A hundred onlookers gather to watch hot auction war over Tarragindi hotspot
Around a hundred people showed up to one of Saturday’s hottest auctions, on a rare flat piece of land in Tarragindi. FOLLOW AUCTIONS LIVE
Nicholas Finch
less than 2 min read
August 2, 2024 - 1:07PM
Real Estate
Successful bidders Jason Kwan, Bill Mo and Peilin Li at Saturday's Tarragindi auction. Picture: Richard Walker
Around a hundred people showed up to one of Saturday’s hottest auctions, on a rare flat piece of land in Tarragindi.
The four-bedroom, one-bathroom home at 53 Kuring Gai Ave wasn’t just being sought after for the house, but the flat 885 sqm block in the typically hilly suburb.
22 registered bidders appeared to take their shot at the land, with six going head-to-head during the fast-paced auction that was over in fifteen minutes.
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With an opening bid of $1 million, offers increased by $100,000 a bid, reaching $1.3 million in moments.
It was declared on the market at $1.45 million. Three bidders remained to compete over the hot property, with only a few other active listings in the area.
In an effort to outpace the competition, the winners increased their bid by $3000 – and won the home for $1.53 million.
Ray White Mt Gravatt agent Andrew Boman said he wasn’t surprised to see how popular the property was on the day.
“Tarragindi is a popular suburb,” he said. “Trying to find flat land is becoming harder and harder.”
53 Kuring Gai Avenue, Tarragindi - auctioned off by Ray White Mt Gravatt. Picture: Richard Walker
The home belonged to a deceased estate: built by the family that lived there, never having been sold before.
Mr Boman said the old owner’s next of kin were feeling “relieved” but “emotional” about selling it.
“They had a lot of memories of that house,” Mr Boman said.
The bidding was won by representatives of real estate developer B Base Projects.
Bill Mo, who bid on behalf of the team, said there was a likely chance the old home would be knocked down for a new build.
“The auction was quite competitive,” he said. “I’m actually overpaying, but that’s what you’re doing in this current market. You don’t overpay, you don’t get property, to be honest, at the moment.”
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Millions in property sold on and before fiery auction day
24 Bernhard St, Paddington
Dozens of registered bidders appeared across Brisbane to compete for highly contested properties, far outpacing estimated reserve prices.
Place Real Estate auction results across the city show standout auctions from around the city: such as the bidding over 24 Bernhard St, Paddington.
The three-bedroom, two-bathroom home had 26 registered bidders arrive to see who would take the home, close to the CBD.
In the end, the bidding ended with a final offer of $2.05 million.
This celebrity property at 48 Cheviot St, Grange, already sold before Saturday's auctions.
Meanwhile, over 78 bids took place back and forth over 8 Glenlyon Dr, Ashgrove. 7 bidders went back and forth over the five-bedroom property, shooting above the reserve price to be sold at $1.82 million.
Three bidders offered to claim 7 Saint Ledger Ln, Kelvin Grove, selling for $1.54 million.
An offer of $1.15 million was what it took to snag a four-hectare property at 299 Lochinvar Rd, Upper Kedron.
The four-bedroom property at 27 Norman St, Coorparoo, was sold for $1.735 million on the south side of the city.
Finally, an offer of $2.55 million took the five-bedroom, three-bathroom home at 32 Lindsay St, Hawthorne.
NRL couple Darius and Kayla Boyd's home at 48 Cheviot St, Grange, was also meant to go to auction today – but instead sold prior for a whopping $4.55 million.
Two brothers win bidding war that spills onto the street
The apartment at 4/55 Bulimba Street, Bulimba.
Even apartments are feeling the heat under the cost of living crisis.
The two-bedroom space at 4/55 Bulimba St, Bulimba, saw 14 registered bidders and a crowd of onlookers spilling out onto the street, with six actively fighting over the small patch of the suburb.
Sold under the hammer for $705,000, Ray White Bulimba representatives said agents "can't keep up with the demand for this kind of product".
Two brothers, first home buyers, purchased the apartment together. Agent Keenan Smith said the outcome was "a three-bedroom level result for a two-bedroom unit".
Ray White has had a lucrative auction day across Brisbane. The five-bedroom, four-bathroom home at 33 Sixth Ave, Windsor, sold for a stunning $4.1 million.
Meanwhile, a five-bedroom, four-bathroom house at 26 Alton Tce, The Gap, sold for $1.822 million. A four-bedroom, two-bathroom house 325 Jackson Rd, Sunnybank Hills, also sold on Saturday, with the final result at $1.351 million.
Bidders battle it out near and far across Brisbane - but one home was one in just one bid
22 Agincourt St, Grange
Saturday has seen a wide range of properties sell across Brisbane, from auctions that only took one bid to houses that have not been sold in 69 years.
