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})(window,document,"script","//bat.bing.com/bat.js","uetq");</script><script data-rh="true" type="application/ld+json">{"@context":"http://schema.org","@type":"NewsArticle","author":{"@type":"Person","name":"Sarah Webb"},"dateModified":"2024-11-18T05:06:06+00:00","datePublished":"2024-11-18T05:06:06+00:00","description":"The buyers made sure the Indooroopilly house had a price containing plenty of figure 8s - the luckiest number in Chinese culture.","headline":"Family bags trophy home for $3,888,888 the night before 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data-testid="category"><a title="News" href="/property/news">News</a></li><li class="_1pMb9" data-testid="tag-name"><a title="Queensland residential property" href="/topic/queensland-residential-property-hvz">Queensland residential property</a></li></ul><script type="application/ld+json">{"@context":"http://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https://www.brisbanetimes.com.au/property","name":"Property"}},{"@type":"ListItem","position":2,"item":{"@id":"https://www.brisbanetimes.com.au/property/news","name":"News"}},{"@type":"ListItem","position":3,"item":{"@id":"https://www.brisbanetimes.com.au/topic/queensland-residential-property-hvz","name":"Queensland residential property"}}]}</script></div><h1 data-testid="headline" itemProp="headline">Family bags trophy home for $3,888,888 the night before auction</h1></div></div></header><section class="_3OhA4"><div class="_2h56q"><div class="_3J1te"><h5 class="_3-xPQ"><span class="_3pGt1">By </span><span><span data-testid="byline"><a href="/by/sarah-webb-p5372a" title="Articles by Sarah Webb">Sarah Webb</a></span></span></h5><div class="_3xKNx"><span class="_1IjU5">Updated</span> <span class="_2xetH"><time class="_2_zR-" data-testid="datetime" dateTime="2024-11-18T15:06:06+10:00">November 18, 2024 — 3.06pm</time></span><span class="_2tV7D" hidden="">first published <!-- -->at <time class="_2_zR-" data-testid="datetime" dateTime="2024-11-18T10:57:54+10:00">10.57am</time></span></div></div></div><div class="_2CSKo noPrint"><div class="_1KqZ_"><div class="hLTvJ"><button aria-checked="false" aria-describedby="saveTooltip" aria-label="Save article to read later" class="_31ZN0" role="switch" type="button"><svg aria-hidden="true" class="QMY9O _11R7m" focusable="false" height="1em" width="1em"><use xlink:href="#icon-save"></use></svg><span class="_3-fU6">Save</span></button><div aria-hidden="true" class="_1lwFz uXbxr" id="saveTooltip" role="tooltip"><button>Log in</button>,<!-- --> <a data-testid="login-register" href="https://brisbanetimes.myfairfax.com.au/channel/7SMsQ6jjgIqPyo9XFzdzWg/members/signups/new?callback_uri=">register</a> <!-- -->or <a href="https://subscribe.brisbanetimes.com.au/?promote_channel=HI_HL_GNL">subscribe</a> <!-- -->to save articles for later.</div><div><div aria-hidden="true" class="_1lwFz WUf_a _1pHo1" id="onboardingTooltip" role="tooltip"><h3>Save articles for later</h3><p>Add articles to your saved list and come back to them any time.</p><button class="_2YSi8 _17BTN _3_hLE" data-ffx-event-action="cta click" data-ffx-event-category="save onboarding" data-ffx-event-label="got it - part 1" data-ffx-hittype="event">Got it</button></div></div></div><div class="_2Cn91"><div class="_2KkCz"><button class="_30X7v _2-NUy" data-ffx-event-action="cta click" data-ffx-event-category="component" data-ffx-event-label="font size normal" data-ffx-event-value="0" data-ffx-hittype="event">Normal text size</button><button class="_3Rq_0" data-ffx-event-action="cta click" data-ffx-event-category="component" data-ffx-event-label="font size large" data-ffx-event-value="0" data-ffx-hittype="event">Larger text size</button><button class="_3VkdU" data-ffx-event-action="cta click" data-ffx-event-category="component" data-ffx-event-label="font size extra large" data-ffx-event-value="0" data-ffx-hittype="event">Very large text size</button></div></div></div></div></section><section class="_1Rw6X" data-testid="article-body-top"><aside class="_2GZaf"><div class="vnWOX"><header><h2>Property listings</h2></header><div id="dg-recommended-listings"></div></div><div class="_1q-_I _3sCHz"><div class="container"><div class="adWrapper _2UMq- noPrint" data-testid="ad"><small class="_3ToRr">Advertisement</small><div class="" id="adspot-160x600_300x250_300x600-pos2-desktop"></div></div></div></div></aside><div class="_1ysFk" data-testid="article-body"><div><div class="_5JLqO"><div class="_1Ld7U" id="beyondwords-player"></div><div class="_3Fhwk" data-testid="showPlayerOverlay"></div></div><div class="_1665V _2q-Vk" data-testid="body-content"><p>A two-bedroom cottage rocking shagpile carpet chic and ’70s time-warp vibes sold for $1.115 million at a fiery auction in Albion on Saturday – proving one owner’s trash can be another investor’s treasure.