Panoramic views, casino downstairs: City apartment sells at auction for $3.43m
A Queens Wharf apartment sold for $3.43 million after a competitive auction battle.Summary
A three-bedroom apartment at 5108/8 Margaret Street in Diamond Residences sold for $3.43 million at auction on Thursday night. The sale, which set the highest result in south-east Queensland last week, was won by a local family who outbid a phone bidder and another local. The property, which had been listed for six months, features 152 square metres of living space and city views. The vendors paid $2.89 million for the home in 2021, marking a $540,000 price rise in five years. The sale comes as Brisbane's auction market shows signs of uncertainty, with a preliminary clearance rate of 16 per cent recorded last week. Despite this, sales are still occurring, with buyers adjusting prices to meet market conditions. In other areas, an interstate migrant paid $1.485 million for a brick lowset home in Parkinson, and a two-bedroom unit in Fortitude Valley sold to an investor for $880,000, delivering a $220,000 profit in two years.
(Source：The Sydney Morning Herald)