Aleisha Dawson, Property Journalist
First published 26 Oct 2026, 2:00pm
601/57B Newstead Terrace, Newstead.
A riverfront penthouse that belonged to a prominent Queensland businesswoman sold at auction in Brisbane over the weekend despite only one in five properties in the city selling under the hammer.
Realestate.com.au data revealed the River City’s preliminary auction clearance rate was just 22 per cent, down from 30 per cent last weekend.
Regional Queensland’s rate fell further to 18.9 per cent, down from 24.8 per cent.
Realestate.com.au economist Luc Redman.
“Brisbane and Queensland’s clearance rates remain subdued,” said realestate.com.au economist Luc Redman.
“As the Queensland housing market continues to soften due to interest rates and tax changes, the clearance rate is likely to stay at a constrained level.
“The RBA has a greater than 50 per cent chance of increasing the cash rate again in November, with clearance rates likely to remain low until sellers adjust down price expectations or demand returns.”
The biggest sale under the hammer in Brisbane was a luxury unit that sold for $5.825m.
The property belonged to renowned businesswoman the late Betty Byrne Henderson, who helped build the Byrne Ford car dealership empire with her husband Bernie Byrne.
601/57B Newstead Terrace, Newstead.
Her family put her Newstead penthouse on the market through Place’s Sarah Hackett.
Mrs Hackett said two bidders registered for the auction with the property selling to a local buyer looking to renovate.
Located at 601/57B Newstead Terrace, the three-bedroom apartment occupies the top floor of the Arcadia building at Mariner’s Reach, with a wraparound terrace and uninterrupted northeast river views.
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Ray White Springwood sales agent Johnson Teo (right) with the sellers of 481 Springwood Rd, Springwood, and Ray White’s Debbie Finau (left).
481 Springwood Road, Daisy Hill sold under the hammer for $2.3m.
Meanwhile, a sprawling property south of Brisbane in Daisy Hill sold under the hammer for $2.3m.
A couple from Taiwan bid via video to secure their dream home at 481 Springwood Rd.
Ray White Springwood sales agent Johnson Teo said the buyers were planning to come back from Taiwan to live in the five-bedroom two-storey home.
“They have family in Sydney who will join them,” he said.
481 Springwood Road, Daisy Hill sold under the hammer for $2.3m.
He said the sellers had lived there for 25 years and were downsizing to live closer to the CBD.
On Thursday the BMW Motorline auction event achieved an 85.7 per cent clearance rate across 21 properties with 18 homes sold, generating $15,223,786 in total sales volume.
Ray White Rochedale head of growth chief auctioneer Daniel Diamantopoulos said the depth of engagement remained high throughout the evemt, with 51 registered bidders competing across the campaign.
The standout performer was 17 Foot St, Acacia Ridge — Consisting of a block of nine units on a single title, the asset ignited competitive bidding among 13 registered bidders.
17 Foote Street, Acacia Ridge sold for $1.732m.
Driven by strong investor appetite for high-density, income-producing holdings, the hammer fell at $1.732m, shattering the $1.4m reserve by $332,000.
Mr Diamantopoulos said despite the challenging market conditions over recent months, the results were a fantastic reminder that buyers were still very much in the market and prepared to compete for the right property.
“We’re certainly seeing a more selective and considered buyer pool,” Mr Diamantopoulos said.
“Purchasers are doing their homework, taking their time and being more cautious with their decisions.
“However, when a property is positioned correctly, the campaign is executed well and sellers are aligned with market expectations, we’re still seeing some exceptional results.
17 Foote Street, Acacia Ridge sold for $1.732m.
On the Gold Coast, a series of online auctions shows homes were still selling under the hammer despite softening clearance rates, with agents saying it’s all in the ‘campaign’.
Broadbeach agency Ray White Malan + Co this month sold five out of five properties at their online auction day, with the highlight a hinterland acreage at Bonogin, which sailed past its reserve in a matter of minutes.
The property, at 86 Glenmore Drive, sold when the gavel came down at $1.76m amid a flurry of bids.
86 Glenmore Drive, Bonogin sold for $1.76m.
Agent Lisa Bourne said she was always confident it would sell at auction given she had 71 groups through the home with nine pre-auction offers and seven registered bidders.
She said the key to a successful auction in the shifting market was actually engaging with buyers — as much as vendors — and helping them make an informed and competitive bid.
“We sold five out of five on the day (at auction), so it can be done,” she said.
86 Glenmore Drive, Bonogin sold for $1.76m.
“But the ‘campaign’ is more important than ever at the moment because it gives buyers a clear end date to prepare themselves to bid on the day.
“I’m seeing so many EOIs fall over lately because buyers are coming in and wanting to buy conditional on sale with long finance terms.
“This poses a huge risk to vendors as these contracts often fall over, and then their property languishes on the market for months.
15 Berrigan St, Southport sold under the hammer through Ray White Malan + Co.
The four other properties to sell on the auction day were 15 Berrigan St, Southport; 16 Christina Ryan Way, Arundel; 13 Crinum Cres, Southport and 86/210-218 Surf Pde, Surfers Paradise.
Ray White Malan + Co CEO Michael Andrews said selling at auction was a three way collaboration between the vendor, agent and auctioneer.
“When you’ve got 70 odd people looking at a particular property, that tells you buyers are still very active in the market,” he said.
“If a property is marketed well, and the vendor can trust their agent and auctioneer, they will get a result.”
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