Brisbane auctions: Massive crowds as bidders battle for $1 million-plus properties

Huge crowds are returning to Brisbane auctions, with hundreds turning out to weekend sales of quality homes above $1 million.

On Sunday, the auction clearance rate was sitting at 47 per cent, with 55 auctions and 29 results reported across the city.

The auction of 24 Percival Terrace, Holland Park, brought one of the best results with the five-bedroom, three-bathroom home selling for $1,746,000, some $146,000 above reserve.

Selling agent Jonathan Harper-Hill, of Belle Property Coorparoo, said it was a fierce auction with a bid of $1.45 million opening proceedings in front of up to 100 people. 

Six registered bidders battled it out for the property, making about 100 bids before the property sold to a young family. 

Harper-Hill said while there was a shortage of homes for sale at auction across Brisbane, good quality properties like this rarely came on to the market.

“I think Holland Park, at the moment, there’s a big push for quality, A1 properties from buyers,” Harper-Hill said.

Another big auction at 12 Currumbin Place, Carindale, attracted a large crowd gather, with bidders battling it out for the four-bedroom, two-bathroom property in Brisbane’s eastern suburbs.

Ray White Queensland’s chief auctioneer Mitch Peereboom said the auction was “hotly contested” with the home selling for $1,141,000.

“Certainly, the day just confirmed that time and time again buyers are getting themselves in a position to bid, they are happy to compete for the properties and certainly are walking away with some outstanding outcomes,” Peereboom said. 

While it didn’t sell for above $1 million, a property at 19 Tapscott Street, Wishart, did have some serious competition at auction.

Some 15 registered bidders battled it out for the keys to the four-bedroom, three-bathroom home, which sold under the hammer for $905,000, passing the reserve by $75,000.

Selling agent Kosma Comino, of LJ Hooker Sunnybank, said the four-bedroom, three-bathroom home was bought by a young family moving to Queensland from Sydney.

“The majority of bidders were young families,” Comino said.

He said it was a great result for the vendors with a crowd of 100 people there to see the auction play out.

While bidders were battling it out for properties, one, who turned up late to an auction at 122 Beaconsfield Terrace, Gordon Park, held up proceedings.

Ray White Alderley director Andrew Cowan said bidding was consistent up to $925,000 when action stalled as the latecomer rushed to register. 

“It gave those on the front lawn time to think about the wonderful views, and extensive renovations that the property promised,” Cowan said.

When the auction resumed, the original Queenslander, which has been in the same family for 95 years, sold for $980,000.

The property sold to a local couple who were keen to start work bringing it back to its former glory.