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Record home sale: Coronavirus, Ascot, Windermere, Dominos, Ray White, auctions, big family home,

BIG money is still changing hands at the top end of Brisbane’s housing market despite concerns the rapidly spreading coronavirus might spook buyers and sellers.

One of the city’s oldest and grandest estates has just sold for more than $13 million after less than three weeks on the market, setting a sale price record for the blue-chip suburb of Ascot.

Built in 1886 Windermere on 14 Sutherland Avenue is a six-bedroom, four-bathroom heritage Queenslander on a 4660sqm parcel of land.

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Ray White New Farm principal Matt Lancashire, who negotiated the sale with his colleague Hamish Bowman, said the property sold to a local property developer with a young family.

Mr Lancashire said the home attracted interest from interstate, as well as expat buyers in the UK, Hong Kong and Singapore, plus some Australia farmers.

“The land size alone was very attractive because it’s more than an acre of land — one of the largest parcels in the area,” he said.

“I have a database of every buyer who has ever inquired with me on any property worth more than $5 million, so I have a database of 1660 prestige buyers. There are some serious buyers looking.

“We had serious buyers (for Windermere), but in fact the winning buyers weren’t actively looking. They were passive buyers, because they have a beautiful home already, but they wanted a statement home and they fell in love with it.”

Mr Lancashire said he was also in the process of finalising another “market leading” sale.

While the auction market remained strong at the weekend, there are concerns this resilience may not last.

There are reports that buyers are opting for virtual tours of homes through real estate agents via social media, and more sellers are getting cold feet about listing their properties.

Mr Lancashire said he had been prepared for the worst at the weekend, but was surprised by how many buyers were out — undeterred by the circumstances.

“We were deeply concerned going into Saturday,” he said. “We were nervous that we would see low turnouts at opens and auctions, but the opposite happened.

“We had, in some cases, more than 40 groups through some open for inspections. So the message is that we are open for business and committed, determined buyers are still very active in this market.”

According to CoreLogic data, auction markets remain strong despite coronavirus concerns, returning a preliminary clearance rate of 70.6 per cent across 2,220 homes up for sale by auction over the past week.

The property research company’s weekend market update showed there was “some downside concern” that housing activity would reduce in the coming weeks as confidence was affected by the coronavirus.

“However, based on the early auction results this week, the housing market has proven to be relatively resilient so far.”

The previous record for Ascot was set by Domino’s Pizza boss Don Meij when he sold 27 Sutherland Avenue for $11 million in 2018.

Chris Miers, who paid $10.2 million for 14 Sutherland Avenue in 2014, said the sale of his home was a sign of confidence in the prestige market.

The Miers are downsizing to live on the river at Teneriffe with a possible international move on the horizon.

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The property features a championship-sized tennis court, pool and spa, and lush gardens landscaped by the designer Paul Bangay.

The former owners gave the house a minor renovation, including installing a new kitchen.

A guest wing in the home features a second kitchen and access to a wine cellar, sauna and media room.

There are two courtyards — one with a pizza oven and fountain, and the other with a barbecue, shed and cubby house.

Traditional features include wide verandas, 3.8m-high ceilings and marble fireplaces.

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Originally published as Brisbane home sells for $13m despite coronavirus concerns

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Artie Phelan

Update: 2024-06-16