Sprawling apartment in Brisbane’s bohemian suburb sells for millions

A sprawling apartment in a suburb traditionally known for its boho vibes rather than prestige penthouses claimed one of Brisbane’s top auction results of the week, fetching $3.25 million under the hammer following a six-minute bidding war.

The luxury three-bedroom unit, at 40/37 Duncan Street, West End, drew fierce interest from six local buyers, with one family outlasting the pack after bidding leapt from $1.5 million to $3 million in a couple of minutes.

Two punters then battled it out for the final $250,000, with the sale price landing above the undisclosed reserve.

The balcony offers panoramic views of Mount Coot-tha and the Brisbane River.Credit: Domain

Boasting panoramic views to Mount Coot-tha, a 292-square-metre floor plan, three bathrooms, a media room and a rare four-car garage, the 12-year-old apartment stands out in a suburb where high-end unit sales have traditionally taken a back seat.

Selling agent Luke O’Kelly, of Ray White, said the result highlighted a shift in buyer demand and reinforced the strength of the suburb’s apartment market despite wider economic uncertainty.

“If you went back even a handful of years, it was interstate or overseas buyers dominating here. It was also a lot of investors,” he said.

“But in the last couple of years, it’s been local owner-occupiers driving the sales. West End is coming into its own … and that’s being driven by the suburb’s more affordable price point.”

While West End’s median unit price climbed 13.9 per cent last year to $723,500, it still sits well below nearby blue-chip enclaves. Just next door in Highgate Hill – now Brisbane’s most expensive apartment market – medians soared 48.2 per cent to $1,022,500.

O’Kelly said West End’s relative affordability and growing appetite for prestige apartments would fuel further momentum.

“Over the course of the campaign we had 60 inspections … the vendors were absolutely stoked. They have been there for eight years and are now building a home,” he said.

Residents of the Flow complex have access to a heated lap pool, private cinema, gym, barbeque and garden meeting room.Credit: Domain

It was one of 104 auctions scheduled in Brisbane over the past week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 38 per cent from 73 reported results, while 13 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance.

In Graceville, an iconic Queenslander that was lovingly restored over 24 years sold for $2.5 million under the hammer, with a knockout $500,000 bid, placed just after the opening offer, immediately sidelining three of the six bidders.

More than 50 onlookers braved rain to watch the four-bedroom, century-old home, at 35 Randolph Street, change hands.

For the vendors, it marked more than just a financial milestone, with the husband retiring the day before the sale. The couple have since purchased an unrenovated Queenslander in Toowoomba.

Bidding opened at $1.8 million and went “hammer and tongs” among three bidders until $2.3 million before pausing at $2.45 million.

Selling agent Jiggs Long, of Ray White, said a Chelmer local secured the keys for a price that was bang on the reserve.

“Emotions were high … and the campaign drew a lot of interest. But the Chelmer gentleman was there to buy. He was upgrading and looking for a property that was another class,” Long said.

“And this was the dream Queenslander home. The floorplan was just bang on … it had dual living capacity and a beautiful flow.

“The owner was a builder – not by trade – and he had renovated it eight times over the past 24 years.

“They were quite a talkative couple but when the hammer fell they were speechless.”

Over in Camp Hill, the wet weather failed to deter more than 200 spectators who packed into a resort-inspired home at 10 Janette Street.

The bespoke five-bedroom property, set on a 637-square-metre block, was recently constructed by Slate Property and sold for $3.831 million, the highest sale of the week in Brisbane.

Featuring French oak floors, Venetian plaster walls, a magnesium pool and soaring three-metre ceilings with six-metre voids, the home drew just two bidders.

Bidding opened at $3.5 million and climbed in $50,000 rises to $3.8 million before pausing. Negotiations then nudged the home to its sale price.

For the winning family, it marked the end of a 12-month house hunt. For the underbidders, also a local family, the search continues.

Selling agent Denis Najzar, of Place, said the home’s wide frontage and exquisite design made it a standout.

“It presented exceptionally well and that’s what the buyers loved,” he said.

Place auctioneer Peter Burgin added the sheer scale of the home and the clever placement of the pool as a central feature were also drawcards.

He said the home sold just above its undisclosed reserve and added that buyer confidence remained strong despite broader uncertainty.

“We were expecting the election to have a bigger impact than it has, but the market hasn’t broken its stride at all,” Burgin said.

“People want good-quality real estate and they are prepared to pay for it. But Camp Hill is also one of the strongest markets in Brisbane.”

AMP chief economist Shane Oliver said Brisbane’s clearance rates remained somewhat soft and warned that the effects of Trump’s tariffs would soon be felt.

“The indications I’m getting are the tariff uncertainty and the headlines about billions being wiped off the share market amid the risk of recession are keeping some buyers sidelined and cautious,” he said.

“It’s hard to avoid the conclusion Trump is having an impact and the rollercoaster will continue. The silver lining in the cloud for Australians is another rate cut is probably on the way.”