A family of four from Rochedale ended a two-year house hunt after outbidding three others to pay $1.47 million for a four-bedroom home in Daisy Hill.
asserted
family → end → Hill
Despite only registering the night before, the couple opened bidding for 6 Nanny Shailer Street at $1.2 million, sparking a flurry of rises.
“Interestingly, the buyers will rent it out for the time being but they plan to live there because it’s close to John Paul College and that’s where they want to send their kids,” said selling agent Johnson Teo, of Ray White Shailer Park.
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Teo → register → Park
“But I really thought the underbidders would get it.
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underbidders → think → it
This was a longer auction campaign than usual – it was about seven weeks or so – and the buyers came through the first week and made an early offer of $1.4 million.
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buyers → come → million
“I knew they wanted to buy in this pocket, but they were thinking about not even attending the auction in the end.
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they → know → end
For the vendors, who built the home 15 years ago and had decided to downsize and make a seachange, the auction process was nerve-racking.
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process → build → seachange
“Initially they didn’t want to auction at all … but with private sales you’re not sure what you’re bidding against.
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you → want → what
Whereas auctions give a transparent platform and you know the seller is committed.
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seller → give → platform
“And in the end the vendors got more than they wanted.”
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they → get → more
Teo said Brisbane’s market had continued to slow, with prices falling by up to 15 per cent.
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prices → say → cent
“Stock levels are increasing but we’re seeing less buyers and with rate rises coming I think we really need good news to push the market, so it’s going to be tough,” he said.
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he → increase → market
“I think if prices drop further in this area then we’ll start to see a few distressed listings coming in, just like we did during the GFC.”
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we → think → GFC
The home was one of 133 scheduled auctions across South East Queensland over the past week.
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home → schedule → week
By Saturday evening, Domain recorded a preliminary clearance rate of 36 per cent from 97 reported results, with 10 homes withdrawn.
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homes → record → results
Meanwhile, a single dad outmuscled a father and daughter to nab a three-bedroom house in Rochedale South for just below the reserve on Saturday, paying $1.2 million under the hammer.
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dad → outmuscle → hammer
After missing out on a home in a nearby street a week earlier, the determined dad tried to “knock out the competition” with a second bid that catapulted the $850,000 opener straight to $1.1 million.
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that → miss → million
The tactic worked – to a point – leaving the two fathers locked in a duel until $1.18 million, when the auction paused.
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auction → work → million
With the reserve set at $1.25 million, selling agent Charlie He, of Ray White Springwood and Shailer Park, approached the vendors, who agreed to put the home – at 14 Monica Street – on the market.
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who → set → market
Moments later it sold.
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it → sell → ?
“He [the single dad] had been renting in the same suburb and just loved the lifestyle,” said He.
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He → rent → lifestyle
“We had pre-auction offers on this one and the first was $980,000 and I just thought ‘stuff that’.
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I → have → one
“So while we did initially have the reserve set a bit higher, the sellers were happy.
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sellers → have → ?
He gave me a big hug after it and he was extra happy because the Brisbane Lions had just won.
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Lions → give → it
“He’d been there for 11 years and even if the property’s price had dropped 10 per cent [over the past few months], at the end of the day he was buying and selling in the same market.
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he → drop → market
He said the market was tough, with campaigns now requiring hard conversations on both sides and open homes needing a few extras – from lit candles to soothing music.
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market → say → music
“Honestly, this whole process taught me that you have to talk to your owners.
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you → teach → owners
We sold a home in nearby Wendy Court sold for $1.5 million and the sellers of Monica Street asked me if they could get the same price for theirs but I had to say ‘mate, that’s a five-bedder’.
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that → sell → theirs
“You just have to focus on what the buyers are saying right now,” he said.
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he → have → what
“I do think the market was probably worse a few months ago, but buyers are just a little bit more difficult now because they think the market is crap, but vendors think it’s way better than it is.”
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it → think → ?
In Holland Park, a four-bedroom home constructed by an award-winning builder sold to a local family for $1.42 million after just three bids.
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home → construct → bids
Two registered bidders vied for 354 Nursery Road, which sits on a 405-square-metre block and features 2.7-metre ceilings and a heated pool.
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which → vie → ceilings
Selling agent Andrey Makhanyok, of Place Camp Hill, said the home mostly drew families, including locals and a few buyers hoping the softened market would allow them to move closer to the city.
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them → sell → city
“But the two registered bidders ended up being an investor from the Gold Coast and the local family who were looking to upgrade,” he said.
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he → register → Coast
Makhanyok added that the home was initially listed as a private treaty through a separate agency, but had languished in the listings for weeks.
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home → add → weeks
“In a marketplace like the one we’re in, where there’s no urgency, auctions can create a bit of urgency,” he said.
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he → ’re → urgency
PRD chief economist Dr Diaswati Mardiasmo said Brisbane’s latest clearance rate marked an improvement on recent weeks.
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rate → say → weeks
“Given we’ve had weeks of clearance rates as low as 18 per cent, 36 per cent is a massive increase,” she said.
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she → give → cent
“This weekend’s improvement could also almost be a reflection of buyers getting in before [Tuesday’s predicted interest rate] hike.”
uncertain
buyers → get → hike
The Aporia
