Kirwan house attracts 18 offers and is purchased for $60,000 over asking price

An average Townsville suburban home had more than 40 video walkthroughs and received more than 10 offers within two days with experts saying local buyers are being priced out of the market.

Explore Property sales agent Natalia Moore at 2 Halliday St, Kirwan, where there was huge surge in buyer interest. Picture: Supplied.

Like dropping chum in the water, the listing of a typical Townsville house for sale has caused a feeding frenzy of southern investors in a cautionary tale for locals struggling to compete in the city’s red-hot property market.

Strong in her support for Townsville’s residents becoming homeowners, Explore Property sales agent Natalia Moore wanted to highlight the frenetic nature of the city’s property market, where prime listings had become blink-and-you’ve-missed-it.

On Thursday, February 29, she listed a lowset, three bedroom, one bathroom house with 6x6m shed at 2 Halliday St, Kirwan, seeking offers over $399,000.

She carried out 12 video walk-throughs, three in person inspections, and received seven written offers, by 8pm that night.

By Friday evening, she had carried out 42 video walk-throughs, and passed on 18 written offers to the seller, who accepted an offer $60,000 over the asking price – leaving Townsville residents high and dry who had waited for that weekend’s open home.

Explore Property sales agent Natalia Moore at 2 Halliday St, Kirwan, where there was huge surge in buyer interest. Picture: Supplied.

Ms Moore continued with Saturday’s open home, encouraging visitors to submit an offer in case the contract terminated, which they did, including more investors.

“This has to be the most special and important property I’ve ever sold here in Townsville. I have 60-plus investors who inquired on this one property and are ready to purchase now,” Ms Moore said.

2 Halliday St, is a three-bedroom house in Kirwan which sold for $60,000 more than the asking price. Picture: Explore Property.

“If you’re a local buyer, and you see something come up online, don’t wait for the open home. Make sure you phone the agent straightaway and tell them you’re really interested in it, and see if you can get in to see it earlier.”

Describing Townsville’s property market as “very much a seller’s market”, she urged those considering selling to take the plunge now while they were “almost selling in isolation”.

“The downside of that is if you are selling and then you are moving within Townsville, you will be paying more for your property you’re going to move to,” she said.

“We are undervalued in comparison to the majority of Australia and this is that moment when prices start to climb up to where they should be valued.”

Urban Planning North director Kelly Reaston. Picture: Veronica Sagredo

In the Northern Eye Townsville report for the March quarter, Urban Planning North director Kelly Reaston said unlocking higher density housing supply was a key catalyst to achieve Townsville’s long-term growth future.

“The potential to deliver a rapid and relatively affordable supply boost is the most logical way to match the step-change in demand from a return to robust population growth,” Ms Kelly said.

Large problems/challenges reported by Townsville householders. Picture: CMHA.

“The sector continues to perform poorly with relatively few new starts, poor capital growth, and rising rents being eaten away by spiralling insurance and body corporate fees and rates.”

Ms Kelly proposed three key areas to shift the balance of housing options: repurposing commercial supply, planning for our ageing population and “gentle density” – where there was “increased density uniquely designed to suit the transformation and growth of neighbourhoods”.

Originally published as Kirwan house attracts 18 offers and is purchased for $60,000 over asking price