The modern six-bedroom, three-bathroom house at 20 Hatherton Crescent, Carindale, in Brisbane’s east, sold at a well-attended auction. More than 100 people beat the Brisbane heat in the home’s spacious living area and watched five registered bidders battle it out for about 15 minutes.
Bidding opened at $1 million, and worked its way to $1.5 million. The price continued to rise, pausing briefly at $1.85 million and then finally settling at $1.98 million.
Selling agent Joanna Gianniotis, of Place Estate Agents Bulimba, said more than 100 groups saw the house during the four-week campaign, with the majority of interest coming from families looking for their forever home.
The buyers themselves fit that bill: they have children in primary school, and were looking for a house that would allow their family to grow comfortably.
“[The buyers] had been five times. All the family had been through,” Mrs Gianniotis said.
“They had fallen in love with the property from the first visit, and just kept coming back to confirm their feelings, and walked in each time feeling convinced that property was for them.
“The owners have lived at that property for 20 years, and then they were looking around to go into a new home but they couldn’t find any other position they liked better than there. So, they demolished their existing home and built this home.”
Mrs Gianniotis said the result spoke to the market’s desire for strong stock that didn’t look and feel like everything else on the market.
“Buyers appreciate quality and appreciate somebody building a property that’s outside of the normal square. Something different, unique,” she said.
“The owner every week put in such a huge effort in styling and creating a beautiful lifestyle aspect, which was noticed by buyers. So, it all added to the atmosphere.”
Elsewhere, the beautifully renovated Queenslander at 11 Nelson Street, Coorparoo, in Brisbane’s south-east sold under the hammer for $1.19 million. About 40 people watched as three registered bidders attempted to walk away with the keys to the four-bedroom, three-bathroom home on 407 square metres.
Bidding opened with a vendor bid, which was followed by a two more vendor bids as all the registered parties were waiting for the property to go on the market to start bidding. The auctioneer eventually got a bid that put the property on the market, the hammer was dropped, and the house was sold.
Selling agent Jonathan Harper-Hill, of Belle Property Coorparoo, said about 50 groups viewed the property throughout the four-week campaign, speaking to the quality of the house itself.
“[It’s a] well-presented character-renovated Queenslander,” he said. “It was quite secluded, really good sized yard, and in a good area of Coorparoo.”
Mr Harper-Hill said the house was also unusual because it appealed to a broad group of potential buyers.
“From young couples to young families to families with older children to downsizers; it was a very broad demographic,” he said.
The buyers were moving from an apartment in the city and wanted a house. Mr Harper-Hill said both parties were satisfied with the result.
On the other side of the city, a six-bedroom, two-bathroom family Queenslander on 810 square metres at 34 Gladstone Street, Indooroopilly, sold under the hammer for $1,392,500. Three registered bidders attempted to stake their claim on the property in an auction that lasted about 20 minutes.
Bidding opened at $1 million and began with some competition between the parties. At that point, the process stalled because the price was short of reserve, so negotiations began between the highest bidder and the vendors. After a few minutes, the house was put on the market and sold for the final price.
Selling agent Daniel Lee, of Plum Property, said the majority of the interest in the house, unsurprisingly, came from families.
“All three parties there were families,” he said. “Investors don’t typically go for properties of that value. You’re not going to get as good a rental return or yield on an expensive home. So, investors tend to look for your medium-priced home, which in that area is anything up to $900,000.”
The buyers themselves have a young family with two children, and were looking for a nice house to grow into. Meanwhile, the vendors had lived in the house for 35 years, and raised five children in that time. Mr Lee said both parties were happy with the result.
“They’re pretty stoked to be passing it onto a new young family,” he said. “There were tears from the wife of the seller. Tears of joy, but tears of sadness of a chapter ending. They actually met afterwards when signing the contract and were getting on like a house on fire.”