43 Seventh Avenue, Kedron, sold for $1.55m under the hammer.
Rain did not dampen the price a four bedroom Brisbane home fetched at auction, with the property seeing a 63 per cent jump in just two years.
The home at 43 Seventh Avenue, Kedron, went under the hammer with three bidders registering to make offers on it. The owners had bought it in 2020 for $950,000, a price that was knocked out of the park with the first bid.
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Auctioneer Justin Nickerson saw bidding open at $1.3m, which was $350,000 more than the owners had paid. Two of the three registered bidders then pursued the home in front of a crowd of about 40 people.
Bids came in at $1.4m, then $1.45m before pausing at $1.5m. Negotiations with the top bidder then saw the top offer increased to $1.55m which is the price it sold for.
Agent Nathan Johnson of LJ Hooker Stafford said the price was a reflection of how popular Kedron has become among homebuyers given its access to the city, airport, parks and sporting facilities.
The home has retained much of its old world charm.
High ceilings are a key feature.
”We’re still seeing great character homes in these locations fetch above reserve pricing, which is what this was.”
He said 56 parties had come through the inspection process.
“Those numbers would be down on what the market was six to eight months ago but it’s qualified buyers that are still happy to buy in these blue chip locations.”
The Kedron house sits on a 610sq m block and had been recently painted, with the bathroom renovated and a new ensuite put in.
Mr Nickerson said the rain did not impact the crowd which was not surprising given the interest in the market.
“Unless it’s torrential rain, crowd sizes are good. People want something to do because they can’t do stuff they usually do outdoors.”
Renovations have ensured indoor space is maximised.
Loads of room for improvement, but also move in ready.
He said results were a little inconsistent across the market at the moment.
“Everyone’s still adjusting to the temperature of the market. We’ve had a number of good registered bidders at auctions around six-plus that haven’t resulted in a sale because the sellers didn’t necessarily want to accept what the market may be offering at this time,” he said.
“We still have buyers who do want to transact. A large degree of buyers know it’s a good time to buy, but there are also a lot of buyers waiting for the perfect time, and as we know the perfect time is only the perfect time in hindsight.”
He said several homes were also selling prior to auction with the gap between offers and auction results narrowing.
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