Good morning Brisbane, we've got an action packed day of auctions today, starting in Albion and Morningside at 10am.
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
65 properties will head to auction on Saturday
Brisbane has a 58 per cent auction clearance rate from last week
Will Thor's hammer come out again as Jason Adcock takes 37 Kent St, Hamilton to auction? Picture: Debra Bela
Live Updates
Signing off
New owners celebrate their purchase of their Morningside home. Picture: David Bonaddio
That's a wrap thanks for joining our live auction coverage today. It has been a busy day of auctions.
Some highlights: * There were eight registered bidders at a luxury property in Eight Mile Plains selling for $1.8m * New buyers relocating from Melbourne to Brisbane were motivated by covid to move up north finally landed a stunning unit in Morningside, selling for $970,000 * One of Kedron's finest properties, located in Kedron's 'Pauda Precinct' sold for $2.65m to a local Hendra family with 7 children.
The live stream will continue and we'll be with you next weekend.
Prestigious Hamilton property sells prior to auction
37 Kent St, Hamilton Agent: Elisa McMahon, Adcock Prestige
A sophisticated and stylish property located at 37 Kent St, Hamilton, has sold prior to auction with the price currently disclosed. Property agent Elisa McMahon from Adcock Prestige said the result was great for the seller and the buyer. “Prices are remaining firm, demand is strong, anything $2m and above there is a strong demand for that”, Ms McMahon said. Ms McMahon said there had been a whopping 130 inquiries on the Hamilton property and that the prestige real estate industry had not been impacted by the recent interest rate hike.
Strategic bidder in Eight Mile Plains scores luxury property
9 Bowers Street, Eight Mile Plains Agents: Zora Liu & Alan Gu and Property and Sales Director: Lachlan Smith, LJ Hooker Property Partners Sunnybank and Mount Gravatt.
A local Brisbane buyer has scored a luxury state of the art home with 5 bedrooms and 4 bathrooms at 9 Bowers St, Eight Mile Plains, selling for $1.8m. Eight registered bidders took their chance at getting the keys to the Eight Miles Plains residents, with the opening bid starting at $900,000. But, the eventual buyer strategically waited for the right moment to strike. Property agent Alan Gu from LJ Hooker, Sunnybank and Mount Gravatt said the buyer stayed silent for most of the auction until it was announced the property was on the market at $1.75m. "It's a good time to sell, the overseas borders are open, and we have a lot of buyers looking for property", Mr Gu said.
9 Bowers Street, Eight Mile Plains
"Eight Mile Plans is a central location; it has a lot of potential heading towards the 2032 Olympics, the Brisbane Metro, satellite hospital and the location can take you anywhere across South East Queensland". Mr Gu said while the interest rates had increased the market has balanced out due to the lack of homes for sale across Brisbane.
9 Bowers Street, Eight Mile Plains
Partner and Sales Director Lachlan Smith from LJ Hooker, Sunnybank and Mount Gravatt said the result was strong, with a large crowd attending the auction. "Most of our auctions are clearing; owners are overall very happy", Mr Smith said. "I think the interest rates are having very little impact; there's not a lot of property on the market and plenty of buyers, so things are pretty strong." A total of 20 bids were made throughout the auction.
1 Lawler St, Chermside
1 Lawler St, Chermside Agent: Nick Thornton, Ray White – Chermside
Interstate buyers have snapped up a three-bedroom, one-bathroom property at 1 Lawler St, Chermside, in a nail-biting auction. The property sold for $860,000, with three bidders fighting hard to get their slice of the Brisbane property market. The opening bid for the auction was $700,000, with the reserve at $780,000. Property agent Nick Thornton from Ray White, Chermside, said the result today was excellent and was being kept busy by Brisbane's bustling property market. "Put it this way, in the last three years, I haven't had a holiday", Mr Thornton said. "The investor market is strong in the marketplace, especially our southern investors".
1 Lawler St, Chermside
"Our first home buyer bracket is $700,000 to a 1 mill; who would have thought I would have said that five years ago," he said. Mr Thornton stressed there was still pressure on the buyers to perform and not the sellers just to accept a silly offer.
Clayfield 'blank canvas' passes in but could be sold under conditional offer
61 Wongara Street, Clayfield Agent: Dwight Colbert, Ray White – Aspley
A three-bedroom, one-bathroom renovators or developers delight at 61 Wongara St, Clayfield, has passed in. Still, property agent Dwight Colbert from Ray White, Aspley, said the 'blank canvas' property could be sold before the weekend is out. "We've had a buyer put in a conditional offer which looks like it will be accepted," Mr Colbert said.