</p><p>The retro relic, at 31 Lucy Street, had remained in the same family for 60 years but the decades didn’t inspire a flicker of sentimentality for the vendors.</p><p>“The wife hated the property,” selling agent Ashley Robinson of Ray White said.</p><p>“She wanted to get rid of it ever since they bought it, so it wasn’t an emotional one for her at all.”</p></div><div class="_1lC_G"></div><div class="_1665V _2q-Vk" data-testid="body-content"><p>The crumbling cottage is one of a handful of original cottages left in the suburb and one of just six properties to sell in the street in the past decade. It sits on a 529 square metre block that’s 200 metres from Fonzie Abbott cafe, Hoppers Brewing and Crosby Park.</p><p>Robinson said nine registered bidders, of which five were active, battled for the keys.</p><figure class="_3ujPS _3g3zI _4vIBa _2XZQH" data-testid="image"><div aria-label="enlarge image" class="_1lwW_" role="button" tabindex="0"><picture class=""><source media="(min-width: 1024px)" srcSet="https://static.ffx.io/images/$zoom_0.654%2C$multiply_0.6988%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_111/t_crop_custom/q_86%2Cf_auto/0368bf3d0819d0d9fb3f6bf2ead1a23d3f69f7a6, https://static.ffx.io/images/$zoom_0.654%2C$multiply_1.3975%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_111/t_crop_custom/q_62%2Cf_auto/0368bf3d0819d0d9fb3f6bf2ead1a23d3f69f7a6 2x" height="417" width="740"/><source media="(min-width: 768px)" srcSet="https://static.ffx.io/images/$zoom_0.654%2C$multiply_0.7252%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_111/t_crop_custom/q_86%2Cf_auto/0368bf3d0819d0d9fb3f6bf2ead1a23d3f69f7a6, https://static.ffx.io/images/$zoom_0.654%2C$multiply_1.4504%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_111/t_crop_custom/q_62%2Cf_auto/0368bf3d0819d0d9fb3f6bf2ead1a23d3f69f7a6 2x" height="433" width="768"/><img alt="The cottage is one of a handful of original cottages left in Albion." src="https://static.ffx.io/images/$zoom_0.654%2C$multiply_0.5855%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_111/t_crop_custom/q_86%2Cf_auto/0368bf3d0819d0d9fb3f6bf2ead1a23d3f69f7a6" height="349" width="620" srcSet="https://static.ffx.io/images/$zoom_0.654%2C$multiply_0.5855%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_111/t_crop_custom/q_86%2Cf_auto/0368bf3d0819d0d9fb3f6bf2ead1a23d3f69f7a6, https://static.ffx.io/images/$zoom_0.654%2C$multiply_1.1709%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_111/t_crop_custom/q_62%2Cf_auto/0368bf3d0819d0d9fb3f6bf2ead1a23d3f69f7a6 2x"/></picture></div><figcaption class="_3CZmy"><p><span class="_2Li3P">The cottage is one of a handful of original cottages left in Albion.</span><cite class="ojLwA"><span class="_30ROC">Credit: </span>Domain</cite></p></figcaption></figure><p>Bidding opened at $1.05 million, climbing in $5000 and $1000 leaps until it hit the $1.1 million reserve. By then, two punters had bowed out. An investor, bidding via a friend onsite while overseas, ultimately won for his family trust.</p><p>The home was one of 193 scheduled auctions in Brisbane over the past week.</p></div></div></div></section><div class="_1FVfK"><div class="container"><div class="adWrapper _2UMq- noPrint" data-testid="ad"><small class="_3ToRr">Advertisement</small><div class="" id="adspot-728x90_970x250-pos99-desktop"></div></div></div></div><section class="vPaWe" data-testid="article-body-bottom"><div class="_1ysFk"><div><div class="_1665V _2q-Vk" data-testid="body-content"><p>By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 38 per cent from 116 reported results, while 15 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.</p><p>In Indooroopilly, a trophy home with a $1.2 million renovation sold for $3,888,888 on Friday in a pre-auction deal the night before it was due to go under hammer.</p><p>A family from China snapped up the five-bedroom, three-bathroom home at 29 Glencairn Avenue – paying a premium to be close to St Peters Lutheran College and for a price steeped in good fortune.