Upsizing locals snap up Tarragindi home for $2.45m at charity auction

It was a bold move that could have seen a luxury home snapped up for the price of a box of mangoes.

Instead, a glamorous Tarragindi property with no reserve, no safety net – and no shortage of bidders – sold for $2.45 million at auction on Saturday, with every dollar going to charity.

Dubbed a once-in-a-lifetime sale, the new home drew 16 registered bidders, with a local family snapping it up minutes after first walking through the door.

The four-bedroom home, at 43 Amulree Street, is perched on a 607-square-metre block.Credit: Domain

Selling agent Solomon Michael, of Coronis, said the atmosphere was electric as eight active bidders sent the price soaring.

“I’m just over the moon. When the hammer went down, the whole crowd erupted. It worked exactly as anticipated,” he said.

“Incredibly, the family who won it only saw the home for the first time 30 minutes beforehand. They’re upsizing and were just as over the moon to get it.”

The four-bedroom home, at 43 Amulree Street, is perched on a 607-square-metre block and was built by Plantation Homes. It comes with a pool, fireplace, landscaped gardens and every piece of furniture – even the TV.

Bidding opened at $1.2 million and climbed in $100,000 jumps before two final bidders went toe-to-toe in $25,000 increments, with the hammer falling less than four minutes later.

The sale marked a deeply personal milestone for Coronis Group founder Andrew Coronis, whose family has supported the Mater Foundation since losing their son Peter in 2001.

The home comes complete with a pool, fireplace, landscaped gardens and every piece of furniture.Credit: Domain

“Words cannot describe the pain we went through, and still do today,” Coronis said. “But the wonderful people at the Mater made a very traumatic time of sadness just that little bit better.”

Since then, the group has helped raise more than $145,000 for the cause – with the Saturday auction blowing that total out of the water.

It was one of 166 auctions scheduled in Brisbane over the past week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 32 per cent from 111 reported results, while 13 auctions were withdrawn.

In Yeronga, a Melbourne investor set a street record after splashing $3.375 million on a stunning five-bedroom new build.

The home at 28 Anita Street features a pool, water views and a statement circular bath, and drew three active bidders who fought it out for almost an hour. Selling agent Dion Tolley, of Place, said the sale could have reached an even higher figure.

“Funnily enough, we had a higher offer prior to auction but it was subject to a longer settlement … so the vendors chose to take the slightly lower offer with a shorter settlement,” Tolley said.

Bidding started at $2.9 million and rose quickly to $3.3 million before stalling, with negotiations dragging on for a further 30 to 40 minutes before the final $3.375 million deal was sealed.

“Yeronga has got an incredibly low turnover … but what drew the investor is they see Brisbane as a growth city. It’s not the first property they’ve bought here and they will be renting it out.”

Tolley said investor interest had ramped up in recent months.

“I’m experiencing it directly – I’ve had two properties sell in the past three months over $3 million to investors. The underbidder [on Anita Street] was a local from West End, but they needed a longer settlement because they were also selling.”

Tolley said the home, built by One Property, attracted strong interest thanks to its meticulous finishes and a floorplan that appealed to multi-generational buyers.

Over in Clayfield, a rare architecturally designed postwar cottage sold for $1.4 million after a fast and furious bidding war between two buyers.

Set on a 450-square-metre block, the three-bedroom home at 25 Phelan Street features a large deck and brick fireplace – all on a single level in a suburb where the median house price now sits at $2 million and the house record nudges $9 million.

Selling agent Tony Mower, of Havic & Jackson, said similar homes had become increasingly scarce in the blue-chip suburb.

Bidding opened at $1 million and was over in under eight minutes.

“The owners have had that house for 15 years so it was very emotional for them,” Mower said.

He said listing levels across Clayfield remained low, with a shortage of quality stock continuing to drive strong off-market activity.

Ray White chief economist Nerida Conisbee said the weekend marked the end of the typically strong first-quarter selling season, with market activity expected to slow until the end of April.

“We now have two long weekends and then the federal election after that. This is a pretty quiet time … but overall for March it was a strong one,” she said.

“We saw strong inspection numbers and we are still seeing price growth in Brisbane. Median house prices have well and truly pushed beyond $1 million, and it will stay there.”

She said Ray White data showed Brisbane was still averaging 3.2 active bidders per auction, compared with 2.6 in Sydney and 2.5 in Melbourne.