August 10, 2026 — 12:00pmAn “unliveable” three-bedroom house on an uneven block on Brisbane’s southside has fetched $938,000 after just three buyers vied for the keys.Offered to the market for the first time in 25 years, the now dilapidated 18 Wedmore Street in Mount Gravatt East sits on a 607-square-metre parcel. Bidding opened at $600,000.At $910,000 the home was called on the market, leaving two buyers to duel it out until it sold under the hammer.The final sale price was $427,000 below the suburb’s median value, making it the area’s cheapest house sale clocked since 2021.Andrew Boman, of Ray White Mount Gravatt, said while most bidders planned to renovate or detonate the home, the ultimate buyer was tight-lipped about his intentions.“Two of the three were wanting to renovate it, but I think the buyer will probably knock it over,” he said.18 Wedmore Street in Mount Gravatt East sold for under $1 million.Domain“I had around 25 groups inspect it throughout a three-week campaign, and we ended up with nine registered bidders.“I think considering the condition of the house and the fact that there were some contours to the block meant it had building challenges.“It’s also taking a lot more follow-up to give buyers confidence to want to come and bid.“And it’s because they don’t know where the bottom is … we run auctions every week and this is the most amount of buyers I’ve seen coming to auctions and not bidding.”Meanwhile, a renovated home in what was once Brisbane’s budget heartland has sold for $1.61 million after four young couples battled it out for the keys.The four-bedroom post-war home sits on a 627-square-metre block at 20 Deborah Street, Geebung, where prices have climbed almost $225,000 in the past year alone, as buyers increasingly see the suburb as an affordable foothold next to pricier neighbours like Wavell Heights.Seven registered buyers – all upgrading from a townhouse or unit – turned up to bid with four making an active play after the auction opened at $1.2 million. Quick $100,000 rises took it to $1.5 million, before smaller increments pushed it to $1.575 million where it paused for negotiation. The hammer fell moments later.The back deck and yard of 20 Deborah Street in Geebung.DomainThe keys went to a pair in their late 20s who are upgrading from a townhouse in Wooloowin.Selling agent Corey Shipp, of Ray White Wilston, said the meticulous renovation, location and Geebung’s growing appeal as an affordable suburb near pricier pockets underpinned the result.“We had over 60 groups come through the home during the three-week campaign … but a lot of the price feedback was coming in at around $1.3 and $1.4 million,” he said.“So this is a big difference … this tells me good quality stock is still moving.“It also comes down to the quality of the renovation and the affordability factor. You’re just one suburb over from Wavell Heights here … and Geebung has two train stations.”Inside the renovated Geebung property.DomainDomain’s latest House Price Report showed the median price for a house in Geebung rose 21.4 per cent over the past year and almost 94 per cent over the past five years.In Wavell Heights, the median house price is $1.65 million.Shipp said the vendors renovated the home after buying it in 2021 for $660,000. They’re now moving to Samford.The home was one of 164 scheduled auctions across south-east Queensland. By Saturday evening, Domain recorded a preliminary clearance rate of 26 per cent from 90 reported results, with 17 homes withdrawn. Withdrawn auctions are counted as unsold when calculating clearance rates.On the other side of the city in Camp Hill, a turnkey home described as “more of a boutique hotel than a house” sold for a record-smashing $3.2 million in a pre-auction deal.The five-bedroom, five-bathroom home at 27 Renton Street was built by Hatcon Builders and completed a couple of weeks before hitting the market. It sits on a 405-square-metre block.A local buyer snapped up the keys three days before the auction, setting a new street record.The new build at 27 Renton Street, Camp Hill, sold to a cash buyer.Domain“We had 40 odd couples come through the five-week campaign and from that we had three particularly interested,” said selling agent Will Torres, of Torres Property.“But then 72 hours prior we received an offer of $3 million, which was cash unconditional.“I met the buyer there on Wednesday night and we negotiated from $3 to $3.2 million and closed the deal after three hours.“I was thinking of rolling the dice to let it compete at the auction … but one bird in the hand is better than two in the bush.“And this is a fantastic result, especially when you consider this street actually borders Carina.”The marble features in the Renton Street property reminded the buyer of Hong Kong.DomainTorres said nostalgia and sentiment pushed the buyer to splash the cash.“He had lived in Hong Kong and told me the marble and the finishes and the use of stone throughout this home drew him in. It felt like he was back in Hong Kong,” he said.While the price showed prevailing strength in an overall slowing market, Torres said buyer numbers had dropped.“People are typically taking more time to commit now and they want to do their due diligence because there’s a fear of over-paying,” he said.“I’m still finding there’s definitely people out there willing to buy … but if I look at the number of people coming through it’s a lot less,” he said.LJ Hooker head of research Matthew Tiller said while buyer sentiment is soft nationally, Brisbane and Perth remain more resilient than Sydney and Melbourne.“Listings in Brisbane haven’t risen to the extent we’ve seen in the south and there has probably been a more consistent level of buyer demand,” he said.While tax policy changes and the three successive rate hikes continue to fuel uncertainty, Tiller believes this week’s Reserve Bank meeting could shift sentiment.“If rates do remain on hold it won’t help lift confidence completely, but it will deliver a slight uptick in sentiment,” he said.Property listingsFrom our partners