The QLD property bought and relisted within a month
This Queensland property is back on the market – just one month after the contract settled. But it’s not the only one that has been flipped fast, with some owners making staggering profits.
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This Queensland property is back on the market – just one month after the contract settled. But it’s not the only one that has been flipped fast, with some owners making staggering profits.
Located on sought-after Adams St in Sunshine Beach, the 859sq m property was listed for sale by negotiation on October 9 --- 26 days after the contract settled.
Publicly available property records show the current owner bought the property on August 13, with it settling on September 13.
The property was first bought for $18,000 back in 1987, went to auction in August and sold for $2.27 million, according to Core Logic.
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Since then, the Sunshine Coast property market has attracted some mammoth sales, with a nearby beach house on Adams St selling for $5.15 million in June, and numerous properties in Sunshine Beach changing hands for many millions.
The suburb holds Queensland’s top residential price record after a Webb Rd house sold for $34 million in June.
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And just last weekend, a house is the neighbouring suburb of Noosa Heads, that was on the market for the first time in over 40 years, sold for a new auction record of $16.45 million.
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The Adams St property boasts a 42m, north-facing frontage just 350 metres from the beach, and it is within easy walking distance of the village.
“There is a classic Sunshine Beach weekender sitting on the block to use while you design your modern new home with potential ocean views,” the listing by Century 21 Connolly Hay Group Noosa Heads agents Mike Hay and Dean McLure says.
It is not the first property to hit the market – and generate a significant profit – soon after being purchased.
An original cottage at Burleigh Heads earned its owner a profit of $340,000, or roughly 4.2 times the average annual salary, in just six months, when it was re-sold in March.
And they didn’t lift a finger.
At the time, property records showed the cottage was originally purchased for $1.35 million on September 7 last year.
It was listed for sale again in February, and sold under the hammer for $1.69 million.
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And a house, also at Burleigh Heads, that was so popular it almost “broke the internet” was relisted just four months after it was bought by a local family for $3.75 million in late May.
It was listed for $4.3 million on September 23 and recently sold for $4.305 million – or a profit of $555,000.
Retired tennis star Lleyton Hewitt and wife Bec are believed to be the mystery buyers.
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