Homeowners moving into and out of Melbourne swap states at Brisbane auction
One Melbourne family migrating to Brisbane managed to win a home at auction - from a family looking to move back to Melbourne. SEE AUCTIONS LIVE
Nicholas Finch
less than 2 min read
August 24, 2024 - 9:23AM
Real Estate
120 Hawthorne Road, Hawthorne
One Melbourne family migrating to Brisbane managed to win a home at auction - from a family looking to move back to Melbourne.
Seven registered bidders appeared on Saturday morning for the auction at 120 Hawthorne Rd, drawing a crowd of around 50 people.
With a history of homing families, the house had a track record for being an affordable, entry-level house. For those looking to expand and renovate, the home also has enough space on its bottom floor by the garden for an extension, allowing for additional rooms and possible dual-living.
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Starting at a bid of $1.3 million, four active bidders began to make their offers for the property. Place Bulimba agent Rachel Butterworth said each of the bidders knew what they were doing, making decisive bids and knowing where their limit was.
"They didn't muck around too much," she said. "The vibe was awesome - we had around 50 people, bidders, neighbours and other interested parties."
After around 8 bids, the competition had settled down. At $1.455 million, the home sold under the hammer to a family of four: a mother, father and two boys.
Sadly, the dog was not included in the sale.
The winners were an English couple who were moving up from Melbourne, after having spent a couple of months renting while looking for their new home.
Entirely coincidentally, it was a similar case for the old owners, who bought the property after moving up from Melbourne themselves. Now seeking to move back down with their family, the owners decided to pass the home on, giving it to the new couple from the same state.
Considering the possibility of more room downstairs, the new owners have decided to absolutely use some of the space out the back for a pool.
"I think this will be their long-term home ... for a while," Ms Butterworth said.
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A new suburb record price was set for a four-bedroom home in Kuraby, which sold for $1.516 million on Saturday.
The house at 50 Christine St had 18 registered bidders looking for the family home: a more affordable suburb compared to the nearby Eight Mile Plains.
Starting at a bid of $900,000, bidding rose across nearly 30 bids, with nine active bidders confidently making offers for the property.
LJ Hooker Sunnybank Hills and Mount Gravatt agent Faraz Peyman said the home was popular because of the suburb's affordability.
"It’s a no-brainer to buy in Kuraby," he said. "People were bidding with confidence – everyone wanted to get it."
While the auction began with big swings in the bids, it soon went down to $1,000 dollar rises after the $1.1 million mark.
With a few more bids made to price other contenders out, the home was finally sold to a young family with one child.
“It was a very strong and confident auction,” Mr Peyman said.
International Uni students sell their overseas home
62 Park Avenue, Sunnybank Hills
The five-bedroom, four-bathroom home at 62 Park Ave, Sunnybank Hills, was owned by international university students before being sold at auction on Saturday.
Spending five years in Australia for their studies, they moved back to China just before the Covid-19 pandemic. Finally deciding not to return, they made the decision to put the property up for sale.
Six registered bidders attended the morning auction, with four bidders active after offers began at $1.6 million.
What followed was a tense, fast-paced auction over the next 30 minutes, with more than 70 bids going back and forth over the property.
Finally, the home was sold for an offer of $2.25 million.
Ray White Robertson agent Eric Li said the day was "a very successful story for the seller", and that the home would be going to a family of three.
"They love the location, they love the land – they'll enjoy living here," he said.
"$250,000 more than the reserve price is a great result."
Bidder wins corner block on their childhood suburb
2 Kuhler Ct, Carindale
Growing up in Carindale, the winner of the auction for 2 Kuhler Ct wasn't guaranteed to get a house near their childhood home – but won it in a fast-paced bid against five other people.
Starting at a bid of $1.2 million, the quick auction went by in under ten minutes, with offer after offer being traded back and forth.
Around 20 bids later, the price of the home had increased by $200,000, and sold for $1.48 million.
Torres Property agent Li Tao described the auction as "non-stop".
