The luxury house at 11 Watson St, Newmarket, scored the best sale at auction for Ray White over the weekend, going for $4.9m under the hammer.
Queensland scored the best auction sale for Australia’s biggest real estate firm this weekend, despite having the lowest clearance rate of any state.
The six-bedroom luxury house at 11 Watson St, Newmarket, had just two active bidders out of four, but managed to go under the hammer for a whopping $4.9m price tag.
The positive result comes despite Queensland’s preliminary clearance rate of 21 per cent, tied with Western Australia as the lowest in the country.
The positive result came despite a Queensland preliminary clearance rate of 21 per cent, tied with Western Australia as the worst result nationwide.
Ray White Wilston agent Alistair Macmillan said the buyer of 11 Watson St used to live opposite the home when he was a kid, but almost backed out of the auction on the day.
“He texted me this morning saying he wasn’t going to come – and he turned up and ended up buying it!,” he said.
The buyer continued a trend started by the sellers, who also lived near the home before they bought it for themselves.
“They sold their house to buy 11 Watson St,” Mr Macmillan said. “They moved across the road and have lived here since the early 2000s. Now they are downsizing.”
The auction for 77 Harding St, Hendra, was one of the more popular over the weekend with 10 registered bidders. Only 51 recorded homes sold during last week’s auction cycle.
Only 51 out of 246 recorded homes sold at, before or after auction last week, while 195 homes were either withdrawn or passed in.
This is an increase from the 18 per cent clearance rate last week, the latest in a streak of low rates for the state.
Ray White Queensland head of auctions Tom Gunness said sellers were adjusting their expectations to fit with the new market, which helped improve the week’s results.
“Sellers have shifted their expectations to meet the market more often than not and we are seeing lively negotiations across the majority of our auctions this week.,” he said.
The house at 77 Harding St, Hendra, sold for $1.18m after a fight between three bidders on the day.
Meanwhile, the home at 11 Mack St, Wishart, had five registered bidders who were all active, earning the home a $1.35m sale.
“Prices are remaining stubborn, but overall there are positive signs as to the acceptance of in the market from both parties.
“Buyer numbers remain strong across our auctions and open home inspections with sentiment surprisingly resilient.”
One of the most popular homes that weekend was the three-bedroom house at 77 Harding Street, Hendra, which drew ten registered bidders for the auction.
Three bidders were active for the property, which had six people register on the day after never having seen it before.
The home sold under the hammer for $1.18m, going to a young local family with potential plans to renovate.
RE/MAX Revolution agent Henry Wong said ready-made homes near good schools were still in high demand during this tough auction season.
In Wishart, all five registered bidders were active at the auction of the three-bedroom house at 11 Mack St.
Starting at an offer of $850,000, a bidding war of 26 offers took place, with the home shooting past reserve to sell for $1.35m.
RE/MAX Revolution agent Henry Wong said each bidder was a family eager to get into the Mansfield State High catchment for the next school year, which motivated buyers even in today’s market.
“Families aren’t just buying a house. They’re buying their children’s future,” he said.
“What drew every bidder was a home ready to move into, a short walk from the school gate.”
Help us improve your reading experience
Got a minute? Your feedback will help us build a better experience for you.
