While many buyers are looking to move closer to the coast in south-east Queensland, one buyer from Buderim went against the trend, bidding on and buying a home in Coorparoo on Saturday.
The four-bedroom home, at 5 Esmonde Place, was snapped up for $1.05 million after two registered bidders fought it out for the keys.
McGrath Bulimba’s Ben Cannon said the property, four kilometres from Brisbane’s CBD, would be rented out, but the buyer’s future plans were to use it as a home for family.
“A lot of people are going the other way and buying in the coastal areas but they went against the trend,” Mr Cannon said.
As Brisbane’s spring market starts to warm up, the preliminary clearance is improving.
Brisbane’s preliminary clearance rate sat at 60 per cent on Saturday night, after 38 auctions were held and 25 results were reported. Only three auctions were withdrawn.
This was a jump from last weekend’s preliminary clearance rate of 38 per cent.
One of the biggest reported sales at the weekend was a four-bedroom home, dubbed Santa Monica, at 85 Boyd Terrace, Brookfield.
The two-storey home in Brisbane’s west, which features a grand entrance and a pool, sold for $1.22 million under the hammer.
Adcock Prestige’s Jason Adcock said two bidders battled it out. A young family from Springfield Lakes near Ipswich were the winning buyers.
Mr Adcock said property listings in the prestige market were down by half, keeping prices steady, but buyer interest was double, resulting in good offers being made before auction.
“The thing that I’m noticing at the moment is that there is real vigour from the buyers that want to wrap these properties up,” he said. “They go hard and register interest early and are putting reasonable and fair offers forward.”
Several buyers were interested in a three-bedroom home in Ashgrove, just five kilometres from the Brisbane CBD.
The home, with a touch of old English style, at 238 Acacia Drive sold under the hammer for $1.21 million after five registered bidders competed.
Harcourts Solutions’ Jack Dangerfield said the home’s proximity to Marist College and Mount Saint Michael’s College in Ashgrove made it popular for families.
“The buyers were a family with two boys at Marist College,” Mr Dangerfield said. “It’s worked really well because they can now walk to school.”
While the home sold well, Mr Dangerfield said there were still buyers trying to take advantage of the market conditions, which included the coronavirus pandemic, to try to get a bargain buy.
“They’re making low offers, but it’s not working out for them,” Mr Dangerfield said.
With stock levels very low, he said buyers were often competing with several people, he said.
Family homes were particularly popular with a three-bedroom Queenslander in Gordon Park in Brisbane’s north selling under the hammer for $1.16 million.
The property at 149 Thistle Street had several families interested in buying and five registered bidders fighting it out for the keys.
Belle Property Wilston’s Debora Sutton said it was a couple who had been living in an apartment, who bought the home for more space.
The vendors were selling to move back overseas to be close to their extended family, Ms Sutton said.
Spring in Brisbane had seen many buyers turning up to make an offer at auctions, but many were having no luck.
“There are plenty of buyers ready to buy but they just can’t find what they want,” Ms Sutton said.
Meanwhile, in East Brisbane, a four-bedroom Queenslander at 47 Fisher Street sold for $955,000 to first-home buyers who were one of seven registered bidders on Saturday.
Ray White Bulimba principal Scott Darwon said the local buyers were thrilled.
“We have also had strong interstate inquiry recently, but the locals are trying to beat them to it,” Mr Darwon said.
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