A 50 year-old home is defying Brisbane’s clearance rate slump, with seven bidders already registered days before its weekend auction.
The four-bedroom house at 17 Dema St, Sunnybank, is expected to reach 10 registered bidders once the auction begins, thanks to a 98 year-old owner with a strong intent to sell.
The lively turnout comes just after Brisbane’s clearance rates were recorded to be the lowest in the country.
The four-bedroom house at 17 Dema St, Sunnybank, has gathered seven registered bidders for a weekend auction, at a time when Brisbane’s clearance rates are the worst in the country.
Rate White Rochedale agent Miranda Cheang said the home ticked all the right boxes for buyers in the area, from easy access to shops to subdividable, north-facing land.
“Around four bidders are owner-occupier and the rest are tradies and developers,” she said.
“I see more people looking to do renovations … 17 Dema St needs a lot of work, but because the seller is 100 per cent selling, [there’s a lot of interest].”
The home’s 98 year-old owner is intending to sell the property as she moves into a nursing home, and the auction is attracting a split of owner-occupiers and builders.
The seller bought the 859 sqm home in 1977, worth just $51,500 when it was first grabbed.
The vendor now intends to move into a nursing home, with her daughter and grandchildren attending the auction in her place on Saturday.
“They’re the only owner of this home,” Ms Cheang said. “She raised three generations in this property; they absolutely have a lot of nice memories from that.”
Ray White Rochedale agent Miranda Cheang said accessible homes with subdividable land were exactly the kind of properties that still did well in today’s market.
The two-storey home’s floor plan was designed for family living on the upper floor and entertaining on the ground floor, with a multipurpose room and bar leading into the alfresco zone and pool outside.
With a 21.5m frontage, the solid double-brick home is being eyed for its potential as both a renovated multigenerational property, and a blank canvas of land for a new build.
Offers are also being accepted and considered prior to auction.
Only 18 per cent of homes up for auction in Queensland last week sold, with more than 300 homes either withdrawn or passed in across the state.
Last week, only 63 out of 409 recorded homes in Queensland sold at auction, the worst turnout across the country.
Just 51 properties sold under the hammer, with 15 selling prior and 7 selling after, while 47 homes were withdrawn and 289 were passed in.
Ms Cheang said she felt buyers in today’s market were primarily owner-occupiers, seeking ready-made homes with sellers intending to sell.
“It depends on what the seller’s situation is,” she said, “[but] people are looking for properties with strong build quality, that are ready to move in.”
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