80 Oxlade Drive, New Farm Agents: Sarah Hackett and Matthew Foote, Place New Farm
Good morning Brisbane, we've got an action packed day of auctions today, starting in Camp Hill at 8am.
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The gavl feed will run throughout the day and our live blog will capture auction results from across Greater Brisbane.
LIVE BLOG
Brisbane heads to auction with a 51% auction clearance rate from last weekend.
Live Updates
Auchenflower home sells for $1.25m
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62 Haig Road, Auchenflower. Agent: Micheal Oslar
A three-bedroom, three-bathroom home at 62 Haig Road, Auchenflower was sold under the hammer for $1.25m.
The auction started with the opening bid of $1.1m and had three registered bidders, out of which two were actively bidding.
Property agent Micheal Oslar from Place Woolloongabba said the property got a fair price and the best part of the property was the home office. “The campaign resulted in a fair price for the property, sellers were very happy with the price and 40 groups came through the doors,” Mr Oslar said. “The best feature about the property is the home office downstairs which is currently rented out."
Living and dining area with bi-fold doors opening to the enclosed verandah
Mr Oslar also said the property market seems to be booming in 2024 and the market is very competitive as per feedback from buyers. “The Brisbane property market is in a boom for this year,” he said. “The feedback from the buyers is the market has gotten very competitive because of the less stock in the market and more demand.”
Kuraby home sells for $877,088
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21 Gungurru Crescent, Kuraby. Auctioneer: David Holmes
A four-bedroom, two-bathroom house at 21 Gungurru Crescent, Kuraby has been sold under the hammer at $877,088.
Three bidders were competing for the property among the 40 at the venue.
Up from $875,000, the auction continued for 45 minutes.
Holmes Auction chief auctioneer David Holmes said the clearance rate for auctions is going to be very high.
The living spaces are open and spacious, creating a welcoming atmosphere.
“I think we are going to have another year where we have a limited stock because of the constraints on construction,” Mr Holmes said.
“I think prices are going to steadily keep increasing.
“We have above average registered bidders per auction, and with a limited supply, that's not going to go away.
“In fact, some of the crowds that we're seeing are almost the same as when it was COVID.”
Local Event: 120 spectators watch Jindalee home sell for $1.4m
68 Mount Ommaney Drive, Jindalee Agents: Steven Kremer and Tia Borg, Kremer and Co
A four-bedroom, three-bathroom house at 68 Mount Ommaney Drive, Jindalee has been sold under the hammer for $1.4m. A whopping 120 spectaculars were at the auction, transforming it into a local event by cold drinks and sausage sizzles to share the tension with the five registered bidders. The auction started off with a strong bid of $1.3m.
A whopping 120 spectaculars were at the auction, transforming it into a local event by cold drinks and sausage sizzles to share the tension with the five registered bidders.
Among the 68 groups who went for inspection, a family scored the keys to the property to end their rental journey. Director Steven Kremer from Kremer and Co said the suburb has a strong locality. “There’re 16,155 homes in the suburb and there’s only 98 rental properties,” Mr Kremer said. “They want to be there and want to live there. “It seems like the turnover time of properties is becoming longer and longer because people are just wanting to stay put and enjoy where they are.”
A huge crowd turned out for the competitive auction at 80 Oxlade Drive, New Farm today.
An iconic four-bedroom, three-bathroom city view penthouse at the prestigious Oxlade Complex at 80 Oxlade Drive, New Farm has sold under the hammer for $4.92m with an opening bid of $4.2m. Five bidders registered to take part in the auction, with highly contested competition throughout the auction. Residence 35 includes a private entry gallery allowing for direct lift access to the apartment which includes soaring ceilings, natural stone finishes and timber flooring. The cityside penthouse boasts free flowing, light-filled spaces embracing the Brisbane afternoon sunsets.
The stunning pool on offer to residents
Managing director at Place Estate Agents, New Farm said the auction was a record sale for the city side of the prestige apartment complex. "The apartment had a 28 per cent growth from when it was last sold. The highest bidder really wanted a brand new apartment and there wasn't enough supply, so they were going to go hard on it," Ms Hackett said.
