Brisbane’s hottest home up for auction smashes suburb expectations
It’s the state’s most-viewed property up for sale this weekend, and its auction had a result that blows other homes in the suburb out of the water.
The most-viewed home going up for auction this week has sold for well over suburb expectations, in an auction that saw nine eager bidders registering to claim it.
PropTrack’s latest property preview report placed the house at 6 Robe St, Newmarket, as the most-viewed Queensland property up for auction this weekend.
The five-bedroom, three-bathroom home is a new build the owners constructed to replace the previous post-war home at the property.
Designed by OH Architecture, the house was built by its owner, who put it up for sale shortly after it was completed.
The median property price for Newmarket is $1.965 million. With a starting bid of $2.3 million, the auction quickly priced interested parties out of the competition.
Three active bidders went head-to-head to get the home, with rising bids of $100,000 a time.
Increases slowed to offers of $50,000, then $25,000. By the time the auction had paused for negotiation, it was more than $1 million above its starting bid, and sold for $3.425 million to the highest bidder.
Ray White Wilston agent Alistair Macmillan said the owners were “very happy with the outcome,” with a result that was incredibly high for this type of home in Newmarket.
“We’re seeing very strong interest for properties that are fully renovated or brand new,” he said. “Buyers are preferring to buy a good quality finished product than undergo an extensive renovation.”
The new owners are a couple with two children, who had missed out on four previous properties during their job search.
Agent Brooke Copping said the family was looking to upsize, which led them to finding the home.
“They really appreciated the unique architectural design of the home over a stock standard project home build,” she said.
PropTrack’s report showed a 12 per cent decline in Queensland auctions compared to this week last year, with 383 scheduled auctions across the state.
Brisbane city’s rates declined by 48 per cent at 121 auctions – but regional Queensland saw a 30 per cent improvement, with 262 scheduled auction events.
A nine per cent decline in year-on-year auctions is predicted for next week, but Brisbane’s 140 scheduled auctions would mean the city can expect a 37 per cent increase.
Originally published as Brisbane’s hottest home up for auction smashes suburb expectations