타워 기록 갱신, '부모 은행'이 경매 낙찰자를 돕다

An ageing apartment in an old tower on the Brisbane River smashed its building record, selling for $1.44 million during weekend real estate auctions in Brisbane.

An ageing two-bedroom apartment in an old tower on the Brisbane River has smashed its building record, selling for $1.44 million under the hammer as the city’s unit market continues to defy a broader market slowdown.

The roughly 40-year-old apartment at 59/24 Dunmore Terrace in Auchenflower last sold for $600,000 a decade ago, but on Saturday it toppled the Coronation Towers record – only eight weeks after it was last set.

Snapped up by a young man with the help of his parents, the 159-square-metre unit boasts sweeping river views from its 11th-floor position and features a large balcony and two bathrooms – all within a resort-style complex with a sauna, tennis court and pool.

Four bidders battled for the keys in front of a lively crowd after a bid of $1.1 million kickstarted the auction.

Strong early momentum pushed the price to $1.35 million before bidding stalled, sparking a quick negotiation and a vendor bid of $1.4 million. The tactic sparked a renewed flurry of smaller rises until the home was called on the market and sold.

“It was a bit of a roller-coaster of an auction … we had three owner-occupiers and one investor bidding. But it was a family that won it,” said selling agent Andrew Degn, of Place West.

“The son signed the contract, so it was certainly a case of being supported by the ‘bank of mum and dad’, which is what we’re seeing at so many of our auctions now.”

Degn, who originally sold the home to the vendors in 2013, said they were thrilled with the result, adding that buyer appetite for units remained red-hot.

“People are making decisions based on price and what they’re seeing. And they’re realising if they don’t get a place now, it will cost them another $10,000 next week,” he said.

The Auchenflower unit was one of 184 auctions scheduled auctions across South East Queensland. By Saturday evening, Domain recorded a preliminary clearance rate of 34 per cent from 123 reported results, with 24 homes withdrawn.

Further up the river in Ascot, a postwar cottage fetched $2.5 million, selling to a local family planning to bulldoze the house and replace it with a duplex.

The four-bedroom, three-bathroom home at 35 Charlton Street sits on a 607-square-metre block and has been held by the same family for more than 20 years – marking a near 330 per cent gain from its $570,000 purchase price in 2002.

Selling agent Oliver Jonker, of Coronis Ascot, said the result exceeded expectations.

“Given this is now the entry level in Ascot, it was a good price,” he said.

“But you could knock that house over and spend $3 million on the build and still not overcapitalise here.

“People are still willing to pay a premium and there’s confidence in the market.”

In Macgregor, a five-bedroom brick and tile home smashed the street record by almost $350,000 after a young family paid $2.131 million to secure it.

Perched on an 818-square-metre block at 528 Mains Road, the double-storey house had remained in the same family for almost 20 years.

Three registered bidders attended the auction, with two going head-to-head after an opening bid of $1.5 million. The price jumped quickly to $1.8 million, followed by a flurry of smaller rises to $2 million, before the pair duelled in even tighter increments until the hammer fell.

Selling agent Peter Florentzos, of LJ Hooker Property Partners, said it was a tightly fought battle between locals.

“For both of them, this home was all about the location. From that street there’s just three sets of traffic lights to the city and once you’re on the freeway, and with no traffic, you can be there in 10 minutes,” he said.

Florentzos said the strong result was underpinned by a lack of stock, though broader market confidence had softened.

“Real estate agents will probably have to start working for a living now – the market has definitely come off a little bit,” he said.

AMP chief economist Shane Oliver said the weekend’s clearance rate pointed to weakening buyer sentiment, with years of strong gains and declining affordability weighing on the market.

“In some price points Brisbane is less competitive than Sydney now … so you’ve got the affordability issue operating in the background and then three rate hikes and warnings of more to come and then the impact from the war,” he said.

“We’ve also seen some loss in momentum in price growth in Brisbane.”

Oliver added that the unit market continued to buck the trend, with over 6 per cent unit price growth collected over the past quarter.

“We’re moving into an environment where units are doing better than houses.”

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