</p><p>It was the highest auction result across the south-east in the past week, showcasing the strength of Brisbane’s firing prestige market.</p></div><div class="_1lC_G"></div><div class="_1665V _2q-Vk" data-testid="body-content"><p>Selling agent Matt O’Neill, of Place Estate Agents, said the vendors – a Singapore-based family – had purchased the home over the phone in 2021 for $2.3 million.</p><p>“They planned to stay there long term, but life happened and they decided to put it on the market,” he said. “That’s why the quality of the renovation was so high.”</p><figure class="_3ujPS _3g3zI _4vIBa _2XZQH" data-testid="image"><div aria-label="enlarge image" class="_1lwW_" role="button" tabindex="0"><picture class=""><source media="(min-width: 1024px)" srcSet="https://static.ffx.io/images/$zoom_0.654%2C$multiply_0.6988%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_97/t_crop_custom/q_86%2Cf_auto/fa420bab29a6bb40c7d5937ae4cbccb738b1095e, https://static.ffx.io/images/$zoom_0.654%2C$multiply_1.3975%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_97/t_crop_custom/q_62%2Cf_auto/fa420bab29a6bb40c7d5937ae4cbccb738b1095e 2x" height="417" width="740"/><source media="(min-width: 768px)" srcSet="https://static.ffx.io/images/$zoom_0.654%2C$multiply_0.7252%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_97/t_crop_custom/q_86%2Cf_auto/fa420bab29a6bb40c7d5937ae4cbccb738b1095e, https://static.ffx.io/images/$zoom_0.654%2C$multiply_1.4504%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_97/t_crop_custom/q_62%2Cf_auto/fa420bab29a6bb40c7d5937ae4cbccb738b1095e 2x" height="433" width="768"/><img alt="A family paid a premium to be close to St Peters Lutheran College." loading="lazy" src="https://static.ffx.io/images/$zoom_0.654%2C$multiply_0.5855%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_97/t_crop_custom/q_86%2Cf_auto/fa420bab29a6bb40c7d5937ae4cbccb738b1095e" height="349" width="620" srcSet="https://static.ffx.io/images/$zoom_0.654%2C$multiply_0.5855%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_97/t_crop_custom/q_86%2Cf_auto/fa420bab29a6bb40c7d5937ae4cbccb738b1095e, https://static.ffx.io/images/$zoom_0.654%2C$multiply_1.1709%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_97/t_crop_custom/q_62%2Cf_auto/fa420bab29a6bb40c7d5937ae4cbccb738b1095e 2x"/></picture></div><figcaption class="_3CZmy"><p><span class="_2Li3P">A family paid a premium to be close to St Peters Lutheran College.</span><cite class="ojLwA"><span class="_30ROC">Credit: </span>Domain</cite></p></figcaption></figure><p>The home, on a 921 square metre block in the suburb’s “golden triangle”, features polished concrete floors, a wine cellar, a three-car garage, and a layout primed for multi-generational living.</p><p>O’Neill said those features and the location proved to be a magnet, with 92 groups inspecting the home.</p></div><div class="_1lC_G"></div><div class="_1665V _2q-Vk" data-testid="body-content"><p>“About 80 per cent of them were Chinese and that’s because it’s close to St Peters, which has a co-curriculum [offering the International Baccalaureate diploma program]. But it’s also in Indooroopilly’s best street.”</p><p>O’Neill said the owners had hoped to fetch $3.9 million, but price feedback from potential bidders in the lead-up was hovering at $3.5 million.</p><p>“We got pretty close to what the owners wanted and it was a great result. For us, the prestige market is performing better than the lower-end market right now, particularly for homes between $2.5 million to $3 million onwards.</p><p>“There seems to be a lot of demand for that market – particularly among Chinese buyers. If I had another 10 of those homes I would have sold them overnight.”</p><p>In Acacia Ridge, an investor from Tarragindi outmuscled six other bidders for a renovated three-bedroom home on a 607 square metre block – paying a record-breaking $890,000.</p></div><div class="_1lC_G"></div><div class="_1665V _2q-Vk" data-testid="body-content"><p>The property, at 33 Highbury Street, had a reserve of $850,000 and last sold in 2017 for $325,000.</p><p>Selling agent Bevin Powell, of Ray White, said the vendor was a carpenter who had turned the postwar home into a modern property with a landscaped yard, hardwood floors, a deck and a covered entertainment area with a firepit.</p><p>“This is a record price for a three-bedroom house in Acacia Ridge. The suburb has seen a lot of price growth over the past year and it’s an up-and-coming area.”