61 Wongara Street, Clayfield
"The (potential) new owners are going to renovate the house as an investment", "Interest rates haven't had much of an impact on selling". "We are finding there are a lot more buyers and buyer confidence in the market". "People have come to terms with the interest rate rise, and things are returning to normal".
57 Cleveland Street, Stones Corner
57 Cleveland Street, Stones Corner Agent: Richard Morrison and Carly Morrison, Morrison Project Consulting Pty Ltd
A 5 bedroom, two-bathroom home at 57 Cleveland Street, Stones Corner, has passed in on a vendor bid at 1.15m The auction had 1 registered bidder. Property agent Richard Morrison of Morrison Project Consulting Pty Ltd attributed the recent rise of interest rates to the lack of sales. "We had marketed that property previously last year; we had more people inspecting the home last year." This time it seems to be a thinner market." The property is a beautifully renovated workers' cottage, with the present owners securing a DA for health care services and an office space underneath the existing house. The property is also a potential investors delight, with five bedrooms separately leased to students.
24 Stanley Terrace, East Brisbane
24 Stanley Terrace, East Brisbane Agent: Madi Roche and Gary Price, The Agency – Brisbane
This five-bedroom, two-bathroom nestled at 24 Stanley Terrace, East Brisbane, in a lush green tropical setting, sold under the hammer for $1.275m. With the opening bid at $900,000, the four registered bidders fought tooth and nail to get the keys to this private tropical oasis, with the property being called on the market at $1.250m. Property agent Madi Roche from The Agency – Brisbane said the auction went really well with lots of active bidding. "This property was a three-week auction campaign, we saw 45 inspections which was really positive". "In the past twelve months, our clearance rate is 95% either under the hammer or prior to is pretty good, we've only passed one property in," Ms Roche said. Despite the property being impacted by floods in the past, Ms Roche said there was still plenty of interest in the property.
21 Backhousia Crescent, Sinnamon Park
21 Backhousia Crescent, Sinnamon Park Agent: Leo Liu, NGU Real Estate – Toowong
A four-bedroom, two-bathroom property at 21 Backhousia Crescent, Sinnamon Park has been passed in, despite having five registered bidders. There was lots of interest, the agent is not revealing the price at this point and is negotiating with the prospective buyers. Property agent Leo Liu from NGU Real Estate, Toowong said the possibility of the property selling would depend on how the negotiations with the five registered bidders. "Buyers are in demand at the moment, we have a lot of people looking to upgrade their homes as well as people looking for their first home", Mr Liu said. According to PropTrack data, the median house price for Sinnamon Park between May 2022 and April 2023 is 1.1m, a 10.6% increase in the last 12 months.
One of Kedron's finest sells to local Brisbane family
7 East St, Kedron Agent: Alistair Macmillan, Ray White Wilston
One of Kedron's finest properties, located in Kedron's 'Pauda Precinct' at 7 East St, has sold for $2.65m to a local Brisbane family. This five-bedroom, three-bathroom Hampton's stunner had an opening bid of $2m and then ran up in $100,000 increments. Property agent Alistair Macmillan from Ray White Wilston said the selling price was a record for the land size of 592sq m in Kedron.
7 East St, Kedron Agent: Alistair Macmillan, Ray White Wilston
"A family from Hendra with seven children were looking for a big family home, they are delighted with the results, and so are my sellers". Mr Macmillan said Ray White Wilton's office was flying with a 98 per cent clearance rate this year with an average of six registered bidders. "Prices in our area are very firm, and the market's resilience in the face of 12 rate rises is incredible", Mr Macmillan said.
Stafford Heights auction at 76 Pangeza St lasts only 11 minutes!
76 Pangeza St, Stafford Heights Agent: Holly Bowden, Ray White – Wilston
A five-bedroom, two-bathroom contemporary masterpiece backing onto luscious parkland at 76 Pangeza St, Stafford Heights has sold for $1.65m with the auction lasting only 11 minutes.. The new buyers were a local Brisbane family excited to upsize and move into a bigger home. 13 bidders registered for their chance to grab this stunning home. The auction had strong prospective buyers with an opening bid of $1m, quickly jumping up to the eventual sale price of $1.65m
76 Pangeza St, Stafford Heights Agent: Holly Bowden, Ray White – Wilston
Property agent Holly Bowden from Ray White, Wilston said she was excited at the result today after a solid four week campaign. “It’s a street record, there was a property that recently sold that was more contemporary with around the same size block”, Ms Bowden said. “The market is strong, I had 150 groups through this property” “There was a positive vibe overall at the auction people were geared up to get the keys”.
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