Historic home on one of Brisbane’s best streets sells for $17m

A landmark federation home on one of Brisbane’s best streets has clinched the nation’s top auction result of the weekend after selling for $17 million.

Built in early circa 1900s, the six-bedroom estate sits on a 2,024-square-metre parcel at 1 Sutherland Avenue, Ascot, and has remained in the same family for 25 years.

Four buyers registered for the Saturday auction, including two locals and two virtual bidders who phoned in from Sydney and the US. In front of a crowd at the Calile Hotel, bidding opened at $12 million with three bidders trading mostly $1 million rises. At $16.8 million, two remained and the auction paused – before selling under the hammer moments later.

Ray White Collective’s Matt Lancashire marketed the home, and while unable to disclose buyer details, he said the result showed Brisbane’s defiance in the face of grim national property headlines.

“The campaign was amazing. We had close to 100 groups through in three weeks but when you’ve got a landmark once-in-a-generation home like this that’s why,” he said.

“Houses on Sutherland Avenue just don’t come up often and it’s generally regarded as one of Brisbane’s best streets.

“But this result also tells me that Brisbane’s high-end market is in good nick.

“We had 10 (interested) buyers with the capacity to spend that money. The issue is there’s no stock for them to buy.”

The Ascot property sits a stone’s throw from Brisbane’s second most expensive home – 32 Sutherland Avenue – which smashed the city’s price ceiling when it fetched $23 million in late 2024. In 2025, an unrenovated riverfront home at 17 Julius Street, New Farm, reset the record at $25 million.

For vendor Donna Scott-Young, the sale marks the end of a deeply personal chapter.

Together with her family, Scott-Young bought the home for just $1.66 million in 2001 and project managed a three-year renovation in 2007.

“The home is just faultless … and it has a real soul,” said Lancashire said.

“You simply couldn’t replace it even if you tried.”

The Ascot property was one of 159 scheduled auctions across South East Queensland over the past week. By Saturday evening, Domain recorded a preliminary clearance rate of 32 per cent from 115 reported results, with 16 homes withdrawn. Withdrawn auctions are counted as unsold when calculating clearance rates.

In Camp Hill, a four-bedroom, two-bathroom house on a 316-square-metre parcel at 16 Grant Street sold for $2.27 million in “textbook” auction, going to a young local.

A buyer’s agent opened bidding at $1.9 million, sparking a flurry of $20,000 and $10,000 rises among the four registered bidders. Despite matching every bid with a quick $1000 rise, the buyers’ agent was forced to admit defeat at $2.231 million, leaving the young man to nab the keys.

“Usually buyers agents’ open quite strong to try and knock people out but this one didn’t. Their clients may have thought a deal was to be had - but good properties are still selling for fair market price,” said Shane Hicks of Place Camp Hill.

“And this was a textbook circa 2025 auction … it went like clockwork and the price was right in the middle of the range we were hoping to get.”

Run across 17 days, Hicks said the campaign showed an emerging market trend.

“We had 15 groups through the first Saturday and at the second we had just four. So that tells us the depth of buyers isn’t as deep it was, but that the serious buyers are there,” said Hicks.

“And they’re getting all the listing notifications and acting quickly.”

While Hicks deemed the auction a win for both the buyer and seller, he said market sentiment remained a headwind.

“Buyer confidence is probably the biggest difference between the 2025 and the 2026 market,” he said.

“Worst case scenario we’re seeing homes sell for 5 per cent less (than the peak) … but the biggest battle right now is trying to give buyers and sellers confidence in the market.”

Nearby at 43 Princess Street in Bulimba, a Cleveland couple outmuscled four other bidders to nab a “rare” four-bedroom home built by Shaun Lockyer and Black Developments – paying $4,370,000.

Bought off the plan in 2021 for $3.18 million, the home sits a stone’s throw from Oxford Street on a 759-square-metre parcel and features an outdoor barbecue kitchen, a pool and a media room.

Bidding opened at $3.8 million, and a sluggish, hour-long contest followed before the hammer fell.

“Buyers are certainly being a bit more measured with their bidding … and I think every seller is wanting a bit more for their homes but the vendors were satisfied with the result,” selling agent Scott Darwon of Ray White Bulimba said.

“We’re seeing that when the properties are priced right to the market they are receiving OK inquiry and attendance at auction … but everyone is across the news and buyers are being choosy.

Despite market uncertainty, Darwon said about 80 groups inspected the home thanks to its location and pedigree.

“It was the sheer quality of the home. In music there was Lennon and McCartney and in Brisbane (for architectural builds) it’s Lockyer and Black,” he said.

LJ Hooker chief of research Matthew Tiller said Brisbane was continuing to outperform Sydney and Melbourne, with a lack of new listings adding a bit more buoyancy.

“There are still buyers in the market and while house lending figures have fallen, they’re not zero,” he said.

“There are still investors borrowing … but they’re now seeking higher yield homes. First home buyers are still consistent too.

“But upsizers and downsizers are driving the market.”

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