</p><p>Ray White chief economist Nerida Conisbee said the Queensland capital’s market remained strong, even if bidding numbers had dropped.</p></div><div class="_1lC_G"></div><div class="_1665V _2q-Vk" data-testid="body-content"><p>“It’s still up compared to last year and while things seem to be slowing, price growth is strong. We’re just not seeing the same heat,” she said.</p><figure class="_3ujPS _3g3zI _4vIBa _2XZQH" data-testid="image"><div aria-label="enlarge image" class="_1lwW_" role="button" tabindex="0"><picture class=""><source media="(min-width: 1024px)" srcSet="https://static.ffx.io/images/$zoom_0.662%2C$multiply_0.6988%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_110/t_crop_custom/q_86%2Cf_auto/c84cbe6f7bd9bd903b96e5a49271973f0595e1d8, https://static.ffx.io/images/$zoom_0.662%2C$multiply_1.3975%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_110/t_crop_custom/q_62%2Cf_auto/c84cbe6f7bd9bd903b96e5a49271973f0595e1d8 2x" height="417" width="740"/><source media="(min-width: 768px)" srcSet="https://static.ffx.io/images/$zoom_0.662%2C$multiply_0.7252%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_110/t_crop_custom/q_86%2Cf_auto/c84cbe6f7bd9bd903b96e5a49271973f0595e1d8, https://static.ffx.io/images/$zoom_0.662%2C$multiply_1.4504%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_110/t_crop_custom/q_62%2Cf_auto/c84cbe6f7bd9bd903b96e5a49271973f0595e1d8 2x" height="433" width="768"/><img alt="The vendor was a carpenter who had turned the postwar home at 33 Highbury Street into a modern property." loading="lazy" src="https://static.ffx.io/images/$zoom_0.662%2C$multiply_0.5855%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_110/t_crop_custom/q_86%2Cf_auto/c84cbe6f7bd9bd903b96e5a49271973f0595e1d8" height="349" width="620" srcSet="https://static.ffx.io/images/$zoom_0.662%2C$multiply_0.5855%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_110/t_crop_custom/q_86%2Cf_auto/c84cbe6f7bd9bd903b96e5a49271973f0595e1d8, https://static.ffx.io/images/$zoom_0.662%2C$multiply_1.1709%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_110/t_crop_custom/q_62%2Cf_auto/c84cbe6f7bd9bd903b96e5a49271973f0595e1d8 2x"/></picture></div><figcaption class="_3CZmy"><p><span class="_2Li3P">The vendor was a carpenter who had turned the postwar home at 33 Highbury Street into a modern property.</span><cite class="ojLwA"><span class="_30ROC">Credit: </span>Domain</cite></p></figcaption></figure><p>“There are still good sales taking place and our clearance rate is currently 65 per cent – this time last year it was in the high 50s. But there are more listings now and that seems to be softening things and creating a two-speed market.”</p><p>Conisbee said the rising listing numbers were likely fuelled by mortgage strain and strong selling conditions.</p><p><b><i>Get alerts on significant breaking news as happens. </i></b><b><i><a href="https://www.smh.com.au/newsletter-signup/?newsletter=breaking-news&utm_source=EditorialArticle&utm_medium=ArticleText&utm_campaign=Newsletters" rel="noopener" target="_blank">Sign up for our Breaking News Alert</a></i></b><b><i>.</i></b></p></div></div><div class="_1OAkC"><h4>correction</h4><div><p>A previous version of this story said the Indooroopilly vendors were Singaporean. 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buyers made sure the Indooroopilly house had a price containing plenty of figure 8s - the luckiest number in Chinese culture.\",\"allowComments\":true,\"body\":\"<p>A two-bedroom cottage rocking shagpile carpet chic and \\u201970s time-warp vibes sold for $1.115 million at a fiery auction in Albion on Saturday \\u2013 proving one owner\\u2019s trash can be another investor\\u2019s treasure.</p><p>The retro relic, at 31 Lucy Street, had remained in the same family for 60 years but the decades didn\\u2019t inspire a flicker of sentimentality for the vendors.</p><p>\\u201CThe wife hated the property,\\u201D selling agent Ashley Robinson of Ray White said.</p><x-placeholder id=\\\"c4f9f100e7b2f50f3cf7de36f9072ac779e9c802\\\"></x-placeholder><p>\\u201CShe wanted to get rid of it ever since they bought it, so it wasn\\u2019t an emotional one for her at all.\\u201D</p><p>The crumbling cottage is one of a handful of original cottages left in the suburb and one of just six properties to sell in 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It sits on a 529 square metre block that\\u2019s 200 metres from Fonzie Abbott cafe, Hoppers Brewing and Crosby Park.