$5 million New Farm, Brisbane apartment sale tops weekend auction results

Ray White’s auction secured a $5.025m for a Moray St, New Farm apartment

$5 million New Farm, Brisbane apartment sale tops weekend auction results
$5 million New Farm, Brisbane apartment sale tops weekend auction results

A $5.025m New Farm apartment sale topped weekend apartment results.

It was a dress circle Moray St, New Farm apartment. 

The 339sqm four bedroom, two bathroom apartment at 4/29 Moray Street, New Farm sold through Ray White New Farm agents Matt Lancashire and Patrick Goldsworthy. 

Its view spans the length of the Story Bridge, from Kangaroo Point to Fortitude Valley. 

It was one of five tightly held whole floor apartments in the 2004 L'stage complex which won the HIA's apartment complex of the year.

The agency also put another New Farm, Brisbane apartment but failed to find a buyer.

The bidding stopped at just over $7m when auctioned through Ray White on Friday. 

The two-storey Brisbane penthouse at 11/170 Bowen Tce was passed in at $7.25m, well below advised expectations of a $10m sale. 

It cost $3.6m off-the-plan in 2013. 

CoreLogic calculated there were 359 apartment and townhouse auction listings over the weekend.

There was a national 61 percent auction clearance rate from the 279 results.

Just on 100 had been sold before auction given lockdown circumstances in the major capitals.

Sydney was the strongest market with 83 percent success rate with Brisbane at 43 percent and Melbourne on 30 percent.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Comments

Be the first one to comment on this article
What would you like to say about this project?