A recent auction in the outer-Brisbane suburb of Gumdale has blown the previous record for the postcode out of the water, selling under the hammer for more $5.05 million.
A capacity crowd gathered to watch Wisteria Lodge sell at auction on the last Saturday of March, with the price exceeding the previous sale record for the suburb by $2 million.
About 1000 people inspected the property throughout the four-week campaign leading up to the auction, which was executed by the Evans Properties Team and RE/MAX Results, and security were present on the day to ensure social restrictions were adhered to.
The six-bedroom, Cape Cod-inspired home occupies one hectare of land in the suburb, which is less than 20km from Brisbane’s CBD.
Wisteria Lodge was built on a previously vacant block that RE/MAX Results marketing agent Fraser Evans had sold to the owner of Queensland construction company Groove Property a couple of years ago.
The owner had constructed the residence as a ‘forever home’ for his family, then Mr Evans found him another acreage opportunity in the area and he decided to sell the property.
As a result, one of the most striking residences in the sought-after suburb, which offers some of the closest acreage to the CBD, now has new owners, with the home snapped up by current Brisbane residents.
After receiving well over 100 calls and emails requesting an inspection within hours of the listing going live, Mr Evans said he wasn’t surprised at the attention the property received on auction day – or the outcome itself.
“We realised early in the campaign that the auction day crowd would be huge,” he said.
The open home for Wisteria Lodge broke any record the agent was aware of when more than 300 people attended the property on the first Saturday in March alone.
“The first open home had attracted a record number of inspections,” he said. “The security guards were effective in keeping the event orderly and gave a sense of calm and confidence.”
The Evans Properties Team also took an acreage home at nearby Belmont to auction at 4pm the same day, with sale negotiations being finalised, and Mr Evans said a campaign for another property in the suburb was also attracting plenty of interest.
“We have a one-hectare property at 175 Boston Road, Belmont, which is offered to the market for the first time in more than 36 years, going to auction on 17 April, and the level of inquiry is extremely high,” he said.
“There is a lot of interest in this acreage precinct of just 1000 properties due to its proximity to Brisbane CBD.
“With people’s lifestyle choices and flexibility in work arrangements changing in response to COVID, acreage properties are in high demand.”