The apartment has been crafted to meet the high-end buyer's needs.
"At the end of the auction at $4.6m, there were two people bidding heavily and very hotly contested. It was very stressful for both groups trying to win the bid. "The underbidders were a family and obviously a four bedroom penthouse with beautiful finishes was very appealing to them. The eventual winning bidders were empty nesters." Ms Hackett said stock was tight for the luxury apartment market. "Last week I sold 15 Wentworth Parade Balmoral for $5.475m the day before the auction, a suburb record. The reason why all these deals are transferring quickly because people have underestimated the escalation of the construction costs," she said.
The apartment is a once in a lifetime opportunity for buyers
"With what’s happening they’ve proven that Queensland is the most expensive state to build in. We’re going to run out of supply in 2026. There is a huge demand for people wanting to move to one level living, they’ve got money so they don’t want to compromise. They want to look at the river or the city. The things that come with that is security, people are frightened with so many home invasions. "For first home buyers, you just have to get into the market, you reap the rewards years later. For young people, take advantage of homes that aren’t fully done and you can polish floorboard one year and paint it the next . There is some great opportunities in Brisbane."
Kings Beach apartment sells for $1.15m
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2/38 Victoria Terrace, Kings Beach. Agent: Yianni Mooney
A three-bedroom, two-bathroom apartment at 2/38 Victoria Terrace, Kings Beach was sold under the hammer for $1.15m with an opening bid of $950,000. The auction had two registered bidders with very solid bidding. Director Yianni Mooney from Yianni Mooney Property Caloundra said the campaign went very well and the best part of the property was the view. “The auction went really well with very good bidding and sold for very solid price,” Mr Mooney said.
Gourmet kitchen has quality appliances, large island bench, loads of storage.
“This could be one of the highest prices for a ground floor unit in the nearby suburbs.” “The best part about the property is that usually ground floor units don't have a view but this apartment has a decent view.” Mr Mooney said the property market has looked positive in the first six weeks of the year.
Master bedroom with private en-suite
“The market has looked really good in the first six weeks and shown the positive rate,” he said. “If we look at Sydney and Melbourne, Brisbane has a lot of growth to happen in the next few years.”
10 Terrace Street, Paddington Agent: Judi O'Dea, Ray White Paddington
A two-bedroom, two-bathroom home at 10 Terrace Street, Paddington has sold under the hammer for $1.65m with an opening bid of $1.3m. Lead agent Judi O'Dea from Ray White Paddington said what made 10 Terrace Street particularly attractive was its proximity to Olympic Games venues.
Strong competition was evident throughout the campaign
“I am thrilled to see the level of interest and competition for this property, Ms O'Dea said. “The strong bidding activity reflects the desirability of Paddington as a prime investment location, and I am confident that the buyer has made a wise choice."
Yeronga home sells under hammer for the first time in half a century
A three-bedroom, one-bathroom home at 200 Hyde Road, Yeronga has sold under the hammer for $1.05m with an opening bid of $900,000. Three bidders registered to take part in the auction. The home went to auction for the first time in half a century. Property agent Mark Diamond from ATLAS was the lead agent for the property. "The young family who secured the home today actually gave an offer prior to auction. The new owners are from Yeronga upgrading from a townhouse to " Mr Diamond said.
The home sold for $1.05m
"Steady number of buyers came through, good interest prior to auction. I think it's going to be a steady year this year, there looks to be a steady growth." Auctioneer Justin Nickerson from Apollo Auctions said this weekend had been unique has he had called several auctions today where family's have owned the home for over four decades. "There was a good atmosphere at the auction today. Lots of young families and young family secured the home
A four-bedroom, two-bathroom home at 71 Kalimna Drive, Broadbeach Waters was sold under the hammer for $1.304m.
There were six registered bidders with the opening bid of $1m
Property agent Mitch Slattery from Professionals John Henderson said the auction was very consistent with the competition and the campaign was well received. “The auction was pretty consistent throughout the auction but it slowed down a little bit around $1.25, eventually stopping at $1.304,” Mr Slattery said.
