisbane is from Kelvin Grove to Herston, the fringe ring is really exciting as it’s so close to the city and all within walking distance of the Victoria Park development which is going to be incredible.”
No, this is not a file picture from 2021, it's today at 24 Sparkes Ave, Hamilton where 16 registered bidders, six of them active, took this executive five-bedroom home to auction.
The property sold for $4,115,000 to a local family and the sellers were thrilled with the result.
“The Brisbane prestige market remains in good form,” Ray White Ascot's Dwight Ferguson said.
The fast and furious auction opened high at $3.6m, with several interstate and international bidders registered.
During the campaign, Mr Ferguson took more than 180 groups through the property for inspections.
“There’s still plenty of activity now and it’s still a good time to be selling,” he said.
Calamvale has more auctions than any other suburb today. Here's how they all went:
29 Nabeel Place, Calamvale – 4 Bed / 2 Bath / 2 Car on 519sq m
Sold for $955,000. Nine bidders. Agent: Jackson Chow, LJ Hooker Sunnybank Hills
10 Huntington Court, Calamvale – 4 Bed / 3 Bath / 2 Car on 763sq m
Passed in at $1.1m. One bidder. COCO Beyond’s Thomas Lee received a couple of offers after the auction closed and is working with those conditional buyers now.
3/28 Menser St, Calamvale – 3 Bed / 2 Bath / 2 Car on 162sq m
Passed in at $495,000. One bidder. The sellers are now inviting all offers. Agent: Jackson Chow, LJ Hooker Sunnybank Hills
4 Lenton Place, Calamvale – 4 Bed / 2 Bath / 2 Car on 450sq m
Sold for $1.19m. Agent: Emily Xiong, LJ Hooker Sunnybank Hills
12 Galliano Court, Calamvale – 4 Bed / 2 Bath / 4 Car on 651sq m
Passed in with a vendor bid of $950,000m. Two bidders. Now on the market for offers over $1.05m. Agent: Jackson Chow, LJ Hooker Sunnybank Hills
3 Dundee St, Calamvale – 6 Bed / 2 Bath / 2 Car on 601sq m
Sold for $1.15m. Two bidders. Agent: Emily Xiong, LJ Hooker Sunnybank Hills
International swim coach Matt Brown took advantage of a less competitive auction crowd on Saturday to buy a Northgate home for $850,000.
The former Olympic coach, who trained the Australian swim team in 1996, 2008 and 2012 and the Chinese swim team in 2016, stood his ground against one other bidder at the auction of 33 Day Rd, Northgate.
Mr Brown opened the auction with a bid of $820,000 and a local phone bidder countering that with an increase to $840,000. Mr Brown then offered an extra $1000 for the house and refused to offer more until Harcourts auctioneer Christian Hamilton was forced to accept the bid in the spirit of progressing negotiations. “You’re a tough negotiator,” Mr Hamilton said before pausing the auction to wrestle an extra $9000 from Mr Brown and his wife Norina.
“The reason we negotiated so hard is because we aren’t desperate to buy,” Mrs Brown said.
Mr Brown was overseas training the Chinese swim team when Covid hit, leaving his wife to look after a rambling Queenslander in the northern suburb of Kedron.
Downsizing to Northgate is part of a plan to have a low-maintenance home in Brisbane and a holiday home on the northern New South Wales coast.
On the other side of Day Rd, Lawnton couple, Mario and Anna, were keen to move closer to the city for work and hoped the three-bedroom house would pass in.
“We offered $850,000 for the house before the auction but we can’t do auction terms. We have already sold our house but we want that finance approval clause in there,” Mario said.
“If this does sell, that’s okay, I’m seeing homes in Boondall that were listed at $900,000 now coming down to $840,00 so I think I’ll wait a couple more months.”
Get the wrecking ball out and start smashing. This Hamilton home, at 1 Dickson Tce, already has demolition approval and the 759sq m block it sits on is more valuable without it.
“My seller is over the moon with the campaign and result," Ray White New Farm principal Matt Lancashire said. "This result shows the strength of the Brisbane market. We had six bidders and half of them were locals and half of them from overseas and/or interstate,” Mr Lancashire said.
“The auction opened at $3 million and travelled up quickly in $50,000s to $4.7m where it was a battle between two bidders and it ended up selling to a local buyer for $4.9m," Mr Lancashire said.
“Of the eight properties I sold in May worth $35 million unconditionally we have built a database of more than 300 international buyers. Between Sydney, Melbourne and overseas buyers, we have access to a deep pool of buyers interested in Brisbane’s prestige market.”
Here's a few more auction results from around the region:
69 Franklin St Annerley – 3 Bed / 1 Bath
Passed in at $1.15m with three bidders. “We’re negotiating with one of the bidders and also a conditional buyer who was there at the auction and put in an offer straight after,” Ray White Annerley’s Geoff Sellars says.
422 Mount Gravatt-Capalaba Rd, Wishart – 3 Bed / 3 Bath
Sold with one bidder but agents are finalising a few legal requirements before releasing the sale price.
3 Larwood St, Upper Mount Gravatt- 4 Bed / 2 Bath
Sold prior to auction for $740,000 to a local buyer. The sellers are moving to Brisbane’s north.
313/66 Bay Tce, Wynnum – 2 Bed / 2 Bath
Passed in. One out of three expected bidders turned up to the auction but did not bid.
7 Sunday St, Shorncliffe – 3 Bed / 2 Bath
Passed in at $1.4m. Four bidders, mainly downsizers. “We’re not too far away,” Ray White Ascot’s Keith Mahon says. “I’m showing one of the bidders through the house again at 3pm. I’ve got 48 hours to sell it under auction conditions.”
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