Eight bidders and eight minutes to give eight siblings over $800,000

first_imgThis is it just after the Hung family moved in, back in 1972.McGrath auctioneer Justin Nickerson presided over a rapid-fire auction which lasted about eight minutes, with four of the eight registered bidders taking the auction above its $800,000 reserve price without stopping.“Today there’s lots of memories,” Mr Hung said after the auction.“It’s wistful rather than sad and I think we’re pleased to be drawing a line, we’ve come to this point, the house is sold, and now we’re moving forward.” >>>FOLLOW THE COURIER-MAIL REAL ESTATE TEAM ON FACEBOOK<<< A lot has changed around 39 Bale St, Albion, but the property itself has remained untouched.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoMrs Hung passed away in 1983, and her husband gifted the property to their eight children when he died last year, aged 95.A crowd of 60 gathered in the backyard of the 610sq m property with dual street access, to watch the house sell. SEE WHAT ELSE IS FOR SALE IN ALBION The original kitchen is ready for a complete makeover.The Hung family travelled from Toowoomba, Tamworth, and across Brisbane to be present at the auction, with another brother living in Germany, hooked up to the auction via a smart watch.“We’re all heading to my place now to have a few nibblies and a coffee,” Mr Hung said.“I lived my formative years here. That big backyard was great, everyone played in backyards in those days.“And under the house was tall enough to do things, we’d have Christmas dinners under there with extended tables up on stumps.“In the 1974 flood, we watched the waters coming, they came up to the top step, nine inches below the floorboards.“We were fortunate to get all the cars out, including what had been my grandfather’s car, a 1939 Austin 8. That became Dad’s car, the green machine, and now it’s with my eldest brother and he’s going to do it up.”A total of 45 properties went to auction across Brisbane on the weekend, following on from a week which saw a Brisbane clearance rate of 42.6 per cent.The latest CoreLogic property data shows house prices in Albion are holding steady.The median house price is currently $769,000 which is the same as it was three months ago, and 1.3 per cent higher than this time last year. The property at 39 Bale St, Albion as it looks today.Among them was Russell Hung, who was almost 15 when his mum and dad bought 39 Bale St at Albion for $11,500 in 1972. With a Queensland nut tree offering some shade, the crowd of 60 had a great view of the house during the auction. It’s the same backyard where three of the family’s pets are buried, including Rusty the dog who didn’t make it through the 1974 floods.Bidding started at $600,000 and rose to $750,000 in $50,000 increments.“It then organically got to $827,000,” McGrath Wilston sales agent Craig Lea said.Putting in the winning bid was a party of two young couples from Albion and Newmarket who pooled their resources to invest in the property.This was their first auction and one couple was dialling in from overseas.“We plan to move in initially and see how the suburb changes with the proposed Albion train station development,” one of the buyers, who wished to remain anonymous, said. Norman and Ivy Hung already had three adult children when they moved into the three-bedroom Queenslander in June 1972, but they raised five other children there. The Hung family at their last Christmas gathering in 2018 before taking the family home to auction.EIGHT siblings secured an $827,000 legacy on the weekend after eight bidders took eight minutes to buy their family home at auction.All but one of the eight brothers and sisters returned to Brisbane for the auction, 47 years after they first moved in.last_img