It took just three minutes for a luxury sub-penthouse to sell under the hammer on an otherwise lacklustre day of auctions across Brisbane on Saturday.
The four-bedroom home in Cleveland, south-east of Brisbane, sold in record time with the auction finishing before it had barely even started.
Three registered bidders, all women local to the area, placed a single bid each with little negotiation.
This luxury sub-penthouse in Cleveland sold for $1.2 million.
After an opening bid of $1,150,000, the second bidder brought the price up to $1,190,000 before the third won the sale at $1,200,000.
Agent Gordon Whicher from Raine & Horne Cleveland said he purposefully kept the auction “low key” to avoid frightening potential buyers.
The “Aston Martin of condominiums” with harbour views attracted considerable attention prior to auction, with four formalised offers rejected by the vendor in the 14 days before it went under the hammer.
“The owners had renovated it in the past and spent a quarter of a million dollars on renovations,” Mr Whicher said.
“For the person who purchased it, it was a matter of just moving clothes in and enjoying the place.”
The successful bidder was an older woman, who was looking to rent out the property for 12 months before moving in.
It was one of just 18 properties to sell across Brisbane of 72 listed auctions.
But it didn’t stop fierce competition for some homes and bold moves from keen buyers.
A sturdy brick family home on a generous plot in Sunnybank sold for $925,000, well over the buyer’s reserve, after attracting plenty of interest for its location as a development hot-spot.
This house in Sunnybank attracted families as well as developers and investors. Photo: Supplied
Of the 11 registered bidders, a handful were families looking to renovate, but the majority were developers or investors keen on land banking in the area.
In an unusual twist, the auction saw one bidder take part over the phone from Sydney, having never seen the property.
Agent Estelle Lin of Place Sunnybank said it was rare to see, but phone bidding was a rising trend.
“We recently have got more interstate investors,” she said. “They haven’t seen the properties but they’re interested in buying land in Sunnybank.”
The auction went on for half an hour, with the fierce bidding battle over in about 20 minutes.
The final bid went to a Chinese-Australian family who bought the property as a land bank investment for later development, potentially after some renovations.
Ms Lin said the owner, who had lived in the property for 33 years, was thrilled with the result.
“It’s a very happy ending. She was really happy and she’s fine with [the home being] land banked,” she said.
Meanwhile, a split level post-war home had its first foray on to the market in 56 years.
The Tarragindi house was full of charm and old-world details, according to agent Mel Christie of Ray White Coorparoo.
This home sold on the weekend after being owned by one family for almost 60 years. Photo: Supplied
“It’s a very quaint,
unique home with no updates in 56 years, so it has a really great feel to the property,” she said.
“It’s been in the same family for those 56 years and it’s in a great location.”
The auction attracted four registered bidders, although one was not able to finalise his bid due to issues with finance approval.
The other three bidding were a mix; one was a land buyer, another an investor and a third a first-home buyer.
Although the auction was fairly small, negotiations took quite some time as the home was co-owned by five siblings, some of whom were all over the country.
Ms Christie said it was not an uncommon sight to see an auction take place across borders.
“There were people in different cities and some at the property, so lots of information had to be relayed,” she said.
“It took some time, basically because we had people all across the country to consult with, but it was not too tense.”
The home was sold to a single lady who had been looking to move into the area to be closer to her daughter and grandchildren.