Young buyer stuns auction crowd with $3.4 million bid on Brisbane home – realestate.com.au

A first-home buyer paid a whopping $3.377 million for a house in a Brisbane suburb, beating 18 other bidders who vied for the low-rise property that sold for almost $500,000 above the reserve price.

The buyer, in his 20s, stunned an auction crowd of almost 200 people when he made his final winning bid, just under the suburb’s record price, for the five-bedroom house at 6 Turnberry Pl, Carindale.

The house on a 1,103 m2 plot bordering a park was auctioned after a five-week campaign, during which 191 groups inspected the property.

Bidding started at $2.3 million and progressed quickly as multiple parties were active.

19 bidders have registered for the auction

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The property was put on the market for $3,025,000, confirming a sale and intensifying the competition. Mr Torres said the sellers’ minimum price had previously been set at $2.9 million.

Torres Property sales agents Will Torres and Damian Cochrane said the result underlined demand for quality family homes and signaled a shifting buyer profile at the top end of Brisbane’s eastern suburbs.

Mr Cochrane said the buyer “appeared remarkably youthful among the crowd”.

“[He] looked incredibly young to be competing at this level,” Mr Cochrane said.

“Securing a $3.377 million home as your first purchase in your twenties speaks to a new wave of confident, decisive buyers in Brisbane’s suburban market.”

Property features include a swimming pool and an outdoor entertainment area

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Mr Torres said the young buyer “remained composed in the face of experienced competition” and was accompanied by his father, who was believed to have contributed “generational wealth” to the major purchase.

“He was a student who looked like he was 19 years old, he was very incognito with his sunglasses on and talking to his father in Mandarin and then shouting out the numbers,” Torres said.

“He stood his ground when the bidding increments became smaller and the pressure increased.

“They had occasionally looked for a property that was flat, large and all on one level, but had only seen this house that day.”

The kitchen had marble countertops

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Mr. Torres said the sellers felt like they had “just won the lottery” and were downsizing to a city apartment after paying off the mortgage on their home of nearly 15 years.

The brick home was built in 1995 and renovated about a decade ago, including a marble kitchen, swimming pool and outdoor living area, as well as a dedicated study and a three-car garage.

The sale price was much higher than the Carindale median home price of $1.775 million, and close to the 2023 suburban housing record of $3.8 million.

Elsewhere, Ray White’s best weekend result was 86 Keona Rd, McDowall, which sold to a developer for $4.35 million after an emotional auction with 13 registered bidders and 70 people in attendance.

The Carindale house had five bedrooms and three bathrooms on one floor

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Place Estate Agents’ The Day also delivered strong results, led by Sunnybank Hills, where 99 Lynelle St attracted approximately 15 registered bidders and 43 bids and sold for $2.901 million following a quick duel between a local owner-occupier and an investor.

Nearby, 8 Pearfrost St sold for $2.188 million after extensive negotiations and approximately 15 bids from six registered bidders.

Old houses attracted stiff competition, including 16 Lechmere St, New Farm ($3.043 million) and 10/24-26 Rossiter Pde, Hamilton ($1.045 million).

Local auctioneer Mark Frater said fewer listings and share-backed upgraders were creating serious competition among established family suburbs.