$5m sale leads record-breaking auction day

This six-bedroom, four-bathroom mansion at 120 Prince Edward Pde, Scarborough has sold for $5m.

RECORDS were broken in three suburbs on Saturday but auction clearance rates were down as Brisbane heads into the spring selling season.

120 Prince Edward Pde, Scarborough was sold through Stephanie Williams of Ray White Scarborough.

The $5m sale of a waterfront mansion in Scarborough was the top sale of the day with 120 Prince Edward Pde, Scarborough setting the auction record for the peninsula suburb.


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44 Glenhurst St, Pinjarra Hills was sold through Kel Goesch of Brisbane Real Estate – Indooroopilly.

Pinjarra Hills also set an auction record with the $3.475m sale of 44 Glenhurst St.

30 Bligh Place, Drewvale was sold through Chris Gilmour and Megan LeBherz of All Properties Group.

A seven-year suburb record was broken in Drewvale near Logan City when a four-bedroom house at 30 Bligh Place sold for $1.365m.

66 Northam Ave, Bardon was sold through Caroline Brown and Liz Allom of Caroline Brown Property – Paddington.

And a Bardon home made more than $750,000 in a year when it sold for $1.857m, after previously selling in August 2020 for $1.1m.

Place Ascot principal Drew Davies said interstate buyer enquiry was up 300 per cent over winter with lockdowns prompting southerners to fast-track relocation plans.


Apollo Auctions director Justin Nickerson. Picture: Annette Dew

Apollo Auctions director Justin Nickerson said auction clearance rates for winter had consistently cleared 80 per cent.

But veteran inner-city estate agent of 30 years, Michael Mangelakis of REMAX, said the property price hikes were unsustainable and he anticipated a property correction in the near future.

“I know of one potential seller who six weeks ago wanted $2m, but now he’s wanting $4m, the market can’t sustain itself,” Mr Mangelakis said.

Queensland’s auction clearance rate for the week dropped to 65 per cent based on realestate.com.au data yesterday.

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