Tiny Brisbane unit smashes expectations with $718,000 auction result

The 57sqm property at 706/16 Aspinall Street, Nundah attracted eight registered bidders on auction day, with Ray White Collective agent Simon Petrie describing the competitive atmosphere as indicative of Nundah's rapidly strengthening market position.

“We were expecting interest, but we didn't expect this price,” Mr Petrie said.

“The highest pre-auction offer sat at $650,000.”

The property's clever design and generous proportions were key selling points.

“Despite being a one-bedroom apartment, the light-filled open-plan layout, private north-east facing balcony, ducted air-conditioning, and secure parking created an offering that punched well above its size,” Mr Petrie said.

Mr Petrie said there was a diverse mix of buyers on auction day (21 January), including first-home buyers and investors, reflecting Nundah Village's broad appeal across demographics.

Mr Petrie said the successful bidder - a local gentleman who had just sold his own Nundah property - was seeking both a downsize and an investment opportunity.

“He outbid an interstate investor from South Australia, with the hammer falling at $716,000 before rising to $718,000 on final negotiations,” he said.

For the seller, a Cairns-based owner who purchased the property just two years ago for $415,000, the result was overwhelming.

“They were over the moon, they couldn't believe it,” Mr Petrie said.

“We're seeing the market rise 30-plus per cent in that area.”