The bumper auction at 2 Woodhaven Court attracted more than 160 people with 22 registered bidders.
After 75 minutes and 200-plus bids, the lowset three-bedroom home sold for an astonishing $1.5605 million.
Allen and Lee marketing agent Estelle Lin believed it was one of the biggest auctions Brisbane would see for some time.
“It was absolutely incredible – we had interest from interstate buyers in Sydney, Melbourne and Adelaide, and international buyers from Hong Kong, Taiwan and Korea,” Ms Lin said.
“A local Chinese family bought the home after inspecting for their first time on the day of the auction.”
The 762sq m property was owned by 86-year-old Maria Sarri who paid just $105,000 in 1987.
Home owner Maria Sarri with her grandsons Dino and Sandro Pietrobon. Picture: Peter Wallis
“It’s not nice when you make an 86-year-old cry, but sometimes it can be – she was so happy with the result,” Ms Lin said.
A few hours later a five-bedroom home just around the corner at 382 McCullough St sold under the hammer for $1.2 million.
Ms Lin said there was an “overflow” of buyers from the previous auction.
The five-bedroom home at 382 McCullough St, Sunnybank, sold for $1.2 million at auction.
“One buyer took a paddle from one auction to the other one,” she said.
“We ran out of pens too, it was just a crazy day.”
The 673sq m property sold to a local couple as an investment.
Allen and Lee director Mark Allen said the results showed the strength in the local market.
“It’s the old story of supply versus demand – there’s such an incredibly huge demand for these homes but a diminishing supply,” he said.
The property at 2 Woodhaven Court, Sunnybank, has a very desirable location for buyers.
“Chinese buyers generally hold homes for decades and generations so it’s just a constant battle of supply versus demand.”
About two weeks ago a Robertson home, which backs onto Sunnybank Plaza, sold for $1.2015 million at auction – smashing its reserve by $421,500.
There were 28 registered bidders at that auction, including interstate buyers.
Mr Allen said location was a priority for buyers, particularly with the $40 million redevelopment of Market Square.
The plan will transform the eating and shopping hub from one to four storeys and provide hundreds of extra carparks.