Under the hammer this Saturday
ALMOST 30 years ago, a home in the heart of Brisbane was purchased for $110,000 by a couple with grand renovation plans.
This Saturday, that same couple will take the property at 29 Robe St, Newmarket to market with great hopes of seeing their long-held investment pay off.
Ray White West End principal Luke O’Kelly said the four-bedroom home on a 506sq m block of land is in a popular street surrounded by blue-chip properties.
“The Wilston State School precinct has played a big part in buyer decision making, as has Newmarket’s growth particularly with the likes of the big shopping centre going up on the main road,” Mr O’Kelly said.
“There is still good value here for a suburb that is less than 8kms from Brisbane’s CBD.”
According to researcher CoreLogic, the current median sales price of houses in the area is $853,500.
Mr O’Kelly said the owners shelved initial renovation plans to travel and so the home has been tenanted for the majority of the past 28 years.
He said he’s fielded the majority of enquiry from buyers looking for a great entry point into the attractive Newmarket market.
“Young couples are interested in the property,” Mr O’Kelly said.
“A couple of neighbours have done renovations in the area and are looking to do the same with this house.”
Ray White Queensland chief auctioneer Mitch Peereboom is calling the 11am on-site auction.
Ray White has more than 280 properties scheduled to go under the hammer this week across Australia and New Zealand, including 128 George St, Erskineville at 9am this Saturday.
The two-bedroom, one-bathroom beautiful freestanding inner-city Sydney home offers enormous potential to expand, subject to council approval.
“People are attracted to the property because of the double frontage,” Ray White Erskineville sales executive Moira Verheijen said.
“The façade is absolutely gorgeous and the location is key. There is still potential to improve but it’s been done up nicely.”
Ms Verheijen said couples, young families and retirees have all shown interest in the property which has an attached price guide of $1.3 million.
In Adelaide, a 1955 solid brick home at 3 Lucerne Grove, Findon has also attracted a wide variety of buyer ahead of its midday auction this Saturday.
Ray White Grange property consultant Michael Grevelis said the residence offers exciting options.
“It has a lot of potential this home,” he said.
“The house is structurally well built, and it’s only a ten minute drive to the CBD or beach.”
Already beautifully renovated and in an exciting Melbourne growth corridor is 17 Dudley St, Footscray.
The three-bedroom, one-bathroom home is scheduled to go under the hammer at 1pm this Saturday, if not sold prior.
“It’s in Footscray heartland,” Ray White Yarraville director Rita Galati said.
“I’ve had probably over 60 groups through to inspect the home. It’s an affordable entry into the area now. Ten years ago, it was really challenging to get people to buy into Footscray but now it’s on the radar.”
Ms Galati has attached a price guide of $810,000 – $860,000 to this property.