A new luxury home in Norman Park was literally packed to the brim with onlookers, at a stunning auction that saw the house sell for more than $4 million.
The five-bedroom, three-bathroom house at 26 Overend St had previously been included in the Courier Mail’s ‘Best Homes’ column. The property was bought more than two years ago, and had since been entirely transformed in a complete overhaul, with only some of the original home’s facade still visible.
26 Overend St, Norman Park
More than 70 people filled the house as the auction began on Saturday morning, packing the balcony and lower level while bidding began.
But despite the large crowd, there were only a select few who could actually afford it: three registered bidders, with two actively competing.
Place Bulimba agent Darcy Lord said the bidding was “fairly fast-paced”, starting at an offer of $3.6 million.
In Norman Park, the median house price is $1,432,500, meaning the first bid already beat the median by more than $2 million.
After an offer of $3.91 million, one bidder was taken in to negotiate with the vendors for thirty minutes. When they emerged, they had reached an agreement, and the home sold for $4.125 million.
More than 70 people are visible in this shot alone, completely packing the deluxe house as it was auctioned off.
Mr Lord said the vendors were incredibly happy with the sale, and said the entire campaign had been a very positive process.
“[They said] it’s one of the best campaigns they’ve ever experienced,” he said. “It’s gone beyond what they thought they could possibly do for it, and they absolutely loved it.”
Vendor Adam Philps said when he bought the home, he wanted to make a premium house that would not just look good, but be suitable for a family.
“There’s luxury homes out there everywhere, but the family bit seems to just get a bit lost in there,” he said. “We were trying to make something that was genuinely a family home.”
The home was sold to a family of two parents and two kids, moving from Auckland and with friends in the nearby area.
The home was built to balance a luxury lifestyle and convenient family living, and sold to a nuclear family from Auckland.
The home was the eleventh most-viewed home going to auction this weekend across all of Australia, according to PropTrack’s latest property preview report.
PropTrack data showed a steady rise in scheduled auctions for Queensland this week, compared to this time last year. The whole state had a total of 337 auctions, a 25 per cent rise from auctions in 2023.
Brisbane’s 188 scheduled auctions represented a 46 per cent year-on-year rise, while Regional Queensland had a six per cent rise at 149 auctions.
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