A three-bedroom, one-bathroom home at 22 Agincourt St, Grange, had eight registered bidders going back and forth over the property, with an opening bid of $1.5 million.
Negotiations took the home onto the market at $1.6 million – and the home, which was sold for the first time in 67 years, was sold at $1.66 million.
Meanwhile, a home at 27 Renwick St, Albion had a similar story.
Not sold for 69 years, the property started a the auction at $1 million by a registered bidder over the phone.
Negotiations took place after the bidding reached $1.18 million, before being sold for $1.28 million.
9 Norham Court, Carindale
Some fights over homes were a little closer between bidders. Two young couples fought for the house at 270 Simpsons Rd, Bardon: with an opening bid at $1 million and selling for $1.48 million.
Four active bidders clashed over 12 Elaroo St, Marsden, bidding going from $500,000 to $655,000 over the auction.
But for the property at 9 Norham Court, Carindale, there was no contest at all. A single bid of $1.44 million started and ended the auction.
A young family managed to swipe up the five-bedroom, four-bathroom property: the only registered bidders to appear on the day.
Auctions were conducted by Justin Nickerson and Jack Barrett of Appolo Auctions.
Physio's family home passed to another physio in rapid-fire auction
51 Cavan St, Annerley
A hotly-contested property up for auction had bidders putting over $1.5 million on the line – and the winner ended up having the same job as the old owners.
The four-bedroom, three-bathroom home at 51 Cavan St, Annerley, had belonged to the previous owners for 37 years, with the family they started having grown up in the property.
With a 1920's Queenslander style, the home's cozy nature, wide yard and accessibility to the city made it a prime location for those looking to start a family of their own.
Sporting a renovated kitchen and covered parking for four vehicles, the home's space allows for a growing family and sizeable parties out the back.
Around 50 people show up to see who would win the fast-paced auction for the home, with eight bidders registering to compete in the bidding.
After a starting bid of $1.3 million, five active bidders went back and forth with offers increasing by $50,000 a bid.
By the last ten bids, two families were contesting for the home, the size of each bid rising $1000 a time.
In less than ten minutes, one family had emerged the winner, with the home being sold for $1.836 million.
Eight bidders were registered to fight over the home, but dozens of people were present to see the auction play out.
The new owners were a couple looking to upsize their home for a child, looking to start a family as the old owners had.
Belle Property Bulimba agent Sam Battel said the old vendors were "ecstatic" but "very emotional" about the sale – and was surprised one of the old owners and one of the new buyers were each physiotherapists.
“They're passing it down the health line – it’s a very small world," he said.
"[The new owners] are probably starting their journey where the previous owners started theirs … expecting to spend the next 37 years of their lives here too."
Busy auction week for Queensland
15 Moonya Street, Bardon
Queensland is the third-busiest state in the country when it comes to auctions, sitting at 256 scheduled this week – a 34 per cent increase from this time last year.
PropTrack data has shown Brisbane and regional Queensland are both seeing auction results in the hundreds. Brisbane’s estimated 145 auctions represent a 58 per cent year-on-year increase, while regional Queensland’s 111 is a 12 per cent rise.
Queensland’s suburb with the highest number of scheduled auctions this week is Upper Coomera, with five homes up for grabs across the area.
The most-viewed Queensland residential listing from the last week is 15 Moonya Street, Bardon: a 150 year-old Queenslander, featuring a classic look across five bedrooms and a garden with carefully trimmed hedges around the property’s border.
Sunshine Coast home huge auction hotspot
27 Watson Street, Currimundi
One of the most-viewed homes up for auction this week across Australia is a house by the Sunshine Coast, offering a stunning view of the Pacific Ocean.
PropTrack’s latest property preview report has put 27 Watson Street, Currimundi, as this week’s second-most viewed residential listing up for auction on the weekend.
Award-winning team Nick Hayes Constructions worked to put the home together, with the new build going up for sale just months after construction completed. The home has a lift to access each of its three open levels, which feature a gym, a master bedroom and two other ensuite rooms.
The newly-built house is a rare opportunity for those seeking to buy a fresh home on a prime position of beachfront.
A Next Property Group Sunshine Coast agent, representing agent Richard Scrivener, said the home’s location was a stunning opportunity with a prime view of Currimundi’s beach.
“The block actually faces northeast – a lot of the beachfront properties on the Eastern Seaboard actually kink straight to the east, with a lot of south,” they said. “[The] design was to maximise the northerly light, taking in the view of the ocean.”
“In that little pocket there, nothing’s come up in four years. So the land and the position itself is a rarity.”
During the auction, the property reached a staggering $9.5 million in bids, before being passed in at $10 million. Further discussions are ongoing with one of the highest bidders at the time.
