The house at 140 Annie St, New Farm, sold at auction for $1.3 million.

AN INNER-city hoarder’s house has sold for almost 60 times what it was originally bought for.

The two-level house at 140 Annie St changed hands for the first time in 45 years at an auction yesterday.

There was a DIY staircase.

More than 40 spectators and nine registered bidders spilt out onto the street in front of the New Farm property at 9am and bidding for the pre-war dwelling kicked off at $1 million, with Belle Property Bulimba agent and auctioneer Paul Liddy leading the way.

Mr Liddy coaxed bidding upward, taking two $100,000 bids, before it broke down to bids as small as $5000.

After just nine bids, the house was sold under the hammer for $1.3 million dollars.

According to CoreLogic data, the property last sold for $22,000 in 1973.

The kitchen had seen better days.

Mr Liddy said the winning bid was placed by a friend who was acting on behalf of an interstate buyer.

“The buyers are a young couple who are not originally from Queensland but looking to turn it into their own family home,” Mr Liddy said.

Almost 100 cubic metres of hoarder’s junk was removed from 140 Annie St, New Farm.

The Courier-Mail previously reported that it took “four or five” people about 10 days to remove almost 100 cubic metres of “hoarder’s junk” from the property.

However, Mr Liddy said the house was built before 1946 and could not be demolished under current heritage protection legislation.

“It certainly is an interesting piece of property to say the least, but it bears great bare bones,” he said.

Some of the property had VJ walls and timber floorboards that could be restored.

Mr Liddy said the sellers, who were understood to have inherited the property, were “delighted” with the result.

“It’s a family home, so there is a lot of emotion involved, but their expectations have been well and truly exceeded,” he said.

The agent said the auction was an example of the strength in the New Farm market at present.

“We had an extraordinarily big crowd and nine registered bidders … and the land holding of 582sq m in this location in New Farm is extraordinary,” Mr Liddy said.

“We’ve seen the market speak today about the land values in New Farm, without a doubt.”