A home just 75m away from the Brisbane River has blown away expectations at a competitive auction, after having been off the market for decades.
The house at 178 Barton Rd, Hawthorne, was placed on the market for the first time in 83 years, with the same family having lived there all that time.
The two-storey home has three bedrooms and two bathrooms, sitting on a long 817 sqm stretch of property in a high-value location.
178 Barton Rd, Hawthorne, just sold for millions after being off the market for 83 years.
Belle Property Bulimba agents Tony O’Doherty and Kaylee saw the house go to auction on Saturday morning, with dozens arriving to watch as ten registered bidders signed up to shoot their shot.
Mr O’Doherty described it as a “very competitive auction”, with six bidders actively competing after a starting offer of $2.2 million.
This meant bidding began already well over Hawthorne’s median price of $2,087,500.
Bidding stalled for a moment at $2.61 million, before resuming with three bidders remaining, right until the final bid – which won by a raise of around $10,000.
After more than thirty bids, the home finally sold for $2.78 million, well over the reserve price the owners had expected.
The home is less than a hundred metres from the Brisbane River, making the 817 sqm property a rare patch of land.
Auctioneer Justin Nickerson of Apollo Auctions resided over the event, which had ten registered bidders and dozens of attendees.
Mr O’Doherty said while the family selling the home was happy with the sale, “it’d be naive to think there weren’t emotions involved” with parting with their long-time family gathering place.
The home has now gone to a young couple in their 30s, who work in the fitness industry.
The two plan to use it as a long-term family home, looking to put the home through a massive renovation when they feel ready to upgrade it.
The auction happened an hour after another sale from Belle Property Bulimba: a four-bedroom, three-bathroom home at 39 Dover St, Hawthorne, which sold for $1.691 million.
Mr O’Doherty said both sales made for a very successful auction morning on this busy weekend.
“Both sold over the reserve,” he said. “Very competitive, good sign of the market.”
The sale came just an hour after Belle Property Bulimba sold 39 Dover St in the same suburb, for $1.691 million.
PropTrack’s latest property preview report has shown a huge week for auctions across the nation, with 371 scheduled for Queensland alone.
This represents a 24 per cent increase from scheduled auctions this time in 2023.
While regional Queensland has seen a 7 per cent decline since last year at 134 auctions, Brisbane’s 237 scheduled auctions amount to a 53 per cent increase compared to last year.
Mr O’Doherty said Spring season was a peak time for sales, and more homes are encouraged to sell the more they see success across the market.
“There’s a lot of positive movement in the market,” he said. “Stock creates stock, lack of stock creates lack of stock.”
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