Brisbane, Adelaide & Perth: Auction frenzies as luxe homes soar past reserves

Strong results were seen under the hammer across Brisbane over the weekend, including the $3m sale of a luxe five-bedroom pad in the lush southside suburb of Holland Park West.

Five bidders fought for the keys to the 19 Castle Street property at the Saturday morning auction, which kicked off with a $1.5m offer before “rocketing” up to about $2.75m.

Bids increased in $20,000, $10,000 and $5000 increments in an arm wrestle between the buyers before a couple represented by a buyer’s agent placed the winning offer.

It was called on the market at $2.975m with about 75 people watching on eagerly in the crowd.

Place Estate Agents Brisbane’s chief auctioneer Peter Burgin called the auction and said the successful couple were in tears with the result.

“They loved the home and really wanted it,” Mr Burgin said.

Place Woolloongabba director Denis Najzar helmed the sale of the 809sqm property, which features stunning views from its secluded hilltop position.

The home comes with many lavish inclusions, including a heated saltwater swimming pool and a gourmet kitchen with Caesarstone benchtops, European appliances and a butler’s pantry.

It was one of several strong auctions Mr Burgin called across the city on Saturday, including the $2.18m sale of 3 Norman Street, Fig Tree Pocket, and the $3.888m sale of 29 Glencairn Avenue, Indooroopilly.

“The money is there for the right homes,” he said. “People can see themselves living in these homes for a long time, it’s usually families looking at the next 10 to 15 years so they’re happy to get in there and not have to compete anymore.

“Everyone still has the view that it won’t be too long until we see prices going north in Brisbane again, so people want to get in and secure their home.”

The notable sales were among the 189 auctions that took place in Brisbane this week - an increase on last week’s auction volume of 173 homes that went under the hammer.

The city’s preliminary clearance rate also increased from last week’s early figure of 53.2 percent to 59.3 per cent this week.

Retro Adelaide pad scores $180,000 premium

Down south in Adelaide, a retro 1960s house at 9 Almond Avenue snared a $1.2m result under the hammer, smashing its $1.02m reserve by $180,000 after five buyers competed for the keys.

It was one of 158 auctions that took place across the city - about the same as last week’s auction volume.

Ray White Norwood agent Linda Clemente handled the sale of the three-bedroom home, which came with much of its original ‘60s charm.

A mix of owner-occupiers, investors and developers went up for the property, however the sale went to a developer who planned to knock it down and build two homes in its place.

The owners were selling to relocate to Adelaide’s east after living in the Glynde home for nearly 20 years.

“The market is great in general, we had another brilliant land auction last night with 12 registered bidders,” Ms Clemente said. “For quality properties that people can see value in, they are performing very well.”

Adelaide saw the strongest preliminary clearance rate among the smaller capital cities at the same rate as last week of 70.1 per cent.

The combined preliminary clearance rate for capital cities across the nation was 65.9 per cent - a minor increase from last week’s preliminary figure of 65.8 per cent.

A total of 2968 auctions were on the cards across the capital cities, compared to 2848 last week and 29990 at the same time last year.

Luxe Perth home attracts mystery celebrity buyers

In Perth, auction numbers dropped from 23 last week to just 18 this week.

However, the Western Australian capital saw a noticeable uptick in its preliminary clearance rate over the week, increasing from 53.8 per cent to 66.7 per cent.

Among the strong results under the hammer was the $1.3m sale of a stylish contemporary abode at 524 Rockingham Road, Lake Coogee.

Originally built in 1972, the four-bedroom pad has since undergone a significant transformation into a property complete with luxe interiors, a basketball court, a swimming pool and fruit trees.

A huge crowd turned up to watch the auction, which kicked off with a $1m offer before it was called on the market at $1.3m just before it sold to an unnamed celebrity figure. There were said to be a few notable figures competing, including a couple of footballers and a singer.

“The owners were ecstatic and couldn’t believe it,” Omeo Property Group North Coogee director David Bombara said.

Approximately 2550 homes are currently scheduled to go under the hammer across all capital cities next week.