A severely cluttered property in Brisbane’s upscale suburb of Brookfield has sold at auction for $1.28 million, despite buyers being barred from in-person inspections due to safety concerns.
Auction Highlights
The one-hectare site on Nioka Street attracted around 130 attendees to the on-site auction on February 10. Forty registered bidders competed for 30 minutes until Nic Vukovic clinched the deal.
Queensland Public Trustee auctioneer Paul Gaffney explained that the home sold on an ‘as is’ basis, complete with hundreds of kilograms of hoarded items inside and scattered across the grounds. Overgrowth rendered the property invisible from aerial views, inaccessible by vehicle, and unsafe for standard building and pest checks. The swimming pool requires filling in as it is beyond repair.
Gaffney described the structure: ‘The house itself is a solid brick home with four bedrooms, dining and living room, study, kitchen, basement, double carport and a non-certified pool.’ He added, ‘There is a great deal to do, but the pay-off is there in the long run with this amazing hectare of land in one of Brisbane’s most exclusive suburbs.’
New Owner’s Perspective
Vukovic nearly overlooked the listing upon first glance online. ‘I thought wow, that looks terrible,’ he shared. ‘But my mum said wow that’s exciting. She loves doing renovations. It’s going to be an interesting project, that’s for sure.’
Brookfield features luxury mansions with pools and tennis courts, home to some of Queensland’s wealthiest residents. The suburb’s median price for four-bedroom homes stands at about $1.7 million, with comparable properties reaching up to $3.8 million recently.
Housing Market Trends
The sale highlights fierce competition for limited land in Australia. KPMG forecasts Brisbane house prices to rise 10.9 percent in 2026 and another 8.9 percent in 2027. Nationally, values are projected to increase 7.7 percent this year and 6 percent next year before easing due to affordability pressures and stabilizing population growth.
KPMG chief economist Brendan Rynne noted that recent policy shifts, such as expanding the 5 percent deposit scheme in late 2025, have boosted demand, especially at entry levels. However, new housing supply lags. ‘Our forecast for net housing supply indicates that supply over the next two years will fall short of target by roughly 30 percent,’ Rynne stated. ‘Based on current trends, we expect an average of around 150,000–170,000 new dwellings per year.’
Housing affordability has worsened, with median house values now at 8.9 times average income, up from 6.6 five years ago. The repayment-to-income ratio is 50.6 percent, down slightly from last year.
