Conditional buyers were out in force at the auction of this Lota home, hoping it would pass in. Picture: Debra Bela
Auctioneer Christian Hamilton had left the backyard of 17 Ferndale St at Lota but a queue of buyers remained as Brisbane auctions continued the theme from last weekend of homes passing in before selling soon after.
Conditional buyers now have until 3pm Sunday to get their best offers in to buy 17 Ferndale St, Lota.
“I was hoping it would pass in,” said Wynnum mother of four, Candice Fulton.
One of five buyers to put in a pre-auction offer on the Lota home, Mrs Fulton took her place in a line of conditional buyers who were waiting to speak with Harcourts selling agent Xander Evans after the three-bedroom bayside property failed to sell under auction terms.
Brisbane’s auction clearance rate now sits at a preliminary 36.5 per cent for the week, with more than 80 homes testing the market on Saturday.
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Buyers who couldn’t bid at auction line-up to see Harcourts agent Xander Evans after the home passes in.
“We’ve been looking for six to nine months and we’ve just sold our own house because we kept losing out to others even though we had the highest price point, but we had the condition of the sale of our house. We didn’t register for the auction today but we are very interested.” A similar story played out an hour later in Holland Park West, where six registered bidders hid within a crowd of more than 100 to not buy the brand new home at 26 Kneale St, Holland Park West.
Prestige listings like this one at 26 Kneale St, Holland Park West, are drawing huge auction day crowds. Picture: Debra Bela
“This is the last chance for transparency,” Ray White auctioneer Haesley Cush said after accepting an opening bid of $2m and working with four bidders to get the property to $3.45m. “Buyers this is what we’re going to do. We’re passing it in at $3.45m. You’ll still have to put your offer in. You’ll still have to compete with each other. You’ll put in a contract and say, ‘How close am I?’ And the agent will say, ‘I can’t tell you, sorry.’”
Homes in West End and Chapel Hill also passed in at auction despite having seven and 10 bidders apiece with agents lamenting the broadening gap between the expectation of sellers and buyers who are testing the market for post-boom bargains.
But Brisbane’s auction clearance rate was helped by the sale of an Everton Park home in Brisbane’s north that was being sold for the first time in more than 50 years.
Brisbane’s preliminary auction clearance rate sits at 36.5 per cent, helped by the sale of 64 Fallon St, Everton Park on Saturday,
Apollo Auctions auctioneer Justin Nickerson worked with three of the four registered bidders with the three-bedroom original condition house on 607sq m at 64 Fallon St selling above reserve for $950,000. “Interest rates certainly have had an impact on inquiry and the number of bidders and consumer confidence,” Professionals Everton Park selling agent Justin Brady said. “I think the theme is that good property will prevail and still buck the trend a little bit. If this was three months ago we might have expected 20-plus registered bidders. We had 25 per cent of those today so that’s certainly changed but thankfully the result was exceptional.”
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