Today · Gulf Edu
The crowd at 10 Stephens Street, Annerley over the weekend. Brisbane’s auction clearance is the worst in the country, plummeting to just 16 per cent this week as buyers prepare for a predicted interest rate rise on Tuesday. Realestate.com.au data revealed the River City’s preliminary auction clearance rate was down from 22 per cent last weekend.
It comes as realestate.com.au data shows the relentless property downturn has stripped more than $62,000 from the typical Brisbane home to leave the median dwelling value at $1,014,000. Ray White data revealed Brisbane’s preliminary auction clearance rate was 16.2 per cent this week. Ray White CEO performance and value Thomas McGlynn said nationally, the group’s clearance rate fell to 35.4 per cent off the back of a 17 per cent increase in scheduled auctions.
“Brisbane experienced a particularly difficult week, with clearance falling to 16.2 per cent as auction volumes increased by more than 50 per cent,” Mr McGlynn said. “Sydney and Melbourne were more encouraging, with clearance rates improving to 53.8 per cent and 48.8 per cent respectively. Adelaide recorded a 34 per cent clearance rate while Perth recorded 25 per cent.
“These differences highlight just how varied conditions are across the country, but the broader picture is one of increased supply without a corresponding lift in buyer competition,” Mr McGlynn said. 240 Tinarra Cres, Kenmore Hills sold under the hammer for $6.2m. Ray White Queensland head of auctions Tom Gunness said buyers in Brisbane were hesitating in anticipation of the next interest rate rise. “The main talking point here is that sellers taking their properties to auction are given more opportunities than those who are selecting private sale,” Mr Gunness said.
“We are meeting twice as many buyers generating more offers and having Active competitive negotiations across the majority of our auctions in Queensland,” Mr Gunness said. MORE NEWS: $77k wiped: Brisbane to lose million-dollar status by early 2027 Brisbane named nation’s least affordable capital ‘Historic win’: REIQ crowns Queensland’s top property stars Ray White auctioneer Jason Andrew with Ray White Collective’s Christine Rudolph as he auctions 240 Tinarra Cres, Kenmore Hills. The biggest sale of the day was a secluded 1ha estate at Kenmore Hills which sold for $6.2m.
The French Provincial-inspired property at 240 Tinarra Cres, drew around 200 people to Saturday’s auction, but only two registered bidders, both of whom were active. Ray White Collective’s Christine Rudolph marketed the property while Ray White’s Jason Andrew called the auction. The buyers, a family with four children, had inspected the property several times before auction day.
“The buyers who bought it had been back four times and absolutely loved the property,” Ms Rudolph said. “They are a huge family, with four children, and they realise properties of this magnitude don’t come along often.” 240 Tinarra Cres, Kenmore Hills. The sale marks the end of a long chapter for the vendors, who spent almost 30 years shaping the grounds into manicured grounds with crushed-limestone paths and hidden gardens.
“It was tightly held for 30 years, and the family did the most incredible job creating these beautiful manicured gardens and providing this sanctuary,” Ms Rudolph said. 240 Tinarra Cres, Kenmore Hills. Privacy was a drawcard for the buyers. “They loved the fact the road is hidden,” Ms Rudolph said.
“You just wouldn’t even know it’s here.” The sellers’, who were overseas on the day, but their children were present, were pleased to learn the property was going to another family who would cherish it as they had. “For the sellers, it was a closing chapter,” “It’s been a very much loved home,” Ms Rudolph said. “Their children were so happy to see it was going to be another home to cherish as much as they did.
“It was a changing of the guard.” 10 Stephens St, Annerley sold at auction for $1.685 million. Other sales included a renovated character home 10 Stephens St, Annerley which sold for $1.685m via Jack Roberts of Ray White Collective. Called by Ray White auctioneer Peter Burgin, the auction attracted 10 registered parties, seven of those actively bidding for the single-level home, located just 90 metres from Junction Park State School.
The three-bedroom California bungalow features classic VJ walls, timber floors, and dual entertaining decks, combining family functionality with the low-maintenance appeal that caught the eye of downsizing buyers. 10 Stephens St, Annerley sold at auction for $1.685 million. Mr Roberts said the strong turnout reflected sustained demand for turnkey homes in the inner-ring pocket. “There is no truer test of price or of market than our auction today,” Mr Roberts said.
“With 10 registered bidders, it was very high; it had enduring appeal.” “Ultimately it was a downsizer and young family who fought it out, and the downsizers ended up with the winning bid.” 6 Orbital Close, Bridgeman Downs sold under the hammer for $1.215 million. A family home on a 919 sqm block at 6 Orbital Close, Bridgeman Downs, sold under the hammer for $1.215m. Sold by Ray White Icon’s Sonya Treloar, the auction attracted two registered bidders.
The winning bid went to a young family eager to settle into the expansive suburban block. “The buyers were a young family who can’t wait to have their first Christmas in the home,” Ms Treloar said. “It was a great result, and the sellers were very, very happy that they can now move on to their coastal life.” 14 Wesley Court, Noosa Heads.
On the Sunshine Coast, a riverside sanctuary at 14 Wesley Court, Noosa Heads, sold under the hammer for $7.5m, at Ray White Noosa’s in-room auction event last week. Occupying one of the largest single freehold blocks on the peninsula, the five-bedroom home has direct water access via a private jetty, a quiet cul-de-sac setting sheltered from seasonal tourism, and is less than 1km from Noosa Main Beach and the National Park. “It was originally a private treaty campaign and converted to auction which ultimately led to the sale,” agent Oliver O’Reilly said.
“Buyers primarily saw value in the property’s holiday letting potential, which grosses $300k in rental income as well as the water frontage and proximity to the Noosa Main Beach. “I feel like the amount of interest and auction-ready buyers goes against the predominantly negative market sentiment and proves the resilience of the Noosa market.”
Source: Real Estate