The home is a stone's throw from Broadbeach's vibrant core, with easy strolls to local amenities including shops, cafes, restaurants, parks, and public transportation.
“The campaign was pretty well received with a big lot of numbers and big transacted but the open homes were not very overwhelming.” “The most standout feature of the property is the affordable entry dry block and access to back water.”
The 660 sqm home has an expansive grassy area, ripe for a potential pool installation and Climate-controlled living space, master bedroom, and second bedroom.
Mr Slattery said the Gold Coast market looks really good.
The home has an expansive grassy area, ripe for a potential pool installation.
“There is a lot of activity in Gold coast in terms of buying, selling and interest,” he said. “We are getting a lot of interstate buyers in South East Queensland and have got plenty of attention.” We (Brisbane and Gold Coast) are on a potential map with the market interest in comparison to last five years and have got a plenty of appeal by the buyers.”
56 Craigmont Street, Tarragindi Agent: Jonah Burrell and Mia Han, Burrell Property Group Tarragindi
A four-bedroom, three-bathroom home at 56 Craigmont Street, Tarragindi has sold under the hammer for $1.564m with an opening bid of $1.43m. The whopping 25 bidders were eying their slice of the highly sought after Tarragindi home. Director Jonah Burell from Burell Property Group said having 25 bidders at the auction was an overwhelming number. "Homes that are well presented and well marketed tend to do really well, it was move in ready, doesn’t require a whole lot of renovation," Mr Burell said. The auction came down to a family and a buyers agent who fought tooth and nail in $1000 increments.
The home is pretty much move in ready for the new buyers
Mr Burell said due to the shortage of stock, buyers are frustrated trying to find a good family home and are turning to buyers agents to help. "Buyers agents are giving buyers that edge to be able to secure a property, the market is booming in Brisbane and there is an expectation the interest rates are going down in the middle of the year," he said. "When you look at this campaign to have that many bidders, 115 groups through, when you’ve got that sorts of numbers. People want to get into the Brisbane property market now."
115 groups came through the home throughout the campaign.
Auctioneer Justin Nickerson from Apollo Auctions said the auction was packed with buyers, neighbours, friends and family and there is a huge appetite for the property market at the moment. "The auction today got started with a buyers agent, they came in strong and wanted to claim the property for their client. Once they did that 75 per cent of people put their paddles down," Mr Nickerson said. "Buyers agents are doing well at auctions. It gives buyers a really clear strategy before the emotions kick in. It removes themselves out of the emotional pressure cooker situation that auctions can be and get carried away."
Tarragindi home passed in at $2.65m
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36-38 Isabella Street, Tarragindi. Agent: James Curtain
A five-bedroom, three-bathroom home at 36-38 Isabella Street, Tarragindi was passed in the auction for $2.65m.
The auction attracted five registered bidders and with the opening bid of $2m.
Director at Place Woolloongabba James Curtain said the negotiations are still happening with the buyers and the best part of the property is its land size. “The negotiations are still happening behind the scenes and should be able to come to a conclusion soon,” Mr Curtain said. “The standout part for the property is its land size and frontage.”
The home has an excellent internal storage; wine cellar; built-in robes.
The 1310 sqm home offers abundant space and separation with a kid's lounge, parent's retreat and self-contained apartment.
The property is very close to the Toohey Forest entrance, for hiking and spotting koalas.
Mr Curtain said the market appears solid and Brisbane, SEQ are having an increased demand. “The market would appear very solid, demand is still very strong for all asset classes, don't see it changing, interest rates will drop at the end of year and demand will increase,” he said.
The home can have dual living and hosts a self-contained apartment that serves extended family, guests or renters with a fifth bedroom, bathroom, lounge, kitchenette, outdoor area and private entry.
“Brisbane and SEQ has an increased demand with a large demand for infrastructure. The Brisbane region is a very appealing place to live and upcoming employment opportunities all speak well. With the interstate migrations and overseas buyers, there is a constant inquiry from them in the Brisbane market.”
A house in Melbourne’s eastern suburbs that passed in at auction on Saturday ended up selling afterwards with a twist: A sign of Chinese good luck was involved in the final result.
