TWENTY-one-year-old first-home buyer Max Boughey stood in a room where a house had just sold for $6.2m and raised his paddle to bid.
The Ray White auction event crowd was still humming after the $6.2m sale of the tennis court estate at 48 Markwell St, Hamilton but Mr Boughey dug deep to keep his nerve after a six-month search to find his first home.
A two-bedroom apartment in inner-city Bowen Hills at 202/8 Jeays St was the property in his sights, and Mr Boughey bought the 96sq m apartment as the only bidder, for $420,000.
The sale contributed to $15.518m worth of property that sold under the hammer at the March auction event for Ray White New Farm, Bulimba, East Brisbane and Kangaroo Point.
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But when Ray White auctioneer Haesley Cush slammed the hammer down on the Code apartment, it was Mr Boughey’s 13-year-old sister Maggie who was the most excited.
“This means I get my own bedroom,” she said. “I’ve been sharing my whole life.”
Mr Boughey was at a loss for words at the sale.
“I remember that nervous excitement after I bought my first house,” auctioneer Haesley Cush said. “It was on Cobden St in Moorooka, in 1998 I think. I bought it because it was flood affected. It got hammered in the ’74 floods so the owners had to elevate it. But I was a single guy and it was all I could afford. It’s exciting to start your property journey.”
One of the first to congratulate Mr Boughey on the property was former hospitality worker Dan Monsour who was celebrating a milestone of his own on Saturday, his first sale as a newly minted real estate agent. “It’s been good to be able to help Max find this place,” he said.
Mr Monsour is also looking for his first home but said there were a deal of nerves involved in selling someone else’s home too. Six homes sold under the hammer during Saturday’s auction event for Ray White New Farm, Spring Hill, Bulimba and East Brisbane, totalling $15.518m, including the $6.2m sale of the five-bedroom estate on 2278sq m at 48 Markwell St, Hamilton that had six registered bidders.
A further two houses sold in the 24 hours before auction day for a combined $2.7m, while two houses passed in. Crowds were down on last month, but Mr Cush said those who came were actively participating with an average of three bidders per auction on the day. “This was the raw market, they had to do it themselves, they didn’t have 50 onlookers with them,” Mr Cush said. “I was looking at today as a bit of a read, and it’s still a very strong market with homes from $420,000 to $6.2m selling.”
Saturday also saw the $3.85m sale of 112 Moray St, New Farm to local buyers, and the $3.5m sale of the penthouse in the heritage-listed CSR Sugar Refinery building at New Farm to an international buyer.
Auction volumes remained high across Greater Brisbane on Saturday with more than 80 homes going to auction and a preliminary auction clearance rate of 79 per cent for the week ending March 13.
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