</p><p>Robinson said nine registered bidders, of which five were active, battled for the keys.</p><x-placeholder id=\\\"d68a9e67672b8d0f01a51219e1d9bee85a01de0e\\\"></x-placeholder><p>Bidding opened at $1.05 million, climbing in $5000 and $1000 leaps until it hit the $1.1 million reserve. By then, two punters had bowed out. An investor, bidding via a friend onsite while overseas, ultimately won for his family trust.</p><p>The home was one of 193 scheduled auctions in Brisbane over the past week.</p><p>By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 38 per cent from 116 reported results, while 15 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.</p><p>In Indooroopilly, a trophy home with a $1.2 million renovation sold for $3,888,888 on Friday in a pre-auction deal the night before it was due to go under hammer.</p><p>A family from China snapped up the five-bedroom, three-bathroom home at 29 Glencairn Avenue \\u2013 paying a premium to be close to St Peters Lutheran College and for a price steeped in good fortune.</p><x-placeholder id=\\\"71d91c4d27ebaf371d3828862f12368c80d5d889\\\"></x-placeholder><p>It was the highest auction result across the south-east in the past week, showcasing the strength of Brisbane\\u2019s firing prestige market.</p><p>Selling agent Matt O\\u2019Neill, of Place Estate Agents, said the vendors \\u2013 a Singapore-based family \\u2013 had purchased the home over the phone in 2021 for $2.3 million.</p><p>\\u201CThey planned to stay there long term, but life happened and they decided to put it on the market,\\u201D he said. \\u201CThat\\u2019s why the quality of the renovation was so high.\\u201D</p><x-placeholder id=\\\"4fde690632b2f55537e32d278c9d1813c4ba576a\\\"></x-placeholder><p>The home, on a 921 square metre block in the suburb\\u2019s \\u201Cgolden triangle\\u201D, features polished concrete floors, a wine cellar, a three-car garage, and a layout primed for multi-generational living.</p><p>O\\u2019Neill said those features and the location proved to be a magnet, with 92 groups inspecting the home.</p><p>\\u201CAbout 80 per cent of them were Chinese and that\\u2019s because it\\u2019s close to St Peters, which has a co-curriculum [offering the International Baccalaureate diploma program]. But it\\u2019s also in Indooroopilly\\u2019s best street.\\u201D</p><p>O\\u2019Neill said the owners had hoped to fetch $3.9 million, but price feedback from potential bidders in the lead-up was hovering at $3.5 million.</p><p>\\u201CWe got pretty close to what the owners wanted and it was a great result. For us, the prestige market is performing better than the lower-end market right now, particularly for homes between $2.5 million to $3 million onwards.</p><p>\\u201CThere seems to be a lot of demand for that market \\u2013 particularly among Chinese buyers. If I had another 10 of those homes I would have sold them overnight.\\u201D</p><p>In Acacia Ridge, an investor from Tarragindi outmuscled six other bidders for a renovated three-bedroom home on a 607 square metre block \\u2013 paying a record-breaking $890,000.</p><p>The property, at 33 Highbury Street, had a reserve of $850,000 and last sold in 2017 for $325,000.</p><p>Selling agent Bevin Powell, of Ray White, said the vendor was a carpenter who had turned the postwar home into a modern property with a landscaped yard, hardwood floors, a deck and a covered entertainment area with a firepit.</p><x-placeholder id=\\\"afbae8297be894db97b6011a0ffabd3df87678ea\\\"></x-placeholder><p>\\u201CThis is a record price for a three-bedroom house in Acacia Ridge. The suburb has seen a lot of price growth over the past year and it\\u2019s an up-and-coming area.\\u201D</p><p>Ray White chief economist Nerida Conisbee said the Queensland capital\\u2019s market remained strong, even if bidding numbers had dropped.</p><p>\\u201CIt\\u2019s still up compared to last year and while things seem to be slowing, price growth is strong. We\\u2019re just not seeing the same heat,\\u201D she said.</p><x-placeholder id=\\\"833a5c5da08005a787dd0c2e21b6e3a9b75b86dc\\\"></x-placeholder><p>\\u201CThere are still good sales taking place and our clearance rate is currently 65 per cent \\u2013 this time last year it was in the high 50s. 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