A large family home at Mount Gravatt East, purchased for $20,000 by Stephen Hassett’s parents, has sold at auction for $690,000.
It was the first time in 45 years the four-bedroom, highset brick home at 6 Dewsbury St was on the market.
On Saturday afternoon, selling on behalf of his mother, Mr Hassett said the sale of the property would help pay for his mum’s nursing home bond.
Mr Hassett’s father passed away last year and his mother had a fall two months ago leaving the family with no choice but to sell.
“I grew up in this house with my brother, and our family are the second owners of this property,” he said.
“It (the auction) was a really nervous time for me. Now it takes a lot of pressure off everyone knowing mum can go to the nursing home,” Mr Hassett said.
More than 50 people gathered at the front of the 645sq m block, including 16 registered bidders.
The first bid started at $500,000 with auctioneer David Holmes, of Metro Auctions, bidding at $600,000 on behalf of the vendor. More than 20 bids were made during the auction.
Century 21 Coastal Caloundra agent Gavin Duncan said the house sold for a “good price”.
“Everyone’s happy here today,” he smiled.
Earlier in the day, a small crowd braved the winter chill at the auction of 27 Drury St, West End.
The classic character Queenslander sold for $1.08 million in front of around 20 people, eight of whom were registered bidders.
Bidding opened at $880,000 and crept up in $5000 and $10,000 increments until it hit the $1 million mark.
A man bidding on behalf of his brother-in-law attempted to seal the deal with an offer of $1.02 million; he failed at that attempt but eventually secured the property after outbidding four other active parties.
He said trying to outprice the competition by upping the previous bid by $20,000 at $1 million was an unsuccessful tactic.
“It didn’t work,” he laughed.
“It was like, ‘Oh well, what other tricks have I got?’”
Auctioneer David Holmes, who also called the sale of 6 Dewsbury St, said it was a prime example of a knockout bid.
“He had deep pockets and said he wasn’t going away,” Mr Holmes said.
Mr Holmes was initially surprised by the small turnout but it was a matter of quality over quantity in terms of numbers.
“The weather here in Brisbane, we’re not used to it so it probably kept a few buyers away but the buyers who were here were very serious,” he said.
Drakos Real Estate principal Chris Kazonis said the seller, who’s now based in Melbourne, was thrilled with the result.
There was a larger crowd at 11 Todd St, Ashgrove which sold under the hammer for $700,000 after bidding opened at $560,000.
Place Newmarket principal Mario Sultana said eight registered bidders were keen on the two-bedroom, one-bathroom cottage located on a 412sq m block of land and surrounded by bushland.
“We’ve had an overwhelming amount of interest in this Ashgrove home from young couples and families,” he said.
“It’s a blue chip suburb with great amenities in proximity so it’s no wonder it has sold quickly under the hammer.
“It’s been a well-supported campaign by the market and we achieved a great result today.”
The property was purchased by a family with plans to move in and renovate.