Hungry interstate buyers have splashed serious cash at one of Brisbane’s hottest luxury auctions at the weekend, and was among the almost $30 million in prestige property sold from just seven high-end listings alone.
After the state borders opened a week ago, real estate agents reported a flood of southern home hunters, inspiring the string of multimillion-dollar sales that ranged from vacant land to acreage hideaways.
While an unoccupied slice of riverfront in New Farm scored the highest result of the day – after being snapped up by a local developer for $9.91 million – it was a Melbourne couple who cemented one of the top residential transactions at Ray White’s inaugural prestige auction event at the Calile Hotel.
Prospective buyers at Ray White’s boardroom auction in the Calile Hotel in Fortitude Valley. Photo: Tammy Law
The couple splashed $2.8 million on a sprawling Yeronga home at 39 Ormuz Road, smashing the suburb’s non-riverfront price record, despite seeing the home for the first time on Thursday.
Tessa McGuigan and Mike Tarant – who left the Victorian capital just a couple of days after the borders re-opened – said they not only saw the striking five-bedroom, five-bathroom abode for the first time just two days shy of the auction, but also the entire suburb.
“It was just meant to be, it was like poetry. When we saw it for the first time online I thought it was just lovely, but in person it was even better,” Ms McGuigan said.
“We were in lockdown in Melbourne for two months in a hotel (from March) because we sold our house and we couldn’t leave.
“Our plan when we sold was to move on quite quickly, but then the borders closed.
“I started hunting and hunting and I’d looked at another house in Yeronga and that’s when this one came up. This home just suited us perfectly. I grew up in New Zealand and the house has this beautiful south Island stone at the front and the back. It’s stone that I know from my childhood.”
Open-plan living looking out to the pool and gym at 39 Ormuz Road, Yeronga. Photo: Ray White New Farm
Although they had planned to downsize after selling their Melbourne townhouse, Mrs McGuigan said they simply fell in love with the sheer quality and luxury finishes of Ormuz Road, which features a wine cellar, a media room and a gymnasium.
Of their migration north, she said it was a plan they’d had in the works for a while, fuelled by cold Melbourne winters, an inability to travel due to the pandemic and the quest for an idyllic lifestyle.
“We’ll stay here now – everything we want is here,” Mrs McGuigan said.
Selling agent Christine Rudolph, of Ray White New Farm, described the Saturday event as a “rock-star” auction, fuelled by the soaring interstate migration and locals keen to snap up a home before Christmas.
“The beautiful thing about the property I sold at Ormuz Road is that it’s proof interstate buyers are 100 per cent coming to Queensland,” Ms Rudolph said.
“It has been a flood since December 1 and at the moment we are seeing a critical shortage of stock and I think the borders opening has come at a time when traditionally real estate tends to slow, so what we are finding is that buyers are saying to us ‘we are definitely cashed up and ready to buy’.
“Just in the last months I would personally say I have seen a 50 per cent increase in interstate and overseas buyers since this time last year.”
Ray White New Farm principal Matt Lancashire said he hadn’t seen a prestige market this hot in a decade.
“There is a huge influx of buyers from Sydney and Melbourne, and they have all been eagerly awaiting for the borders to open,” Mr Lancashire said.
“Our team has run 35 auctions in December alone, which is testament to the value proposition of prestige property in Brisbane. We don’t see any sign of slowing down throughout the early months of 2021 either.”
Across the prestige auction event, the second-highest sale clocked was for a striking freehold riverfront home at 85 Macquarie Street, Teneriffe, which fetched $4.28 million.
Glittering views from 85 Macquarie Street, Teneriffe; a rare riverfront terrace. Photo: Ray White New Farm
A smattering of luxury homes outside the Ray White event were also sold under the hammer on Saturday, with Shane Hicks, of Place Bulimba, selling 11 Hartley Street, Camp Hill, for $1.291 million in what he said was a fiercely contested auction with 10 registered bidders.
“It sold for $41,000 over reserve, and we had interest in this property right from the start,” Mr Hicks said.
“The buyer that bought it will knock it down and redevelop it into one big luxury home.
Place Estate Agents experienced a 100 per cent clearance rate for their Camp Hill properties, and 11 Hartley Street was among them. Photo: Place Estate Agents – Bulimba
“Across our office we also had 100 per cent clearance rate this weekend – it’s been running at 90 odd per cent for us for about the last four to five weeks.
“The auction mark is strong and Camp Hill is the highest-volume auction suburb in Brisbane – they love an auction here and for me personally the last 10 out of 10 have gone under the hammer.
“We’re also getting a lot of interstate traffic – a lot.
“As an office we’ve got a super auction on December 19 and 20. We don’t normally have it but the demand is there.”
Article Source: domain.com.au
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