Latest news with #BrisbaneRealEstate
Sydney Morning Herald
8 hours ago
- Business
- Sydney Morning Herald
‘Buyers aren't mucking around': Cottage sets price record at lightning-fast auction
'They bought this one in 2013 and paid just $450,000. But now, with interest rates coming down, we can expect to see more of this energy. Buyers aren't mucking around.' Smith said most of the bidders were first and second-home buyers, with the house getting 125 inquiries and more than 40,000 digital views throughout the campaign. He added that the home's entry-level sweet spot and proximity to Stones Corner and its popular cafes made it a buyer magnet. The home was one of 145 scheduled auctions across Brisbane over the past week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 42 per cent from 112 reported results, while 26 auctions were withdrawn. Over in Kenmore, a last-second bidding twist rewrote the end of an already-heated auction. The meticulously renovated home at 15 Rothesay Street sits on a 764-square-metre block and boasts dual living – attracting eight registered bidders, of which two were active. Bidding opened at $1.6 million with the two parties offering up $25,000 and then $5000 bids, until the auction paused at $1.9 million. It was then that selling agent Deron Wang, of Brisbane Real Estate, secured $1.92 million from the lead bidder on a 30-day settlement – which the vendors accepted. But just as the hammer was about to fall the underbidders swooped back in. 'They said: 'I'll give you $2 million if you give me a 120-day settlement',' Wang said. 'The owner immediately said yes, I mean, it was a no-brainer. Then the other bidder countered with a $1000 bid and the underbidder topped it again.' The home sold for $2,002,000. 'We didn't even see this kind of thing during COVID frenzy,' Wang said. 'The vendors were so stoked, they had agreed to $1.92 million and were ready to celebrate.' Wang said the winning buyer, an owner-occupier from Wishart, needed the longer settlement to sell their existing home. He added that most buyer interest for the home came from families in their 30s to 50s. In Kedron, a cheekily marketed home boasting 'dead quiet neighbours' due to its cemetery backdrop sold under the hammer for $2.2 million after a bidding duel between two buyers. The five-bedroom, three-bathroom residence at 5 Bloxsom Street sits on a 683-square-metre block and was newly built over the past eight months, featuring two levels, 5.6-metre ceilings, a pool and a luxe master suite. Selling agent Caleb Mayberry of Ray White said the vendor – a first-time developer – bought the block in 2014 and only last year decided to knock down the original home and build a bespoke family residence. 'I got to work closely with him on the design. He wanted to create something that ticked every box – and the feedback throughout the campaign was incredible,' Mayberry said. 'Buyers weren't put off at all by the cemetery. They instead viewed it as an opportunity to buy well as the location gave it that element of affordability. 'And it meant you had dead quiet neighbours.' Bidding kicked off at $1.5 million and moved quickly before the home sold bang on the reserve. Mayberry said the street was tightly held and popular with families due to its proximity to schools. AMP Capital chief economist Shane Oliver said Brisbane's property market was holding steady, with interest rate cuts adding fuel.
The Age
8 hours ago
- Business
- The Age
‘Buyers aren't mucking around': Cottage sets price record at lightning-fast auction
'They bought this one in 2013 and paid just $450,000. But now, with interest rates coming down, we can expect to see more of this energy. Buyers aren't mucking around.' Smith said most of the bidders were first and second-home buyers, with the house getting 125 inquiries and more than 40,000 digital views throughout the campaign. He added that the home's entry-level sweet spot and proximity to Stones Corner and its popular cafes made it a buyer magnet. The home was one of 145 scheduled auctions across Brisbane over the past week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 42 per cent from 112 reported results, while 26 auctions were withdrawn. Over in Kenmore, a last-second bidding twist rewrote the end of an already-heated auction. The meticulously renovated home at 15 Rothesay Street sits on a 764-square-metre block and boasts dual living – attracting eight registered bidders, of which two were active. Bidding opened at $1.6 million with the two parties offering up $25,000 and then $5000 bids, until the auction paused at $1.9 million. It was then that selling agent Deron Wang, of Brisbane Real Estate, secured $1.92 million from the lead bidder on a 30-day settlement – which the vendors accepted. But just as the hammer was about to fall the underbidders swooped back in. 'They said: 'I'll give you $2 million if you give me a 120-day settlement',' Wang said. 'The owner immediately said yes, I mean, it was a no-brainer. Then the other bidder countered with a $1000 bid and the underbidder topped it again.' The home sold for $2,002,000. 'We didn't even see this kind of thing during COVID frenzy,' Wang said. 'The vendors were so stoked, they had agreed to $1.92 million and were ready to celebrate.' Wang said the winning buyer, an owner-occupier from Wishart, needed the longer settlement to sell their existing home. He added that most buyer interest for the home came from families in their 30s to 50s. In Kedron, a cheekily marketed home boasting 'dead quiet neighbours' due to its cemetery backdrop sold under the hammer for $2.2 million after a bidding duel between two buyers. The five-bedroom, three-bathroom residence at 5 Bloxsom Street sits on a 683-square-metre block and was newly built over the past eight months, featuring two levels, 5.6-metre ceilings, a pool and a luxe master suite. Selling agent Caleb Mayberry of Ray White said the vendor – a first-time developer – bought the block in 2014 and only last year decided to knock down the original home and build a bespoke family residence. 'I got to work closely with him on the design. He wanted to create something that ticked every box – and the feedback throughout the campaign was incredible,' Mayberry said. 'Buyers weren't put off at all by the cemetery. They instead viewed it as an opportunity to buy well as the location gave it that element of affordability. 'And it meant you had dead quiet neighbours.' Bidding kicked off at $1.5 million and moved quickly before the home sold bang on the reserve. Mayberry said the street was tightly held and popular with families due to its proximity to schools. AMP Capital chief economist Shane Oliver said Brisbane's property market was holding steady, with interest rate cuts adding fuel.
News.com.au
8 hours ago
- Business
- News.com.au
Mastermind of Aus 2032 Olympics lands massive payday in host city
The woman who landed Australia it's next Olympics, former state premier Annastacia Palaszczuk, has secured a massive payday in the River City. Ms Palaszczuk who resigned as Queensland premier in December 2023 sold her clifftop Seventeen Mile Rocks home in the future host city less than a month after it hit the market – securing a 684 per cent hike in value in two decades. Inside slumlord's crumbling empire: derelict, unliveable, worth millions She'd bought the property for $260,000 in 2005 building a house there in 2006 which has now sold for $1.78m – which was $10,000 above the highest valuation estimate. Homes there can fetch in the region of $826 to $1100 a week, according to property records. The median house price of Seventeen Mile Rocks is $1.075m after 69.3 per cent in the past five years alone. The ex-premier now has one property remaining publicly listed in her name in Queensland, a one-bedroom unit in Main Beach on the Gold Coast bought in June 2019 for $705,000. Ms Palaszczuk took over the seat of Inala from her father Heinrich Palaszczuk after he retired in 2006. He was a minister in Queensland's Beattie government, Saeed Moghaddam of Brisbane Real Estate Chapel Hill sold the Seventeen Mile Rocks property as an 'insider's secret'. 'You'll spot the lorikeets before you hear them, they love the tropical gardens out front,' his listing said. 'And if you're up early enough, you might even catch the mist rising over the ridge as you walk the trail to Riverside Park.'
