Hot auction: Brisbane home sizzles with $5.2m sale

Brisbane has delivered one of the top auction results in the country this weekend, after a Hamilton home sold for $5.2m.

Brisbane has delivered one of the top auction results in the country this weekend, after a Hamilton home sold for $5.2m.

The property at 76 Crescent Road - which was brought to market by Tom Lyne of Ray White New Farm with his principal Matt Lancashire - had "strong interest with 120 groups through the home prior to auction". 

"We had interest from local, interstate and even international buyers, with interest coming from a buyer in Portugal," Mr Lyne said.

The turnkey property with stunning views attracted five registered bidders, two of whom were active during the auction.

When the sellers bought the property, it came with development approval, which they subsequently implemented in 2019.

Large increments kicked off bidding which opened at $3.5m, rising to $4.25m and $4.75m where it held for discussion. An offer of $5.2m was then made, which is when the property was declared on the market and eventually sold. 

The owners had bought the 556sq m property for $1.6m in 2015, with development approval attached to increase the size of the home. They rebuilt the home in 2019, according to property records, and were now looking to downsize. The new owners are a local family looking to upsize.  

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It was one of 20 properties that went under the hammer at The Calile Hotel in New Farm today, with 64 auctions set across Brisbane with the final ones concluding around 5pm.

We have been running a live Gavl feed throughout the day below as well as a live blog (scroll down to read) that has updated individual property results which have come in across Greater Brisbane.

SCROLL DOWN FOR LIVE BLOG OF AUCTION RESULTS 

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Originally published as Hot auction: Brisbane home sizzles with $5.2m sale