"People didn't think, just kept going," he said. "They already knew their budget."
The winners had actually made an offer for the home prior to the auction, having liked the four-bedroom, two-bathroom property so much.
"They just loved the area," Mr Tao said.
The winner was one of a family of three, and their daughter is expected to go to a school within the catchment.
177 Cribb Rd, Carindale
Meanwhile, also in Carindale, the home at 177 Cribb Rd sold for $1.77 million dollars: a funny coincidence after a tense bidding war between eight registered bidders.
Six of the bidders were active from the start of the bidding, at $1.3 million, until the final crawl before the final offer was made.
Private negotiations happened near the end of the auction between the old and new owners, who also lived in Carindale.
They decided to downsize from a two-storey to a one-storey home, the second group to do so on this week's auction blog.
Decades-old family home passed to new generation
67 Barnehurst Street, Tarragindi
A series of strong, decisive bids saw a home owned by one family for nearly 40 years pass to a new family, looking to make their own perfect home.
The four-bedroom, two-bathroom home at 67 Barnehurst St, Tarragindi, had been extensively renovated over the past few decades by its old owners.
Having recently done an extension on the property, they made the tough decision to leave the home and move closer to the rest of their family – giving six registered bidders the chance to compete for the house themselves.
A crowd of around thirty people showed up on the sunny morning, gathering around the front of the property to see the morning auction commence.
Justin Nickerson of Apollo Auctions presided as auctioneer over the event, which started at $1.4 million. Burrell Property Group agent Jonah Burrell described the event as a "good, spirited bidding".
Within four short bids, two active bidders had priced the others out, with the winners decisively claiming the home with a final offer of $1.685 million.
A crowd of around thirty showed up to see who would claim the family home for themselves. Picture: Apollo Auctions
The home features a modern decor in a 792 sqm block, shielded by tall greenery to preserve privacy.
It is also located close to Holland Park West Busway, which will soon become a metro station that will give the public access to Brisbane's Olympic Games in 2032.
"It’s a fantastic street in Tarragindi," Mr Burrell said. "It’s right near the forest … nice and quiet."
While offers were being considered prior to auction, the vendors decided to let bidding play out, and were happy with the result.
Mr Burrell said the home was bought by a young family with two kids, upgrading from a neighbouring suburb to a new, "family-friendly" location.
Homely property bought at auction for a love of the location
12 Aragon St, Indooroopilly
Three registered bidders all actively fought over the three-bedroom, one-bathroom home at 12 Aragon St, Indooroopilly, gathering a crowd of neighbours to admire the proceedings.
Owned by the now-deceased owners for 66 years, residents were keen to see what would happen to the home: with one 91 year-old neighbour walking down and uphill to attend the auction with curiosity.
Auctioneer Justin Nickerson oversaw the bidding. Agent Gary Eaton of Harcourts Marketplace Oxley said bidding was slow but continuous, with some discussion on the day with potential buyers and those selling the estate.
After a starting bid of $750,000, 21 offers went back and forth between the three bidders – and a final offer of $930,000 was what secured the win.
The winners were a middle-aged couple, who Mr Eaton said were attracted to the location for both its proximity to schooling, and being outside of flooding zones.
"I think the attraction was Indooroopilly High School," he said.
Family moves from two-storey to single-level home
16 Petrina Street, Eight Mile Plains
Eight registered bidders arrived to compete for the five-bedroom, two-bathroom home at 16 Petrina St, Eight Mile Plains – and the winners were taking a literal step down.
With the old owners having to move to take their kids closer to school, five active bidders fought at the Saturday auction, with a starting bid of $1 million.
With a slow start to the proceedings, the pace of the bidding shot up once it was called on the market; and two bidders went head-to-head, increasing the price by $100,000 over dozens of bids.
Ray White Sunnybank Hills agent George Yang said it was a close call between each bidder, the two of them slowly increasing their top offer to barely beat out the other.
"Both really wanted it," he said. "Both had their reasons to move in with the family."
