A four-day snap lockdown couldn’t contain Brisbane’s buoyant auction scene at the weekend, with one luxury Clayfield home achieving a record suburb sale price, while one of Fortitude Valley’s ugliest cottages fetched a reserve-smashing result before auction.
Despite the sudden containment of the Queensland capital forcing dozens of real estate agents to move their weekend auctions online, the sheer resilience of the city’s market shone through with 32 homes sold under the virtual hammer on Saturday, when 88 auctions had been scheduled. Dozens more houses were sold before auction in the days and hours leading up, amid reports online inspections and viewings soared.
That feat of market strength — combined with some quick thinking — saved Ray White New Farm and Bulimba’s special prestige auction due to be held at The Calile Hotel on Friday night, with the 11 listed properties quickly moved to online auctions and eight sold either before auction or under the hammer. Those sold included the striking 50 Wellington Street, Clayfield, which collected $2.93 million before auction.
Selling agent Christine Rudolph, of Ray White New Farm, said the architectural masterpiece accrued three offers prior with a local interior designer plating up the top bid to secure the exquisite five-bedroom home on a 574-square-metre block.
“It was the top sale of the event, but it was also a suburb record for Clayfield with that size of block,” Ms Rudolph said.
“I think right from the first viewing of that open we were quite overwhelmed by the amount of interest we had on the property. It was just one of those emotionally engaging properties, but it was also the attention to detail and faultless execution of an old Queenslander worker’s cottage.”
50 Wellington Street, Clayfield QLD 4011
While the home was a meticulous masterpiece that inspired more than 100 groups to inspect it, Ms Rudolph said it was the appetite for real estate in general that was driving the market to new heights – lockdowns only strengthened that hunger.
“I’m continually amazed by the enthusiasm people have for beautiful properties. And, as a fact (during each snap lockdown) people have the opportunity to really focus on property and they have more time to look on the internet. In fact, people make big decisions about their living situation during these moments,” Ms Rudolph said.
“What’s absolutely wonderful is the last lockdown we had in April we also, ironically, had auctions planned for that evening and we also only had eight hours to put them online … and what goes on behind the scenes is a lot of swift action with phone calls and emails and the most important thing is communication with clients and buyers.
“And, we are still able to create the urgency and competitiveness.”
Just a stone’s throw from the city centre, at 43 Arthur Street, Fortitude Valley, the lockdown didn’t deter a local couple from splashing $1.535 million on the street’s ugliest house after selling agent Emmanuel Calder, of Mane Property, managed to seal the deal just hours before the Saturday auction.
“The owners were in Coffs Harbour so they couldn’t get here and we had four buyers that were really hot on it and they were prepared to go to auction but had to find the best solution for the owners and that was to sell prior. The result far exceeded their expectations,” Mr Calder said.
“It’s the ugliest house on the street that one, you can’t sugar coat it, but it’s a great location. And, the sale price, well, it blew us away.
“We ended up with six offers prior and it sold for well over the reserve. It was a bit of a hectic week and no one knew what would happen but as for what came out of it — we’re stoked. It’s a bit of emotional time for anyone who has owned a home for 25 years and raised their kids there.”
43 Arthur Street, Fortitude Valley QLD 4006
In Seven Hills, James Curtain, of Place Estate Agents Woolloongabba, secured the city’s highest auction sale under the hammer on Saturday with the perfectly positioned 34 Majestic Outlook, Seven Hills – which achieved $2.155 million from a local buyer.
“We made the decision on Thursday to livestream the auction through Gavl and when it (the lockdown extension) was confirmed we went into overdrive,” Mr Curtain said.
“We had six in total bidding. Funnily enough all our buyers were locals and professional couples, and we sold it for considerably over reserve. The owners had been there for over 10 years they were delighted with the result.”
34 Majestic Outlook, Seven Hills QLD 4170
Mr Curtain said while the snap lockdowns had taught the real estate industry to adapt and think on their feet, what hadn’t changed was the market’s incredibly strong position.
“For the new financial year, I don’t see the market changing too much from the first six months because the supply of homes is relatively low and we are still seeing a lot of interstate buyers and expats returning from Asia and the UK — and that bubble of interest from Australia and the globe plus locals will keep our market quite active going forward.”
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