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 Seven Hills and Hendra at 9am.
SEE THE LIVE COVERAGE AND BLOG BELOW
Brisbane heads to auction with a 40% auction clearance rate from last weekend.
The gavl feed will run throughout the day and our live blog will capture auction results from across Greater Brisbane.
What a fantastic day of auctions across Greater Brisbane! With fantastic results across the board.
Some highlights:
– A massive 31 bidders turned up to a Geebung auction with the home selling under the hammer for over $2m.
– A Northern Territory investor came into the race last minute and snapped up a gorgeous Ascot home for $2.1m
– Eight Mile Plains continues to be in high demand with a home selling for $1.52m
The live stream will continue and we'll be with you next weekend.
A two-bedroom, one-bathroom home at 36 Hefferan St, Fairfield passed in with two registered bidders.
Despite todays result, property agent Angela Steven from Ray White Stones Corner said she has buyers lined up to purchase the home.
"We've got buyers at the moment, just not under auction conditions, I'm confident we should sell early next week", Ms Steven said.
"We've got amazing buyers at the moment, some of them are in the early stages of financing.
"There is a lot of buyer activity, with the shortage of stock buyers are missing out and when they've missed out a few times they come into the market more competitive and prepared".
A five-bedroom, three-bathroom waterfront home at 28 Tarrabool St, Westlake has sold for an undisclosed price.
The auction had eight registered bidders with competitive bidding throughout.
Property agent Jason Yang from NGU Real Estate said the opening bid was very strong and the owners were very happy with the outcome today.
"They bought this house a year and a half ago for $1.16m and they have well and truly capitalised on it", Mr Yang said.
"We floated the idea of a strong opening bid and we got it!.
"The property is conveniently placed with good schools, parks, golf course, shopping centre and cinema have seen a lot of families coming to the area.
“The winning bid was a via phone from interstate in Sydney, they went up to the level where other local buyers had stopped bidding and wiped out most of them from the start”, Mr Yang said.
“For this area there's less stock than other suburbs anyway from what I’ve seen.
"What is driving the prices up in this area is the lifestyle options that it offers, especially families in the centenary suburb of Westlake 4074".
A six-bedroom, three-bathroom stunning tri-level property at 24 Lanercost St, Geebung, has sold under the hammer for $2.025m, with a massive 31 registered bidders and 120 groups visiting the property across the campaign.
The auction had an opening bid of $1.1m.
Property agent Angela Duncan from Ray White Aspley said the property is a unique contemporary build".
"It has six bid rooms and heaps of living room and entertaining space", Ms Duncan said.
"The buyer pool was mostly families with primary and high school-aged kids.
"A couple of bidders were also big families looking for a home appropriate for multigenerational living.
"The lack of stock is driving the prices of big family homes like this one up".
The winning bid went to an upsizing young family, while the sellers were a young family who did a slow flip over three years.
A five-bedroom, two-bathroom home at 17 Yvonne Rd, Eight Mile Plains has sold for $1.37m.
The auction had 11 registered bidders and an opening bid of $850,000.
Property agent Alan Gu from LJ Hooker Sunnybank Hills said the auction went incredibly well today.
"It’s insane, for this little double story townhouse, the owner tried to sell it 3 years ago and it didn’t sell, this is a fantastic result", Mr Gu said.
“This auction went really smooth, all the bidders coming into the auctions are super confident.
“The new owners are local buyers and missed out on a few property, they live nearby in the surrounding suburbs so they’re familiar with the area, they like the location and their kids go to the local school”.
Mr Gu said Eight Mile Plains and Rochedale are two of the hottest suburbs in Brisbane due to the lack of stock.
"The lack of supply is definitely driving the prices up, since the borders have opened up and the demand has increased", Mr Gu said.
A five-bedroom, three-bathroom home in the sought after area of Balmoral at 42 Kuranda St, sold today under the hammer for an undisclosed price.
Four registered bidders took part in the auction with one lucky bidder scoring the home.
According to PropTrack the median house price in Balmoral between May 2022 and April 2023 is $1.49m, which is 2.4% up on the last 12 month
A Northern Territory investor has snapped up a four-bedroom, two-bathroom home at 96 Crosby Rd, Ascot for $2.128m, $28,000 over the reserve.
The auction had seven registered bidders, with five actively taking part in the auction.
Property agent Nick Roche said the buyer had only enquired last night and registered this morning.
"The buyer didn't come in until the last minute, i'm pumped this is an phenomenal result for the area", Mr Roche said.
"I know there are a lot of people at moment looking for a property in the Brisbane in the lead up to Brisbane Olympics.
"We’ve really been following Sydney and Melbourne's property market and chasing them down, we’re not there yet, I see prices going up in the next 10 years", Mr Roche said.
“We’re getting really good demand for anything new and modern that people can move straight into. Those types of homes are seeing really strong results.”
The sellers were a local couple having raised their kids in the home and are nw downsizing.
A five-bedroom, four-bathroom property at 27 Demigre St, Eight Mile Plains has sold under the hammer for $1.52m with an opening bid of $900,000.
Today's auction had a total of 13 bidders eyeing for their slice of Brisbane's property market.
Property agent Aaron Yao from Ray White Rochedale said the numbers today speak for themselves.
"The auction result today was pretty good, the buyers are Brisbane locals looking to upsize from their current home", Mr Yao said.
"I do feel like the property market is short of supply at the moment, buyers are not as crazy as they were this time last year.
"There are no signs of properties decreasing value.
"Buyers are definitely more confident in the market.
"Some of the open homes we've had there has been 40 to 50 people in attendance which is higher than before the interest rate rise".
A four-bedroom, two-bathroom home at 41 Morialta Place, Parkinson sold for $1.2m with 10 registered bidders and an opening bid of $800,000
Property agent Jason Song said it was a great auction "It was quite dramatic, it was good seeing so many people".
"The market is really strong at the moment, buyers are definitely more confident",Mr Song said.
"If you're looking into selling in Parkinson now is a good time to sell with us".
Mr Song said the new owners are local to Brisbane.
A four-bedroom, two bathroom property at 11 Aldea Place, Stretton has sold under the hammer for $1.210m with an opening bid of $850,000 and 16 registered bidders.
Property agent Peter Florentzos from LJ Hooker Sunnybank Hills and Mt Gravatt said there was between 20 and 30 bids at the auction.
"It was a fantastic result, we have a very strong property market in Brisbane at the moment", Mr Florentzos said.
"I'd argue that the market is stronger than this time last year, the supply issue has a little bit to do with it.
"The buyers confidence in the market is high with the interest rate rise having a bearing on a small part of the property market".
The PM could make around half a million dollars after selling his investment property this Saturday and benefiting from the contentious capital gains tax discount. See the video.
One of the Gold Coast’s oldest motels, the largest of its kind, is set to undergo a dramatic change which would mean something quite different, if realised.