Keep an eye on the Brisbane property market in real time with our live auction coverage.
Good morning Brisbane, we've got an action packed day of auctions today, starting in Norman Park, Alderley and Taringa at 9am.
SEE THE LIVE COVERAGE AND BLOG BELOW
The gavl feed will run throughout the day and our live blog will capture auction results from across Greater Brisbane.
LIVE BLOG
It was fierce competition across Brisbane today with great results across the greater region with some fantastic highlights:
– A new suburb record for Hendra has been set with a prestige home selling for $5.34m
– Families flock to get out of the rental market as buyers as the market gets more competitive.
– The Art Deco complex in South Brisbane sold for $3.6m and is expected to remain as rentals.
The live stream will continue, and we'll be with you next weekend.
A three-bedroom, two-bathroom, 1920s Queenslander has sold under the hammer for for $1.750m with an opening bid of $1.2m.
Five registered bidders took part in the auction with three remaining active throughout.
According to PropTrack the median house price for Manly between July 2022 and June 2023 is $4.032m, down 9.4%.
A four-bedroom, two-bathroom home at 75 Northgate Rd, Northgate has sold under the hammer for $1.1m with an opening bid of $800,000.
Four registered bidders took part in the auction.
Property agent Keith Mahon from Ray White Ascot said it was a text book campaign.
‘It was an Interesting mix of owner occupiers, a few interstate buyers and investors,”
"The auction moved very quickly. We had about 100 inspections on that one," Mr Mahon said.
"The buyers were mainly people upsizing, the eventual buyer was a young family with two kids wanting to get out of the rental market.
"We're finding that if a house doesn't need a lot of work it sells pretty quickly, stock is still tight at the moment. We may see stock levels increase into spring.
"Buyers are coming in prepared and well aware of what has been happening with the interest rates over the last twelve months, there's another two rate rises yet to come I think."
A well-known developer has snapped up a property at 63 Lily St, Hendra for an undisclosed price. The auction had an opening bid of $1.2m with five bidders registered.
Property agent Chrese Morley from Ray White Ascot said it was an excellent result today.
"A really well known property developer is going to do a new build," Ms Morley said.
"The market is really tight for us in Hendra, we don't have a lot of investment stock to rely on, we're facing quite a shortage of stock at the moment.
"I think people sell as needed and based on market conditions, it's a heavily protected market here, it's not mortgaged. It's a great suburb to be in."
An Art Deco apartment complex at 185 Vulture St, South Brisbane has sold under the hammer for $3.6m with an opening bid of $2.8m.
The property's eight renovated apartments capture the history of this stunning building while providing a sense of modernity and elegance with its Art Deco design.
Auctioneer Peter Burgen said we were in the golden age of residential living in Brisbane.
"From an investment point of view, it doesn't get better than this," Mr Burgen said.
Property agent Aaron Woolard from Place Estate Agents, New Farm said there was a lot of interest in the property.
"The eventual buyers have been interested in the property since day 1. They'll continue to rent it out," Mr Woolard said.
"It ceases to amaze me how incredibly resilient our market keeps outperforming itself, the lack of supply has a lot of do with it."
An international buyer has snapped up a four-bedroom, two-bathroom home at 15 Lohe St, Indooroopilly for $2.28m with an opening bid of $2m.
The auction had about 50 people attend in person.
Property agent Matt O'Neill of Place Estate Agents Graceville said the result today was a pleasing outcome.
"The buyer that purchased today flew in from overseas, I've been in contact with him for a couple of months," Mr O'Neill said.
"The market is really tightly held here, there's probably only about 45 transactions per year so people that buy here like to stay here.
According to PropTrack Indooroopilly's median sale price between July 2022 to June 2023 is $1.45m, a 6.5% increase.
A three-bedroom, two-bathroom home at 52 Hilda St, Alderley has sold under the hammer for $1.24m to an investor from Bundaberg.
A crowd of more than 100 people came out to the auction with 11 people registering to bid.
Property agent Jessie Hall from Ray White Wilston said five active bidders at the auction pushed the price to $1.24m.
“My seller Thelma wore pink and it was her day to celebrate for sure. The weather turned it on and I had quite a few clients come out as they wanted to see what’s happening in the market”, Ms Hall said.
"It was an investor who won the keys but we had a lot of families and even developers interested in it, it’s such a big block with a big frontage.
"Now is a great time to sell as there’s hardly any competition at all and lots of active bidders and buyers.”
A four-bedroom, three-bathroom home at 61 Goodwood St, Hendra has sold under the hammer for $5.34m with an opening bid of $3.6m.
The auction saw a large crowd turn out to spectate the auction.
Property agent Tom Lyne from Ray White New Farm said the result today was fantastic for his clients.
"We broke the suburb record today by over $340,000", Mr Lyne said
"I don't see the prestige market slowing down, stock levels are still incredibly tight.
"This house allows someone to just move in and enjoy.
"The inner north has come a long way, people that may not have looked at Hendra before can see that it has got a lot for families: good schools, good cafes…"
Justin Nickerson from Apollo Auctioneers said the result today was fantastic.
"Two factors drive auctions like this one is a buyer that is emotionally engaged, two is the strong competition as we saw in this auction where the bidders were pushing it up to the mid fours", Mr Nickerson said.
"We've noticed the prestige market has been the strongest, it's the least effected by the interest rates."
A five-bedroom, three-bathroom home at 40 Agnes St, Auchenflower has sold under the hammer for $2.89m in a nail biting auction lasting 35 minutes.
In what started out as with an opening bid of $1.75m with the auction pausing at $2m saw buyers come back more competitive than ever with 5 registered bidders eying off their keys to the Auchenflower residence.
Property agent Reuben Packer-Hill from Ray White Toowong said the auction had a surprisingly strong turnout.
"It was very competitive bidding. we sold the home to a young family that were looking to upsize", Mr Packer-Hill said.
"We haven't seen competitive bidding like this for a good 12-18 months, it shows us how strong the upper end of the market is.
"The under supply is a huge challenge for buyers at the moment."
According to PropTrack the median house price for Auchenflower from July 2022 to June 2023 is $1.425m.
A renovated two-bedroom, one-bathroom apartment at 1/69 Oxford Terrace, Taringa, has sold for $541,617.
The auction kicked off with an opening bid of $400,000, with five registered bidders eying off their slice of Brisbane's property market.
Property agent Jade Kingi from Coronis – Inner West said today's auction was extremely busy.
"There was plenty of competition from local buyers and interstate", Mr Kingi said.
"The result was above ours and the owner's expectations.
"The market in our patch is extremely buoyant with plenty of buyers.
"There are few opportunities for buyers with few opportunities on the market at the moment."
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