Popular Ashgrove home sells under the hammer for $1.65m – realestate.com.au

News Corp Australia Network

A popular listing in Brisbane’s northwest saw a nailbiting auction on Saturday as 25 bidders eyed their slice of the Brisbane property market, with the home selling well above reserve.

The two-bedroom, two-bathroom home at 48 Celia St, Ashgrove, sold under the hammer for $1.65m to a young Brisbane couple from New Farm with an opening bid of $1.1m.

A crowd of around 60 people attended the auction, which caught the eye of several curious neighbours.

Property agent Angela Mastrapostolos from Oikos Real Estate Bardon said the result was fantastic.

“We had to move the auction forward a week as the listing was so popular,” she said.

“There were 11 offers before the auction, and even though we were at a level that the vendor and I considered strong, we still wanted to proceed with the auction.

“It went for well above what we were expecting.”

Ms Mastrapostolos said her advice to sellers in the current market would be to go to auction.

“Because we’re lacking properties across Brisbane, if you’ve got a high-quality product, you would be foolish not to go to auction.

“A lot of my sellers meet the market value anyway but putting them in an auction situation, and you’re more than likely going to get a premium result like this one.

MORE PROPERTY NEWS

Auctioneer Justin Nickerson from Apollo Auction said this auction would be his lead story for the next few weeks.

“An extraordinary number of people turned out to the auction, and the interest was phenomenal,” he said.

“The property’s presentation was first class.

“When you’ve got the delay and costs of trade, a property like this makes it a very attractive decision to buy into.

“The home is a 90-year-old cottage with a lot done to it.

“Most bidders were young professionals, and we saw very competitive bidding.”

MORE: Prestigious Brisbane apartment complex almost 90 per cent sold before completion

Epic reno is one of over 80 SEQ auctions this weekend

Mr Nickerson said his advice to buyers is to come ready and prepared for auctions.

“The people who generally win auctions, they’ve done the research, and they’re the most confident. They go into the auction with a real plan and strategy.

“For this auction, the buyer that secured the home was the one who was bidding quite quickly, which put pressure on their opposition.

“I think when bidders appear confident and put large bids in place rather than putting in small bids and slowing things down are guaranteed success.

“When you bid confidently, it puts doubts in your opposition’s mind.”