PHOTO: The Queens Park auctions attracted a crowd. Picture: Julian Andrews
According to realestate.com.au a homeowner in Queens Park has pocketed $5.1 million for her four-bedroom cottage of 36 years – nearly $800,000 above the minimum price she was prepared to accept.
Sharon Lucas, who purchased the Alt St home in 1986, said she was “delighted” with the higher than expected result and “a little surprised” at the auction turnout.
Close to 50 people attended, including eight bidders. Just shy of 200 groups had inspected the property in the lead-up.
Ms Lucas said seeing so many people show an interest ahead of the auction had been encouraging and that knowing it was on a larger block for the area (388sq m) had given her confidence.
Auctioneer Paul Menck brings down the gavel on the house which sold for over $5 million.
“It was renovated twice,” she said. “I realised mine was unique. It’s a very pretty house.”
Sales records showed the 1986 price was $165,000.
Selling agent Alexander Phillips, the director of PPD Real Estate, attributed the bumper price to the low supply of similar properties on the market.
“It’s one of the top three streets in the neighbourhood,” he said.
“In this market it’s only vendors with strong reasons to sell that are listing; the rest are holding off.
“There’s now a shortage of properties on A-grade streets, but that’s what buyers have been retreating to as the market has softened.”
Just shy of 200 buyer groups inspected the home.
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