This entry level property in East Brisbane attracted nine registered bidders.
EAST Brisbane was the hot spot for first home buyers yesterday when a four-bedroom house attracted nine registered bidders before selling for $847,000.
Belle Property Bulimba real estate agents Tony O’Doherty and Kaylee Doyle juggled six mobile phones between them as they kept up with the 24 phone bids that were thrown at auctioneer Justin Nickerson.
The live streamed online auction, held at Belle Property’s Bulimba office, was one of the last auctions to be conducted using an online only format.
The easing of COVID-19 restrictions will see a resumption of onsite auctions under strict conditions from next weekend.
“It was quite exciting actually,” Ms Doyle said.
“We had other people’s phones, going from phone to phone, talking to all the bidders which was an experience in itself.
“We had to save the numbers (on the phones) so we could see who we were talking to and then remember their bidding number as well.”
Inside the house at 74 Burlington St, East Brisbane.
The renovated Queenslander at 74 Burlington St, East Brisbane had caught the attention of Ashleigh Ross and her fiance after they missed out on a property at auction two weeks ago.
“Toward the end of last year we were just watching the market and the last two to three months have been really serious,” Ms Ross said.
“East Brisbane is an up and coming area that young people like us are going to want to buy into. It’s really undervalued, and this was an opportunity to buy at a great price.”
One of the four bedrooms at 74 Burlington St, East Brisbane.
Bidding started at $600,000 and Ms Ross, on the phone with Mr O’Doherty from the study of her Bulimba rental property, was the most active bidder, making 10 of the 24 bids, including the winning bid of $847,000.
At one point, bids were being shouted on top of each other, and Mr Nickerson had to pause to understand who had placed the bid first.
“Buyers in this price point are very active,” Mr O’Doherty said.
“Money has gone further than ever for them.
“The seller is in The Philippines. He’s selling because of expat laws. It suited him for tax reasons and the buyers are a local family, first time buyers.
“They missed out on an auction two weeks ago and they were just astute buyers.”
From next weekend, onsite auctions will again be permitted, as long as no more than 10 people attend, while the government continues its gradual easing of restrictions.
“It will take a bit of time to get confidence back,” said Place Sunnybank agent Owen Chan, who sold a house in Calamvale prior to auction yesterday.
“I think the majority of auctions will come back mid-June or early July.”
But with banks taking longer to process finance applications, most properties are continuing to sell under private treaty and fewer than 10 went to auction across Brisbane yesterday.