There are record sales and bargains to be had in the current market as today's auction results show and a suburb is less likely to dictate a property's price than the property itself. Thanks for joining our live auction blog and we'll be with you again next weekend.
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A Shaun Lockyer-designed trophy home has smashed the record for a non-riverfront property in the eastern enclave of Balmoral, Bulimba and Hawthorne as more than 70 homes head to auction across Greater Brisbane.
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With a sixth consecutive interest rate rise this week, and property data out today showing an equal spread of suburbs recording positive and negative house price growth, buyers and sellers are wrestling to find the value of homes in the current market.
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That's a wrap!
Red Hill's best bargain
On the market for the first time in 60 years, this three-bedroom heritage home attracted two bidders and sold under the hammer for $820,000 which is around $800,000 below the suburb's median house price, making this the cheapest house to sell in Red Hill all year.
Knockout bid secures home
A knockout bid from a late registration secured the sale of this five-bedroom house on 301sq m at auction today. The property, at 73 Terrace St, New Farm, was announced on the market at $1.8m with five registered bidders in attendance but a knockout bid of $1.85m saw the house sell.
Hilltop Queenslander makes $500,000 in a year
No one told this property that the boom was over in Norman Park. Despite data out today showing house prices in the south Brisbane suburb have dropped by 2.28 per cent, this hilltop Queenslander has just made $500,000 in a year after selling under the hammer for $3.118m.
Three bidders took the five-bedroom home on an 893sq m block to auction and while the opening bid of $2m was well below its $2.575m sale price last year, a bidding war between one local and one phone bidder saw the property rise above $3m before auctioneer Justin Nickerson called the property away three times and it sold under the hammer.
Buyers are back but is the price right?
This four-bedroom Geebung home on 423sq m passed in with a bid of $1.274m and although interest was strong, the offer was still below the vendor's expectations but not by much. It is now on the market for offers over $1.299m.
"There's been renewed interest from buyers since last week," Harcourts Ascot sales agent Nicholas Loftus says. "After the school holidays, people came back and today we've had solid numbers at open homes as well. People want to own a home. They are reassessing budgets, they know interest rates are going up and they want to lock in a rate."
Splitter block still up for grabs
There were plenty of bids but developers and investors failed to reach the reserve price for this splitter block on 870sq m at 9 Bayview Tce, Geebung. The property passed in at $965,000 and Agent Gary Singh will meet with the vendors on Tuesday to set a sale price for the property.
"It's getting rare to find these bigger blocks," Mr Singh said.
Geebung has a median house price of $951,597 and PropTrack property data out today shows house values are still in positive territory, rising 0.18 per cent in the three months to the end of September, or 25.77 per cent in a year.
Attention first-home buyers!
There were no bidders at the auction of this Banyo home in Brisbane's north today and that has prompted the seller to put a price on the property that should excite first-home buyers.
"We're looking for offers over $640,000," sales agent Sydney Murphy says.
"It's probably a property to suit first-home buyers or someone looking to land bank. You could get some rent from the home for two to three years until the building industry settles down and then demolish to build something new."
Non-riverfront home breaks the record in Brisbane's inner-east
A trophy home originally built in the late 1800s and redesigned by award-winning Brisbane architect Shaun Lockyer has sold under the hammer for $6.25m after six registered bidders took the property to auction today.
"There's still more buyers than sellers but you've got to be able to listen to the market," Place Bulimba managing director Sarah Hackett said.
"We're still getting record sales but you do have to listen and maybe slightly move to get a deal done but it's still a really strong market."
The auction started with a bid of $5.125m from a young local couple who are expecting their first child any day.
"I wouldn't hesitate going to $6m," auctioneer Paul Curtain urged during the early stages of the hour-long auction.
Two other bidders joined in, carrying the home to $5.9m before there was a pause to negotiate with all parties.
"It's quietly doing it," Ms Hackett explained of the negotiated auction outcome. "It's a good way to do it in these high-end sales. You can have a good conversation with each of the bidders that way."
Mr Curtain returned to front the crowd of more than 100 with an increased offer of $6.25m from a local buyer with a young family and the property sold for that price.
"It's a property that took people's breath away and we had a lot of people who would have bought it if they could get their ducks in line," Ms Hackett said. "But the sellers are a family with three children and they have sold to a younger family of three."
The sale price was the third highest ever recorded in Bulimba and a record for a non-riverfront property in the Balmoral, Bulimba and Hawthorne pocket of Brisbane.
$500 bid ends hard-fought battle for Mitchelton house
In Brisbane’s north-west, two bidders engaged in a 36-bid play for a five-bedroom home that was won with a $500 bid.
The auction of 76 McConaghy St, Mitchelton opened at $950,000, which was already $270,000 above its previous sales price in 2014.
At $1.19m the auction paused with Ashgrove couple Loretta and Joseph Anderson in front, and they were taken inside the house to negotiate further while the underbidder from New Farm sat in almost complete stillness on the end of the outdoor day bed for the next 12 minutes, a poker face behind dark sunglasses.
“We’ve got an apartment in New Farm and the grandchildren have all come back from overseas,” she said afterward.
“We need a bigger space but we don’t want to sell the apartment. We have a price range that we don’t want to go over otherwise we’d have to sell it.”
The property was announced on the market with an increased bid to $1.215m with both parties stretching their budgets to bid for the home.
At $1.225m and with the New Farm bidder in front, it was clear the Ashgrove couple were divided over the home.
“We need two no’s,” auctioneer Justin Nickerson insisted, looking to Loretta Anderson for confirmation. “It’s like the X Factor ma’am, you’re definitely sure?”
Sales agent Alison Euler took this moment to approach the couple.
“Here comes Alison, we need three no’s then. At $1.225m, we definitely out?”
Mr Anderson’s face was set in stone.
“Appreciate it,” Mr Nickerson conceded. “At $1.225m it sells and goes on that third and final call we sell….”
“$500.”
It was a small but emotional bid from Mr Anderson and it made the woman on the day bed turn around to face her competition for the first time.
“You can have it,” she said to the couple and the house sold for $1,225,500.
“The market is definitely going down," the underbidder said afterward. "That’s why I’m not prepared to go over a certain amount because I reckon in six months’ time it will go down again.”
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