An interesting day of auctions all across Greater Brisbane today.
It has been an interesting day of auction across Greater Brisbane today! There is certainly lots of buyer confidence around with some feeling more comfortable with making offers outside of auction conditions.
Some highlights of today:
– An Ashgrove home saw a massive 25 bidders register for auction with a great result for the vendors. – A great auction in Tarragindi with a whopping 31 bids across eight registered bidders. And a Wilston auction sells under the hammer for $3.5m
The live stream will continue, and we'll be with you next weekend.
117 Westlake Drive Westlake, Agent: Jason Yang, NGU Real Estate
A four-bedroom, two-bathroom home at 117 Westlake Drive, Westlake has been passed in with negotiations taking place with a number of parties. Five bidders registered to take part in the auction. Property agent Jason Yang from NGU Real Estate said the result today was very interesting. "Buyer confidence is definitely coming back but we're seeing post-auction negotiation where buyers are putting in finance clauses just to be safe," he said.
‘Confident bidding’ lands young couple with Ashgrove home
48 Celia St, Ashgrove Agents: Angela and Harrison Mastrapostolos, Oikos Real Estate Bardon
A popular listing in Brisbane’s northwest saw a nail-biting auction on Saturday as 25 bidders eyed their slice of the Brisbane property market, with the home selling well above reserve. The two-bedroom, two-bathroom home at 48 Celia St, Ashgrove, sold under the hammer for $1.65m to a young Brisbane couple from New Farm with an opening bid of $1.1m. A crowd of around 60 people attended the auction, which caught the eye of several curious neighbours.
The property attracted so much interest the auction had to be moved forward a week.
Property agent Angela Mastrapostolos from Oikos Real Estate Bardon said the result was fantastic. “We had to move the auction forward a week as the listing was so popular,” she said. “There were 11 offers before the auction, and even though we were at a level that the vendor and I considered strong, we still wanted to proceed with the auction.“It went for well above what we were expecting.” Ms Mastrapostolos said her advice to sellers in the current market would be to go to auction. “Because we’re lacking properties across Brisbane, if you’ve got a high-quality product, you would be foolish not to go to auction.
Trade delays and shortages are seeing more buyers flock to finished products
“A lot of my sellers meet the market value anyway but putting them in an auction situation, and you’re more than likely going to get a premium result like this one. Auctioneer Justin Nickerson from Apollo Auction said this auction would be his lead story for the next few weeks. “An extraordinary number of people turned out to the auction, and the interest was phenomenal,” he said. “The property’s presentation was first class. “When you’ve got the delay and costs of trade, a property like this makes it a very attractive decision to buy into. “The home is a 90-year-old cottage with a lot done to it.“Most bidders were young professionals, and we saw very competitive bidding.” Mr Nickerson said his advice to buyers is to come ready and prepared for auctions. “The people who generally win auctions, they’ve done the research, and they’re the most confident. They go into the auction with a real plan and strategy. “For this auction, the buyer that secured the home was the one who was bidding quite quickly, which put pressure on their opposition. “I think when bidders appear confident and put large bids in place rather than putting in small bids and slowing things down are guaranteed success. “When you bid confidentially, it puts doubts in your opposition’s mind.”
50/38 Brougham Street, Fairfield Agent: Eadan Hockings, Ray White New Farm
A two-bedroom, two-bathroom apartment at 50/38 Brougham Street, Fairfield has sold under the hammer for $610,000 with three registered bidders. Property agent Eadan Hockings from Ray White New Farm said the sale was a really good cross-section of the market. "Bidding was good we sold to a first home buyer who had been looking for a little while, it was the first time she had bid at auction."
Great feedback from neighbours as Alderley home sells under the hammer
10 Girton St, Alderley Property agent: Janine McDonald, Ray White Alderley
A four-bedroom, one-bathroom home at 10 Girton St, Alderley has sold under the hammer for $1.359m to a young couple from New Farm. Five registered bidders took part in the auction and were all active. Two bidders were going back and forth throughout the entire auction until the property was secured under the hammer. Property agent Janine McDonald from Ray White Alderley said the property sold over reserve and the vendor was also very happy. "We’re had great feedback from surrounding neighbours who are pleased with the result as well," Ms McDonald said. “If you're a buyer and you're wanting to take part in an auction be prepared to bid hard. "Participation is a really good thing in auctions, even if you're not successful. "By participating in a price point you’re willing to pay you’ve really got nothing to lose.
Property agent Janine McDonald from Ray White Alderley said "Participation is a really good thing in auctions, even if you're not successful."
