A weathered three-bedroom home at 28 Saint Osyth Street has sold under the hammer for $1.325 million, drawing an audience of locals, builders, and former tenants who once called the property home.
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The house, set on a 405-square-metre corner block, had not changed hands since 1983. Its original features included an outdoor toilet, dated floor plan, and tired stumps, all of which signalled the scale of renovation awaiting its next chapter.
Despite its condition, the auction drew spirited competition. Bidding began at $1 million and quickly escalated in $50,000 increments. Five prospective buyers participated, with the final bid secured by a local couple who had long admired the property during their walks through the neighbourhood.
Adding to the occasion, several former tenants reunited at the open home, reminiscing about their days as university students living under its roof. Their presence gave the auction a celebratory feel, blending nostalgia with the excitement of new beginnings.
Market Context in Toowong
The result comes at a time of renewed strength in Brisbane’s property market. According to recent figures, Toowong’s median house price sits at approximately $1.61 million, reflecting steady growth in the inner-west suburb. The area’s blend of heritage homes, proximity to the CBD, and leafy character has made it particularly attractive to buyers seeking both lifestyle and investment opportunities.
Domain data shows Brisbane’s clearance rate hovering around 60 per cent in recent weeks, with activity picking up as spring encourages more buyers and sellers into the market.
A Snapshot of Change
The sale of 28 Saint Osyth Street reflects a broader trend across Brisbane, where demand for both finished homes and renovation-ready properties is driving competition. While polished, move-in-ready residences command premium prices, character homes in need of work remain highly sought after for their potential.
In this case, the enduring charm of the property, combined with its corner-block location just minutes from the city, outweighed the scale of the renovations required. For the new owners, it marks the beginning of a personal project and the continuation of the property’s long history in the suburb.
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Looking Ahead
The sale serves as a reminder of the enduring appeal of Toowong, where history and growth intersect. For many residents, the auction was more than a real estate transaction – it was a chance to share stories, reconnect, and witness the next chapter of a home that has been part of the community for decades.
Published 23-September-2025
