QUEENSLAND’S auction market has kicked into gear, with buyers snapping up properties across all price ranges and locations.
One of the standout performers of the day was 40 Thomas St, Auchenflower, where a home sold under the hammer for $2.4 million.
Place Paddington sales agent Tim Douglas said the home was a rare find in Brisbane’s inner city.
“The property was on 1052sq m and even had a tennis court,” he said.
“The home itself was of a high quality but for such a great location there was definitely potential for renovation for the new buyers.
“Three registered bidders battled it out for the entire time and the sellers were ecstatic to see such strong interest and such a great result.”
Ray White auctioneer Haesly Cush said buyers in New Farm, always a popular spot for auctions, were becoming even more competitive.
“I had about six auctions scheduled for Saturday and four of them sold prior because of high demand,” he said. “The two auctions that did sell on the day were both picked up by buyers who had been underbidders for other listings in the suburb over the last couple of weeks.”
A unit at 2/32 Oxlade Drive sold for $660,000 at an auction held across the road in New Farm Park.
Not long after, a home at 130 Merthyr Rd, New Farm, sold under the hammer for $1.378 million, with bidding going down to the wire between two buyers determined to find a home in the suburb.
In Ormiston, a home at 17 Cleveland Tce attracted two registered bidders but sold for $1.4 million under the hammer.
On the Gold Coast, buyers also made the most of the good weather by packing out auctions across the region.
Apollo Auctions director Justin Nickerson said a home at 51 Tooloona St, Tugun, attracted as many as 11 registered bidders before selling for $565,000.
“Crowds at auctions are on the rise, particularly for affordable renovators,” he said.
Original article published at www.news.com.au by Kieran Rooney, The Courier Mail 15/9/2014