Man buys $4.9M childhood home after nearly pulling out morning of auction
Brisbane buyer paid $4.9 million for 1920s Queenslander he dreamed of as a child, but almost withdrew hours before the auction.
A Brisbane man reclaimed his childhood dream by paying $4.9 million for the 1920s Queenslander on Watson Street, Newmarket, that sat across the road from his home growing up. The buyer nearly cancelled hours before the auction.
The six-bedroom home sits on Windsor Hill with sweeping city views, a wine cellar, and teenagers' wing. Bidding opened at $4 million with four locals competing in $100,000 rises until $4.6 million, where negotiations stalled for about 30 minutes before the purchase went through.
The property sold for $2.6 million in 2009. Brisbane's auction clearance rate dropped to 23 per cent last week, down sharply from 68 per cent a year ago.
- $4.9 million
- Sale price
- $2.6 million in 2009
- Previous sale
- 1124 square metres
- Land size
- 23 percent
- Market clearance
Why it mattersThe sharp fall in clearance rates signals buyer caution as rate rises bite, though trophy homes still attract bidders.
AustraliaBrisbane's weak property market reflects interest rate pressure across Australia, with only 23% of auctions clearing compared to previous years.
✓ Claims checked against the source. checked 1 h ago