Ms McDonald said buyers should have their limit set within their budget but also be flexible around their expectation around the idea that they’re willing to pay. "We’re seeing all signs the market is going to continue to be as strong as it has been," she said. "When I looked at Alderley realestate.com there was a few homes for sale, in my 25 years of real estate I've never seen that before. “I say to my sellers that the properties that are selling the best are the picture perfect ones. "The smallest of details make the difference and you'll most likely get a premium price." The seller of the property was an investor looking to take advantage of equity.
98 Beck St, Paddington Agent: Caroline Brown, Caroline Brown Property
A three-bedroom, two-bathroom home at 98 Beck St, Paddington has sold under the hammer for $1.910. Six registered bidders took part in the auction. Auctioneer Justin Nickerson from Apollo Auctions said the auction was competitive.
Auctioneer Justin Nickerson from Apollo Auctions said the auction today was competitive.
"The auction pushed past what we were expecting," he said. "There was strong competition from two bidders which pushed it up to a premium level. "The stock has to increase, we've seen record low stock levels over the last 18 months so I think it has to increase, particualrly over the Spring period. "I don't see it being a flood I think it will pre-up somewhat."
18 Brae St, Coorparoo Agent: Michael Hatzifotis, Place Kanagaroo Point
A five-bedroom, three-bathroom home at 18 Brae St, Coorparoo has passed in for $2.3m with an opening vendor bid of $2.2m. Property agent Michael Hatzifotis from Place Kanagaroo Point said there was a number of negotiations in play. "We're really close to a sale outside of auction conditions," he said. "We'll get the sale done in the next 24 to 48 hours.
The home has great buyer interest outside of auction conditions.
"The Brisbane property market is really strong in certain pockets, we are seeing the buyer pool changing though. "With the building and construction costs up at the moment buyers are wanting finished homes that they can just move into."
523 Old Cleveland Rd, Camp Hill Agent: Shane Hicks, Place Camp Hill
A five-bedroom, two-bathroom home at 523 Old Cleveland Road Camp Hill has sold under the hammer for $1.635m with an opening bid of $1.4m. Four registered bidders took part in the auction. Property agent Shane Hicks from Place Camp Hill said it had been a great weekend of auctions. "Look we're very happy with the sale," Mr Hicks said. "The ironic thing is the sellers are moving to Carindale and the buyers are coming and the buyers have come from there. "The market is remaining really strong at the moment."
147 Fernvale Rd, Tarragindi Agent: Shane Hicks, Place Camp Hill
A three-bedroom, one-bathroom home at 147 Fernvale Road, Tarragindi has sold under the hammer for $1.120m with an opening bid of $900,000. A whopping 31 bids were made at the auction with eight registered bidders. Property agent Shane Hicks from Place Camp Hill said buyers were in a good mood at the moment to purchase. "It was a really successful auction," he said. "We called the property on the market at $1.095m." The eventual buyer was a Brisbane local bidding on the phone from the Gold Coast.
Property agent Shane Hicks from Place Camp Hill said "limited stock is leaving buyers in fear of selling their homes and having no where to move into."
Mr Hicks said the under bidder was a Sydney family that have been looking for quite a while trying to break into the tight Brisbane property market. "At almost every single auction we've had interstate interest, it has been a great weekend for auctions. "We need the stock to increase just a little bit. "People aren't putting their homes on the market. "There isn't enough stock on market for vendors to feel confident to sell their home."
25 Prospect St, Wilston Agent: Matt Lancashire and Pat Goldsworthy, Ray White New Farm
A five-bedroom, four-bathroom home at 25 Prospect St, Wilston has sold under the hammer for $3.5m to a local couple with their six month year old baby in their arms. The grandparents were on side at the auction for support while auctioneer Hasley Cush's daughter was penciling at the auction. The home's sellers were empty nesters who had owned the home for 20 years and had bought another property off the Ray White team. The owners lived in that same street for 20 years, but 10 years ago they moved into the house they just sold. They loved the street and neighbourhood so much, they just wanted a better location which is why 10 years ago they moved further up.
25 Prospect St, Wilston
Property agent Matt Lancashire from Ray White New Farm said "As a buyer, you can’t tell what the neighbourhood is like but a great testatment is if the previous owner buys in same street it gives such a great insight." "The owners bought it off the original owner (who had it for 80 years), so this if only the third owner in 100 years. "The son in law of the original owner was there at the auction and gave a sketch of the house from the original owners to the new owners who just bought the property."
