Auction round-up: Bidders push Queenslander to $2m and Perth family sells up after 30 years

A beautifully renovated Queenslander in Brisbane’s north attracted the interest of four bidders on Saturday, who pushed the sale price close to $2 million.

The five-bedroom, three-bathroom home at 93 Broughton Road, Kedron sold under the hammer for $1.955 million.

The breezy, light-filled home was one of 2,820 auctions held in capital cities across the country over the past week, the highest weekly volume of auctions held since the week ending December 1 last year, according to CoreLogic.

“Alongside the lift in auction volume, the trend in clearance rates has also continued to rise, with the preliminary success rate coming in at 72.1 per cent this week, up from 71.2 per cent a week ago, which revised down to 63.8 per cent on final numbers,” said CoreLogic research director, Tim Lawless.

He said it was the highest preliminary clearance rate since the last week of July 2024 when it came in at 72.2 per cent.

While five people registered to bid on the stylishly renovated Kedron home, just four took part on the day.

Lead agent Brooke Copping from Ray White Wilston said the home was particularly popular with families.

“Buyers were attracted to the character of the home and the attention to detail that had gone into the renovation, which was done in 2019. It has a beautiful, homely feel,” she said.

“It was sold to a family who have children at the local school and wanted to buy in the area,” Ms Copping said.

Meanwhile, the sellers had listed the property after deciding they wanted something smaller.

“The sellers raised four kids in the home and now they’ve all grown up it’s time to downsize,” she said.

Brisbane recorded the lowest preliminary clearance rate of all the capital cities, at 53.1 per cent. This compares to a preliminary clearance rate of 57.8 per cent last week, which revised down to 56.4 per cent, and 70.8 per cent at the same time last year.

A total of 138 homes were taken to auction across the city in the past week.

Sandstone cottage proves crowd-puller

In Adelaide, a beautifully restored 1880 sandstone fronted cottage sold at auction for $1.930 million on Saturday.

The thoughtfully reimagined cottage at 118 Robsart Street, Parkside attracted more than 100 groups throughout the sales campaign.

“It was very popular,” said Georgie Todd from Harris Real Estate Kent Town.

“We had a lot of groups through. The character front and the fact it is fully renovated were the main appealing features for buyers,” she said.

Three bidders took part in Saturday’s auction, which opened with a bid of $1.8 million, with the final bid of $1.930 million placed by a local couple.

“We are finding that people prefer to buy something that has already been renovated. They don’t want to have to do anything to it,” Ms Todd said.

The three-bedroom, two-bathroom home was one of 151 homes taken to auction in Adelaide in the past week, with a 71.6 per cent preliminary clearance rate reported.

This compares to 61.7 per cent last week, which revised down to 55 per cent on final numbers, and 82.6 per cent at the same time last year.

Farmers pay $2.2 m for city base

In Mosman Park, in Perth’s inner southwest, a large, renovated family home has sold at auction for $2.2 million.

Built in 1967, the five-bedroom, two-bathroom home at 4 Beagle Street, which has recently undergone a significant renovation, attracted two bidders and several offers ahead of the auction.

Lead agent Noel Rogers from Ray White Cottesloe/Mosman Park said the decision to take the property to auction, which is less common in Perth, proved worthwhile.

“The property sold for about 5 per cent above the highest offer prior to auction which proves that the auction method delivers above market results,” Mr Rogers said.

He said the successful bidders were already well-acquainted with some of their new neighbours.

“The buyers are farmers, and they want to use the home as their Perth base. They already have friends in the same street,” he said.

Meanwhile, the vendors are moving to be closer to family.

“The sellers have lived in the property for more than 30 years. They are moving across the river to be closer to their grandchildren,” Mr Rogers said.

Sixteen homes were taken to auction in Perth in the past week, double the amount taken to auction the week prior, and compared to seven at the same time last year.

Ray White chief economist Nerida Conisbee said there appeared to be improved confidence in the market following the first rate cut in four years, announced on Tuesday.

“Although the market slowed at the end of last year as a result of more homes coming up for sale, we had already seen signs of recovery in January,” she said.

“The downturn appears to have already been reversed and this will provide more momentum into the market,” she said.

CoreLogic expects a drop in auction numbers next week.

“The volume of auctions is set to reduce a little next week, with approximately 2,540 auctions currently scheduled,” Mr Lawless said.