50 bids later, one family emerged the victor at a final offer of $1.591 million; winning by $1000.
The winners were moving from a recently sold Rochedale home, and Mr Yang said the family was looking for a home with more land and greater accessibility.
"They’re a young couple, but they like being on a single level, not having to deal with stairs," he said.
Moving from multi-storey houses to single-level homes is reported to be an increasingly regular trend.
“Some are doing it for downsizing, some prefer just living on the one level," Mr Yang said.
PropTrack Data shows Queensland auctions sitting still
165 Mudgeeraba Road, Tallai
PropTrack’s latest property preview report shows a stagnant week for Brisbane auctions, sitting at 243 scheduled for this week: a zero per cent rise compared to this time last year.
For Brisbane itself, the rise is a little higher, with 140 auctions representing a 13 per cent year-on-year rise.
However, in regional Queensland, the reverse has happened, with 103 auctions creating a 13 per cent decrease compared to 2023.
The most-viewed property going to auction this weekend is 165 Mudgeeraba Road, Tallai.
The six-bedroom, three-bathroom home near the Gold Coast was described by Harcourts Property Hub agent Bronwyn Knipe as an in-town acreage property, representing the best of both worlds for accessible and rural living.
“It’s still not that far out,” she said, “So people still get the acreage lifestyle without being too far away.”
The home also features a newly-built granny flat for additional living quarters, built for the current owners’ extended family.
The house will be going up for auction at 1pm on Saturday.
Last minute bidder snaps up cottage home
4 Storkey Street, Windsor
With ten minutes before the start of an auction, one man made a last-minute call to bid on a property; and ended the call a first-home buyer.
The three-bedroom, one-bathroom house at 4 Storkey St, Windsor, was the first of several homes going up for auction at Ray White’s in-house event on Thursday, August 22.
This auction started with a bang: nine strong, decisive bids was all it took between eight registered bidders to see the home’s price skyrocket by hundreds of thousands of dollars.
Beginning with a starting bid of $950,000, the price of the final bid quickly rose to $1.3 million before the pace began to slow, with each bidder trying to price the others out.
The final three bids were $1.4 million, then $1.425 million, before the final bidder threw a hail Mary of $1.475 million.
The $50,000 increase was the absolute limit of what the bidder was willing to pay; but it priced the other bidders out, winning him the property within minutes.
Potential buyers for the Windsor property considered both tearing up the home and leaving it as is.
Ray White Wilston agent Holly Bowden said potential buyers were interested in the versatility of the property: able to be used as a home immediately, or with a prime location for building something new.
“We had people who were interested in it without seeing it,” she said, “because of the fact that it was in an elevated spot with city views.”
The winning buyer is considering moving in to the home as-is for now.
Other successful auctions at the event include the four-bedroom, three-bathroom home at 64 Vale St, Wilston: a recently renovated location which sold for $2.175 million.
Overseas homeowners part with their Aussie home across the sea
11 Moynihan Street, Ascot
A young couple has picked up their new family home in Ascot, whose previous vendors owned it as an overseas home.
Buying the property at 11 Moynihan St eleven years ago, the family lived there for two and a half years before moving back to Asia.
The two-storey home is close to Ascot train station, featuring a backyard evenly divided between grass and a swimming pool, and an ensuite master bedroom leading out into a rear deck.
With the old owners deciding to sell the home, thirty onlookers arrived to watch three registered bidders compete over the property.
With a starting bid of $2.5 million, decisive bidding between two bidders brought the price of the home up by $300,000. Stopping for negotiations, the home finally sold to the couple for $2.85 million.
Place New Farm agent Alex Rutherford said the couple appreciated the house for its location, school catchment and "the ability to make it their own".
"Really nice people who bought it," she said. "[They] wanted to buy it, it suits them – it's expected to be a longevity home."
The supply of new Gold Coast units on the market has plummeted, with a report warning the crunch on the property sector has worsened in the past 18-months.
