….Later on Saturday in tiny and family-oriented Kalinga, another family home was the subject of competitive bidding.
The auction kicked off with a low bid of $500,000 for the four bedroom home at 46 Bertha Street, but it quickly went up to $1 million with about two dozen bids.
After a brief pause, the home was placed on the market and sold for $1,049,000 shortly after.
Auctioneer David Treloar said the competition proved the popularity of small, exclusive and family-oriented suburbs.
“A clear barometer of the market is how many registered bidders there are prepared to enter into unconditional contracts at the market price,” he said.
“With seven registered bidders and 80 groups through, and with a bit of competition we were able to push it higher than pre auction offers and the seller’s expectations.”
Kalinga’s streets were lined with high-quality homes, and Mr Treloar said that also drove up prices.
“It’s an exclusive little pocket now, it’s really becoming a really desirable location,” he said. “It’s an area where you can drive down and see the continual money being invested in the homes. It’s a really house proud and small little pocket.”
For the full and original article please visit: https://www.domain.com.au/news/family-homes-in-brisbanes-smallest-and-most-exclusive-suburbs-inspire-bidders-to-go-big-20180224-h0wl7a/
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