Engineer wins $2.1 million auction in Brisbane

An engineer won a $2.125 million auction for a renovated Queenslander in Annerley, following a bidding war among four families. The property, once an unlivable cottage, was bought for $675,000 in 2021 and transformed over several years. The auction was part of a busy weekend in Brisbane, with 192 auctions held. The preliminary clearance rate was 37 percent, indicating a slower market compared to last year. Other notable sales included a four-bedroom home in Chelmer that sold for $1.917 million after a postponed auction attracted more bidders. Despite the recent cyclone affecting some auctions, it ultimately helped draw more interest. The market shows signs of cooling, with affordability issues impacting buyer activity, according to analysts.