A large, luxury apartment in the West End neighbourhood fetched an impressive $3.25 million at auction, showing strong demand from local families for high-end homes.
West End Unit Sets High Mark
The sale of the three-bedroom apartment at 40/37 Duncan Street was one of Brisbane’s top auction results during the past week. Intense bidding started between six registered local buyers, quickly jumping from $1.5 million to $3 million. Two bidders then fought for the final $250,000, pushing the price above the owner’s reserve figure after just six minutes.
The 12-year-old apartment offered wide views towards Mount Coot-tha, a large 292-square-metre floor plan, three bathrooms, a media room, and a hard-to-find four-car garage. Its high sale price stands out in West End, a suburb where very expensive unit sales have been less common than house sales. Residents in the ‘Flow’ complex also have access to shared facilities like a heated pool, private cinema, gym, and garden meeting room.
Selling agent Luke O’Kelly, from Ray White, stated that the result shows how buyer interest has changed in the area. He explained that in recent years, local people buying homes to live in are now the main drivers of sales, unlike a few years ago when investors or buyers from interstate or overseas were more common.
Mr O’Kelly suggested the West End is becoming more popular, partly because its unit prices are generally lower than in nearby expensive areas. He noted that West End’s median unit price reached $723,500 last year, a rise of 13.9 per cent, but this is still much less than the $1,022,500 median in neighbouring Highgate Hill. During the sales campaign, the apartment attracted 60 groups for inspections. The sellers, who lived there for eight years, were reportedly very happy and are now building a new home.
Other Notable Sales
It was a busy week for auctions across Brisbane, with 104 scheduled. In Graceville, a classic Queenslander house at 35 Randolph Street sold for $2.5 million. The century-old, four-bedroom home had been carefully restored by the owners over 24 years. Agent Jiggs Long, also from Ray White, described how a large $500,000 bid early in the auction quickly reduced the number of active bidders from six down to three.
He said the final buyer, a resident from nearby Chelmer looking for a larger home, secured the property right on the reserve price. The sellers were reportedly emotional, as the sale happened after the husband retired.
The highest price achieved across Brisbane for the week was in Camp Hill. A newly built, five-bedroom home at 10 Janette Street sold for $3.831 million. Despite wet weather, over 200 people watched the auction. The custom-built house, featuring French oak floors, special plaster walls, and a magnesium pool, had two registered bidders.
Bidding started at $3.5 million and climbed steadily. According to selling agent Denis Najzar of Place, the home’s excellent presentation and design attracted buyers. The successful buyers were a local family that had been searching for a new home for twelve months.
Market Observations
By Saturday evening, Domain Group reported a preliminary auction clearance rate of 38 per cent from the 73 results collected, with 13 properties withdrawn from auction before selling. Withdrawn auctions are counted as unsold when calculating the clearance rate.
Place auctioneer Peter Burgin commented that buyer confidence appeared strong for good quality properties, noting the market hadn’t slowed down as much as some expected due to a recent election. He added that Camp Hill remains one of Brisbane’s strongest housing markets.
However, AMP chief economist Shane Oliver cautioned at the time. He suggested that uncertainty around global trade, particularly tariffs, and talk of recession risks might make some buyers hesitant. He also indicated that another cut in interest rates is likely, which could help buyers.
Published Date 18-April-2025
