A small, art deco home that has barely seen the real estate market in the past century has sold for well over the median price of the popular Brisbane suburb.
The character home at 11 Boon Street, Ashgrove, only has two bedrooms and one bathroom, but had four registered bidders eager to compete for the place on the sunny Saturday morning.
11 Boon St, Ashgrove
With a recently renovated bathroom, the home was described as a unique bungalow within the area, and has only been on the market three times since it was built.
The home was owned by a couple since 2016 who have since had a child, who described their lifestyle within the home as “relaxed” throughout their eight-year residence.
A crowd of twenty people gathered in the backyard, where the auction began with a starting bid of $1.2 million: exactly the median house price for Ashgrove.
Onlookers sought out the shade after having walked through the small but cozy property, elevated above the nearby road. Picture: Nicholas Finch
Bidding went back and forth in offers of $50,000, before slowing down just shy of $1.4 million. Three bidders were actively moving back and forth with rising bids, with one bidder calling in over the phone.
After a pause in the bidding, the top bidder went inside to negotiate with the vendors and agents from Ray White Paddington.
When they re-emerged, the price had raised by nearly $100,000 – and the home sold for $1.47 million.
The house is full of artistic flourishes to emphasise the unique character of its architecture. Picture: Nicholas Finch
The winning bidders were a couple, with one of them calling their architect partner while overseas in Shanghai.
Agent Judi O’Dea said the two had sold their old home in the New Farm-Teneriffe area, with Ashgrove homes having a larger space and a more tight-knit community.
“They just love the building, they love the style,” she said. “Two bedrooms obviously isn’t enough in a family area, so they’ll make it a larger home.”
With room for a pool and extra rooms, Ms O’Dea said there’s a lot of potential for the new owners to expand the character house into a family home.
“It was a great result,” she said of the final outcome.
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