A modern masterpiece in the heart of Brisbane home quarter has achieved the nation’s second-highest sale at auction on Saturday.
A local family paid $5.45 million for the inner-city paradise – a figure that’s just more than $200,000 shy of the suburb record.
Perched high on Teneriffe Hill and occupying a 610-square-metre parcel, 16 Walker Avenue might look out of place next to the blue-chip street’s classic Queenslanders, but it didn’t stop a strong opening bid and major cash being splashed.
It also didn’t stop the four-bedroom masterpiece ranking as Teneriffe’s second-highest ever sale, with 34/1 Macquarie Street and 37 Macquarie Street, which both sold for $5.7 million, equally holding the crown.
Auctioneer and Ray White New Farm principal Haesley Cush said after bidding opened at $4.4 million most buyers were pushed to the side, leaving two to battle it.
“I was expecting bidding to open at around $4 million and from that point forward it was just two bidders in what was a well-paced auction of 12 to 13 minutes, which is a small amount of time when you think of the enormity of the money,” Mr Cush said.
16 Walker Avenue, Teneriffe: the second-highest sale in Australia at auction at the weekend.
He said the home had been rented out for the past year for $3000 a week thanks to its luxury features, including a designer lift, outdoor kitchenette and a saltwater pool.
The clearance rate on the weekend shot back to almost 80 per cent for the first time in weeks. Fifty-two homes sold under the hammer for a total $32,929,500.
Place Estate Agents Bulimba lead agent Shane Hicks sold 34 Henderson Street, Camp Hill, for $2.12 million after a local family looking to upgrade fought off interstate bidders.
“We had eight registered bidders on the day and a really big crowd of close to a hundred in the back yard. It was a part of Camp Hill that’s called the ‘St Thomas’s precinct’ after the school, so it’s the favourite,” Mr Hicks said.
A Sydney buyer kicked off the auction with a strong $1.8 million bid before the home was called on the market at $2.1 million.
“The winner was an East Brisbane family with two boys and they had been looking for some time but they had outgrown their cottage there and they wanted to get yard space and they loved it,” Mr Hicks said.
Although it was a happily ever after for the buyers, Mr Hicks said it was quietly devastating for another family, who had specifically auctioned off their home at 8am the same day with the hope they would swoop in and land their dream abode just a couple of hours later.
Mr Hicks also sold the nearby 63 City View Road for $1.907 million – a home he also sold for $1.4 million about a decade ago.
63 City View Road, Camp Hill QLD 4152
“It’s a very different market today compared to then. If we had three bidders back then we’d be so excited and we’d be saying ‘this is great we might sell this today’,” he said.
“Whereas now, if I had three bidders I’d be disappointed. Obviously, the market is hotter, but the Queensland real estate psyche has changed. It has grown up.”
In Red Hill, a fierce battle of the first-home buyers raged for 24 Pleasant Street, which eventually sold to a young couple for $1.18 million through Judi O’Dea, of Ray White Paddington.
The cottage, with a kidney shaped pool, two bedrooms and a sprawling back deck, was offered to the market for the first time in 18 years, attracting seven registered bidders.
24 Pleasant Street, Red Hill QLD 4059
Ms O’Dea said bidding for the turn-of-the-century cottage, with its “hilarious” pool, kicked off at $900,000 but quickly boiled down to just two buyers – the young couple from Ashgrove and a local single woman, who inspected it for the time mere minutes before the auction.
“I just think it was the charm of the cottage and the fact there is a swimming pool there and it was 506-square-metre parcel of land [that made it so appealing].
“The seller had owned it for over 18 years and for 12 of those years it has been an investment property. After the tenant left, they spent time, money and energy repairing it. It had original stain glass windows and the seller spent $7000 restoring them. I wasn’t sure she would get it back, but she didn’t want them to be wasted.
“In the end they got that money back in spades and that’s a big strong message to sellers and particularly to investors.”
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