More than 30 people signed up this weekend to bid on a picture-perfect family home, in a Brisbane auction that drew a crowd of 150.
The home at 3 Violet Pl, Calamvale, saw 200 groups inspecting the property over the campaign leading up to the auction.
3 Violet Pl, Calamvale
Place Sunnybank agent Jess Chia said the 750 sqm estate saw a wide variety of interested buyers, including both downsizers and upsizers.
“It’s a lowset four-bedroom home in a quality suburb,” she said. “It’s a lot newer, and has larger land sizes than some of the neighbouring suburbs like Sunnybank.”
The Saturday auction saw 31 registered bidders arrive on the day, with around 7 of them actively participating in the bidding when it began at $1m.
31 registered bidders arrived for the weekend auction, drawing a massive crowd that flooded the house.
Competitive, decisive bidding followed, with around seven groups looking to make a play for the family home.
Quick, “competitive” bidding followed soon after, seeing the price spike up by hundreds of thousands of dollars.
“Within just the first minute, we surpassed the reserve, and ended up selling for $100k over the reserve price,” Ms Chia said.
With three bidders still competing right up until the $1.4 million mark, the final $25,000 pushed the winner over the edge.
Finally, the home sold to its new owners for $1.425 million.
The home was valued for being a low-level home with a lot of space, in a respected school catchment. The prospect of lower interest rates have encouraged some buyers to bid in this price range more boldly.
The suburb median house price is $1.265 million, making the final price nearly $200,000 over the typical price of a home in Calamvale.
“With interest rate cuts expected soon, I think that’s definitely the reason why there’s so much buyer confidence in the market,” Ms Chia said.
“This price range of homes have just been moving really quickly, and we definitely saw that in the competitive bidding on Saturday.”
The home has gone to a family with two adolescent kids, who plan to take them to the local high school within the catchment.
The home will be going to a family who plan to put their kids through high school in the area.