SURG­ING AHEAD

The Courier-Mail - Property - - FRONT PAGE - TEELA JUR­GENSEN

THE hard part about reporting on cur­rent con­di­tions in a ris­ing mar­ket is that the data takes a while to catch up, which can be frus­trat­ing when you are hear­ing so many suc­cess sto­ries.

That’s why an auc­tion that took place on Valen­tine’s Day caught my eye – not only for the good re­sult but also be­cause it il­lus­trates how the mar­ket has evolved over the past 18 months.

This was the third time the Bris­bane own­ers of 906 Sandgate Rd, Clay­field went to auc­tion with their in­vest­ment property.

The first auc­tion took place in Oc­to­ber 2012, and there were no bids. The sec­ond was al­most a year later, in Septem­ber 2013, and the property was passed in with a live bid of $650,000.

It then went back to auc­tion on Fe­bru­ary 14 and sold for $700,000 un­der the ham­mer, with three reg­is­tered bid­ders and mul­ti­ple of­fers re­ceived prior to auc­tion.

Mar­ket­ing agent Damon Warat, of Ray White As­cot, said the property sold as a ten­anted property to an in­vestor.

“Buy­ers are very ag­gres­sive at the mo­ment,” Mr Warat said.

“There are low stock lev­els and high de­mand.”

Mr Warat is also ex­pect­ing a sale at 6 Fifth Ave, Ke­dron which goes to auc­tion on March 8.

Own­ers An­dre and Myl­ton Burns are down­siz­ing af­ter 14 years in the five-bed­room home.

The home, built in 1922, was where An­dre her­self was raised and the cou­ple bought it in 2000 so they could raise their own chil­dren there.

RE/MAX Pro­file Bar­don agent Robert Dean has been “floored” by the re­ac­tion to 25 McPher­son Rd, Sin­na­mon Park, which was listed for three days be­fore be­ing sold to a cou­ple from Jam­boree Heights.

The first in­spec­tion at­tracted 48 groups and re­sulted in 10 of­fers for owner Wayne Strick­land, five of which were above the listed price of $529,000. The con­tract is due to go un­con­di­tional on Mon­day and Mr Dean said the sale price was al­most 10 per cent above the listed price.

“I’ve never seen a re­ac­tion like that to a property like that since the boom in 2007,” Mr Dean said.

“The pre­sen­ta­tion and size of the block (736sq m) gen­er­ated lots of in­ter­est.”

An­other sales suc­cess on Bris­bane’s north­side was an acreage property at Lot 203 Van­cou­ver St, Brighton, which went un­der con­tract this week af­ter four days on the mar­ket with RE/MAX Property Shop brother and sis­ter team Ta­mara and Mark Wecker.

On the mar­ket for the first time, the property in­cludes a six-bed­room home built in 1924, which was moved to the cur­rent site from Wyn­num by ven­dors Alice and David Hill, and a fully self­con­tained guest­house.

Five buy­ers were com­pet­ing for the property. The sale goes un­con­di­tional on Mon­day, with the price ex­ceed­ing $1 mil­lion.

GREAT RE­SULTS: 906 Sandgate Rd, Clay­field (above) fi­nally sold at its third auc­tion on Valen­tine’s Day and (be­low) 25 McPher­son Rd, Sin­na­mon Park, was listed for just three days be­fore sell­ing to a cou­ple from Jam­boree Heights.

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