A home that last sold for around $500,000 and one that last sold for nearly $2m are both going to auction this Saturday, on opposite sides of the same street.
Gower St in Holland Park West is a small street on the south side of Brisbane, with a median house price of $1.415m.
On one side sits the ritzy 20 Gower St, which sold in 2023 to a family of five for $1.85m.
The family moved to Brisbane for work, but decided to sell their four-bedroom house when work needed them to move interstate once again.
20 Gower St sits on one side of Holland Park West, and last sold in 2023 for $1.85m.
11 Gower St sits on the other side, having last sold in 2019 for $521,000. Both are going to auction on January 31, and are expecting to see a big boost in sale price.
Meanwhile, investors own the house at 11 Gower St: an older and worn-down property, that has been rented out since it was bought for $521,000 in 2019.
While 11 Gower St has been freshly painted and cleaned, both homes are largely the same from when they were last on the market.
But with a market that only continues to rise, Place Camp Hill agent Shane Hicks said each property was expected to see a significant rise in sale price.
“The interest level is over $1m for 11 Gower St,” he said. “Stock levels remain tight, and buyers know quality homes don’t come up often – let alone two in the same street.”
20 Gower St is a pristine family home that has been largely unchanged since it was last used, while 11 Gower St has begun to show its age after years of being rented out.
”It shows the diversity of demand that can exist within a single street.”
Mr Hicks said buyers attracted to 20 Gower St are mainly professional couples with young children. Meanwhile, the pool of interested parties for 11 Gower St range from first homebuyers to investors and people seeking a knockdown rebuild.
“One is an entry-level two-bedroom home, while the other is a large luxury family residence with a swimming pool,” he said. “It shows the diversity of demand that can exist within a single street.”
The auction is part of Place’s regular auction event The Day, which features a wide range of homes going for sale at the same time across Brisbane.
First homebuyers, investors and knockdown rebuilders are interested in 11 Gower St – a much different demographic from the professional families seeking the house across the road.
The auctions are part of Place’s The Day event, capping off January with 17 auctions around Brisbane.
“Activity breeds activity – I liken it to a busy cafe,” Mr Hicks said. “It creates enthusiasm and a bit of hope for buyers, for them to know there’s a lot going on.”
The Day will see 17 different homes go to auction on-site across Brisbane, with one of the scheduled homes having sold prior.
20 Gower St will be going to auction at 8am, January 31, with 11 Gower St following suit at 12pm.
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