This Brisbane ‘renovator’s delight’ has sold at auction for $970,000.

Buyers are fronting up big dollars for fixer-upper homes in some of Brisbane’s best suburbs — and it could be just the beginning if the $970,000 sale of 10 Bernhard St, Paddington is any indication.

10 Bernhard St Paddington will require some work to unearth its full potential.

The three-bedroom, one-bathroom renovator’s delight sits on an elevated 405sq m allotment close to cool cafe’s and boutique retail, but it will take quite a bit of work to unearth a grand residence from the modest home.

While at this stage the property only has ‘city glimpses’, there is potential to take things up a notch, according to Andrew Murray, sales agent at Ray White Paddington.

Mr Murray said he was able to leverage off previous selling campaigns and brings an extraordinary level of competition to Bernhard St.

“I had a couple of properties recently that I sold — unrenovated cottages in Paddington.”

Mr Murray said the property had a great sales campaign with 93 groups at open homes, 25 private inspections and eight written offers before auction.

“Given the amount of work we put in, it didn’t surprise me,” he said.

The agent fielded eight written offers before the auction.

On auction day, 15 registered bidders looked to make it theirs, but it was a Brisbane buyer who landed the home at the near $1-million-price tag.

According to Mr Murray the buyer has experience with renovations.

“We’ve got a happy buyer and a happy seller — but it exceeded expectations for sure.

“I think there’s still a lot of growth. I think we’re just at the point where the pin is about to drop and were about to see a lot more of these big sales — especially in unrenovated, well positioned, well marketed property.”

Mr Murray says although the sale was to a local purchaser, interstate interest in Brisbane is growing.

“People coming up from the southern states looking to buy something that close to the city on a 405sq m for under a million dollars is unheard of down there, whereas they come up here and you could almost buy two for the price of one.”

The agent believes demand for unrenovated property in Paddington is only just ramping up.