Bittersweet sale: Block bought for $11,000 sells for $1.7m
It was a bittersweet moment for these Sunshine Coast sellers, after the auction of a solid beachfront house on Saturday
Property
Don't miss out on the headlines from Property. Followed categories will be added to My News.
IT was a bittersweet moment for the sellers at 66 Lorikeet Drive, Peregian Beach, for the auction of the solid beachfront house with Kerry Glover of North Shore Realty on Saturday.
It was also a reminder of the state of the Sunshine Coast property market in 2019 and the value of property as a long-term investment.
First time on the market in about 40 years, naturally there was lots of interest for the three-bedroom, two-bathroom house on 513sq m fronting the foreshore reserve.
Ms Glover was run off her feet with inspections on the property that had been in the same family since the land was bought in 1976 for $11,000.
"The family had dispersed to all corners so the owner realised it was time to get rid of it,'' she said. "It has only been rented family friends since the house was built in 1980, the rest of the time it has been a valued weekender.''
In original condition with retro style interior the two-storey brick home had high vaulted ceilings, original kitchen with pantry, separate courtyard entry with laundry off the single lock-up garage.
There had been offers to buy during the auction campaign but they were subject to conditions. A crowd of more than 50 attended Saturday morning's auction, held on the lawn rolling down to the foreshore reserve.
But the bidders were tough and started at $1.3m.
With five active bidders, auctioneer Gordon Macdonald had to look right, left and centre - $1.4m, then $1.475m and eventually $1.620m where he sought further instructions.
An increase to $1.7m saw the property announced it would sell at that price if there was no further bids.
The hammer fell in favour of a Queenslander working in Hong Kong who is going to renovate it and rent out until she relocates back to the Coast.
Originally published as Bittersweet sale: Block bought for $11,000 sells for $1.7m
Revealed: Southern Downs among state’s most affordable regions to buy a house
While a recent report has listed the Southern Downs as one of the state’s most affordable regions to buy a house, a Warwick property agent fears further pressure on the market as major infrastructure projects commence.
Southern Downs council to put properties up for auction over unpaid rates
Southern Downs Regional Council has released a list of properties that are set to go under the hammer for overdue rates. FULL LIST.
Historical church hits the market, asking price less than a house
A once well-loved place of worship in regional Queensland has landed back on the market after falling short at auction, and it’s going for less than the average price of a house.
Sacred piece of Southern Downs history back on the market
It was only a mere three years ago a beloved place of worship went up for auction, now it’s back on the market. See its unparalleled potential here.
Picturesque South East Queensland campground hits the market
A grey nomads’ delight perched in picturesque South East Queensland has hit the market for an impressive price. DETAILS.
Major housing development proposed for Warwick suburb
Southern Downs Regional Council will now determine whether a proposed housing development the size of the playing turf of 12 MCGs will go ahead. Here’s what we know.