Brisbane stunner sells as city tops long weekend’s auction action as Adelaide and Perth sell their share

Just over 1000 homes went under the hammer in capital cities last week, half the number that went to auction last ANZAC Day long weekend.

Brisbane was the busiest auction market of the smaller capitals, with 98 homes going under the hammer.

“Only 47.1 per cent of auctions have reported a successful result so far, the lowest preliminary clearance rate since the week ending April 30, 2023 (43 per cent),” said CoreLogic research director Tim Lawless.

One of those homes that did sell was a grand five-bedroom, four-bathroom home with a swimming pool in Carina Heights, just 10 kilometres south-east of Brisbane’s CBD.

The stunning home at 40 Gyranda Street, which features an ornate central staircase and chandeliers, sold under the hammer for $2.553 million.

Meanwhile, in Benowa Waters on the Gold Coast, a five-bedroom, four-bathroom home with a swimming pool has sold at auction for $2.8 million.

Lead agent James Gien from Ray White Palm Beach said five active bidders battled it out for the keys to the coveted home on Saturday.

He said the successful bidders were doctors who had recently relocated from interstate and who only saw the home for the first time on the day of the auction.

“The sellers are downsizing locally on the coast,” Mr Gien said.

“The property is a fantastic family home, and buyers were aware that the property needed to be sold which drew in a lot of attention,” he said.

“The market is a little hit and miss at the moment; often at the higher price point, properties are at risk of sitting on the market,” Mr Gien said.

Home hits the market for first time in almost 70 years

In Adelaide, a home built in 1956 and owned by the same family ever since has attracted 17 registered bidders, all developers keen to reimagine the much-loved home.

Listing agent Jayden Lugg from Belle Property Henley Beach said eight of the registered bidders placed a bid during the competitive auction at 32 Northey Court, Henley Beach.

He said the family attended the auction and were emotional as their family home sold under the hammer for $1.605 million.

“It was emotional for them but it was a great result, so they were happy,” Mr Lugg said.

Mr Lugg said the property was particularly popular among developers given it is located on a corner block that has the potential for both redevelopment or subdivision.

“This was essentially a development site on a corner block in a blue chip beachside suburb that offered a lot of flexibility in terms of what you can build. It was very popular,” he said.

The home was one of 76 auctions held in Adelaide last week with a preliminary clearance rate of 61.1 per cent.

CoreLogic’s Tim Lawless said it was Adelaide’s “second lowest preliminary clearance rate this year after the week ending March 23 (60.8 per cent).”

Three doors from the beach

In Perth, a five-bedroom, three-bathroom home just three houses back from Sorrento Beach has sold under the hammer for $2.325 million.

Listing agent Scott Langley from Ray White North Quays said the auction started with a bid of $1.7 million, with three of the nine registered bidders placing a bid during the auction.

He said the winning bidder was a builder with a young family who plan to renovate and extend the home.

“The seller is an investor from over in the east and they have cashed in,” he said.

“They bought it for $1.65 million in 2021, and they haven’t done anything to it,” he said.

“This result gives you an indication of the strength in our market; it is very active along the coast,” Mr Langley said.

Meanwhile, the nation’s preliminary capital city auction clearance rate has fallen further to 64.2 per cent, down from 64.7 per cent last week, which revised down to 57.6 per cent on final numbers.

“This week marks the lowest preliminary clearance rate since mid-December 2024,” Mr Lawless said.

“1080 auctions were held over the past week, a substantial rise from the 644 homes auctioned over the Easter long weekend a week ago, but well down on the Anzac Day long weekend a year ago when 1964 homes were taken to auction.”

“The lower level of activity is at least partly attributable to the consecutive long weekends of Easter and Anzac Day which has likely impacted on the timing of auction events,” he said.