The pair paid A$675,000 for a waterfront-area house needing major work after they happened to walk past the sale with their dog, Denis.
A retired couple bought a run-down house in Clontarf, near Brisbane, after stopping at its auction while walking past with their dog, Denis the Menace. They had earlier inspected the four-bedroom property and said they were not interested, but later registered to bid and beat three other bidders with a A$675,000 offer.
Bidding opened at A$200,000. All four registered bidders were active up to A$500,000, then stopped. The agent called a vendor bid of A$600,000 and urged the group to keep bidding. The eventual buyers raised the offer to A$650,000 before the sale was settled at A$675,000.
The house has two bathrooms and sits on a 594-square-metre block a short distance from the water. The couple plans a substantial renovation before giving it to their daughter. Selling agent Jesse James estimated the work could cost about A$250,000 and said the house may need to be stripped back close to its frame.
Only 13 groups attended inspections over three weeks, although four bidders registered for auction day. James said that turnout was a positive in a difficult market, where buyer caution and the gap between seller and buyer expectations are making sales harder. The report also linked pressure on buyers to the Reserve Bank of Australia’s cash-rate rise to 4.6%, its highest level since 2011.
The Clontarf sale was one of 145 auctions scheduled across South East Queensland that week. Domain recorded a preliminary clearance rate of 22% from 102 reported results, with 12 properties withdrawn. Yet a newly built five-bedroom home in Windsor sold for A$3.7 million, showing that well-finished properties could still attract strong bidding.