Queenslander draws city-wide interest as new investment hotspot
A large crowd gathered to watch 10 registered bidders contest the sale of a timeless Queenslander at 11 Folkestone Street, Bowen Hills in Brisbane's inner north.
Place agent Aaron Woolard said the property attracted intense attention. "Most of the properties in the suburb are apartments, so there's fierce competition for houses. First home buyers are flocking around the $1 million mark and investors up to the $2 million level."
Bidding opened at $1 million with a flurry of $50k, $20k, and $30k rises before a young couple from Brisbane's south secured the home with a winning bid of $1.350 million.
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By continuing you agree to our Terms and Privacy Policy.Woolard said the couple recognised the growth of Bowen Hills and were drawn to both the home's charm and its redevelopment potential.
"The Bowen Hills house market is unique," he added. "There's been a massive increase over past weeks with prices changing weekly. The market is stable with supply and demand, and I see a long-term growth rate."
The property itself blends character and versatility, with soaring ceilings, polished timber floors and light-filled interiors. "It's the combination of lifestyle and potential," Woolard said.
"Buyers could move in straight away or explore redevelopment under council approval. That really captured interest."
The vendors are relocating, passing the property into the hands of owners ready to embrace Bowen Hills' evolving inner-city appeal.
Brisbane hosted the most auctions, with 214 homes going under the hammer, according to Cotality.
A preliminary clearance rate of 71.5 percent was recorded, up 3.1 percentage points on last week and roughly in line with the spring average of 71.7 percent.
From blackboard to backyard. Auction sparks schoolhouse interest
More than 100 people crowded into the backyard of a former schoolhouse on Saturday as five bidders fought to secure one of Ethelton's most distinctive heritage conversions.
Originally part of the 1900-built Ethelton Primary School, the three-bedroom residence at 4/70-72 Old Pelham Street is one of just four architect-designed dwellings redeveloped in Adelaide's northwest.
Its towering ceilings, Baltic pine floors and feature blackboard wall drew admiring comments from onlookers well before the auction began.
Five registered bidders kicked things off at $750,000, with $25,000 rises pushing the property to $940,000 before a short pause. When bidding resumed, a young Sydney couple expecting their second child delivered the winning $950,000 bid.
"They were over the moon," said listing agent Kate Smith. "And in a really lovely moment, the very first owners of the home, who had sold to the current owners, were actually in the crowd. They met the winning buyers afterwards to reminisce and congratulate them."
Smith's view of the market is cautious. "The demand is definitely there, but stock over the past two to three years has been 20 per cent less year on year," she said.
"The supply ratio is out of kilter, especially around the coastal properties where the average hold is 12.5 years. Even people with multiple properties are hanging on to what they'd normally sell."
Despite the tight supply, she says the buyer mix remains balanced. "We're seeing an even spread of first home buyers and investors in the market."
For the young couple who prevailed, it marks the start of a new chapter in a home that has already lived several lives. For everyone else, it was a reminder that heritage charm, scarcity and coastal positioning continue to drive strong competition when the right property goes under the hammer.
In Adelaide, 189 homes went to auction, a 29.5 percent increase on the previous week, according to Cotality. So far, 85.2 percent of auctions have reported a successful result, the highest of any capital and a 12.6 percentage point rise from last week.
Well-loved Wanneroo house garners 150 percent profit
Bidding for 81 Nannatee Way, Wanneroo, WA drew an eager crowd of 60 as nine registered bidders contested the three-bedroom family home.
"The property attracted a lot of first home buyers due to its affordability, with 50 groups inspecting during the pre-auction campaign," said Ray White agent Scott Langley.
Bidding opened at $700,000, quickly rising in $25,000 increments to $900,000 before slowing to cautious $5,000 jumps.
"The last two bidders were both first home buyers," Langley said. So it was a young couple supported by their parents who closed the sale at $935,000." The vendors, who purchased the home in 2010 for $377,000, are now planning to upsize.
"I'm noticing an uplift in numbers of people inspecting and overall interest in every house I show, and it's due to limited supply." Langley said.
The property's versatile layout, light-filled interiors, and expansive alfresco areas made it highly appealing to buyers seeking both comfort and lifestyle, while its established, low-maintenance gardens and room for a fourth bedroom added extra draw for families.
23 homes were auctioned in Perth, with only 54.5% reporting a positive result, according to Cotality.
Originally published as Queenslander draws city-wide interest as new investment hotspot
