A six-bedroom Calamvale home has sold under the hammer for $1.85 million after eight registered bidders fought through 20 bids, with the auction ending in a tense head-to-head battle between two families trading $10,000 bids until the hammer fell.
The auction at 29 Aster Place, Calamvale opened at $1.5 million before climbing another $350,000, highlighting the demand that still exists for exceptional family homes despite a change in market following the Federal Budget.
More than 50 people gathered to watch the auction, before one local family secured the keys unconditionally.
Place Forest Lake agent Stephanie Tran said the result exceeded expectations in the current market.
"Six months ago, I believe this property would have achieved an even higher price, but we're now seeing buyers become much more cautious after the Federal Budget. To achieve $1.85 million at is an outstanding result for Calamvale."
"We had three offers before auction, all around $1.65 million, but the competitive auction environment delivered a significantly better outcome for our sellers."
Stephanie said the campaign focused heavily on marketing.
"We worked every angle. Social media, our database, constant follow-up with buyers and encouraging neighbours to attend all helped create a fantastic atmosphere on auction day."
"The home itself ticked every box. It's a premium six-bedroom residence with exceptional finishes in a highly convenient location close to schools, shops and transport. Large family homes like this continue to attract strong demand."
Place auctioneer Glenn Bool said the auction demonstrated the power of competition.
"Once we reached $1.8 million it became a genuine two-horse race. The bidding slowed to $10,000 rises between two determined families, and that's often where experience really matters."
"Creating confidence and keeping both buyers engaged ultimately helped push the sale beyond the pre-auction offers. That's exactly what competitive auctions are designed to do."
The sale is another sign that while buyers are becoming more price-sensitive, premium homes continue to attract strong competition when they are marketed effectively and taken to auction.