Fewer auctions but clearance rate rallies in Brisbane
TWO minutes of silence preceded a tenacious bidding war at 71 Borden St, Sherwood as part of a stimulating auction morning around Brisbane.
Despite only 38 properties going to auction in the final weekend before the Federal election, the morning clearance rate was more than 40 per cent.
Of the 18 properties on offer between 9am and 12pm, 8 sold under the hammer for between $608,000 and $1.7 million.
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Place Graceville agent Karen Simons, who grew up on Borden St at Sherwood, had five local registered bidders for the three-bedroom house at No. 71 on a 637sq m block.
With first-time bidders and a buyer’s agent among the mix, auctioneer Mark Frater broke into a two-minute pause on behalf of the vendor to start the bidding at $600,000.
Nine minutes and 29 bids later, the property was sold under the hammer for $748,000, more than $20,000 above the reserve price.
“I hated Ben in the beginning,” said the young builder whose every increase was countered by Ben Anderssen, the buyer’s agent working on behalf of a family of five from Corinda.
“You guys did the right thing,” Mr Anderssen said when the two parties caught up after the auction.
“You’ve just got to keep going straight over the top.”
In the end it was the Diss family of Corinda, represented by Mr Anderssen, who came in on top, after a 12-month search for the right block to build their dream home.
“Location, location, location, that’s what they say isn’t it,” Alexandre Diss said.
“We’ve looked at 50, maybe 80 properties.
“We went a little over budget but we had a contingency of three to five per cent on pricing, but we know it’s a good price.
“And for me, it doesn’t matter if it’s before or after an election, the land is the land and the price was right.”
All properties that went to auction yesterday had campaigns interrupted by school holidays, Easter, the Labour Day long weekend and an upcoming Federal election, all of which have had little impact on buyer enthusiasm, estate agents said.
Ray White Paddington’s Judi O’Dea had registered bidders from Dubai, Melbourne and Brisbane for the auction of 21 Grove St at Red Hill yesterday which sold under the hammer for $1.625 million.
“There’s been no let-up of interest but there’s not much on the market,” Ms O’Dea said.
She called on potential sellers to consider putting homes on the market before the end of the financial year to capitalise on the number of finance-approved active buyers.
Ms Simons agreed: “The owners (at 71 Borden St) were understandably concerned but when you have an area that’s sort after, it transcends the highs and lows of the market,” she said.
OTHER PROPERTIES THAT SOLD AT AUCTION YESTERDAY MORNING:
34 Crescent Rd, Hamilton — $1.7 million
7 Ayesha Place, Calamvale — $625,000
21 Grove St, Red Hill — $1.625 million
300 Upper Brookfield Rd, Upper Brookfield — $985,000
158 Arthur Tce, Red Hill — $815,000
35 Doorey St, Keperra — $608,000
169 Gladstone Rd, Highgate Hill — $700,000