In a rare move, two houses — one inner west and the other south — have hit the market for less than the lowest median house price of any suburb in Brisbane.
At $250,000 each, both houses were listed separately with varying conditions, but were lower than not just their own suburbs’ medians but below any other suburb median in the Queensland capital.
That’s less than half the Brisbane median house price in the latest CoreLogic Market Trends report ($532,000), but also less than the cheapest place to buy a house in Brisbane this past year — Ellen Grove ($292,000 median house price).
As expected, there is a catch with the first property — a large four bedroom Queenslander in Corinda — and the second one, a three bedder on a 607sq m block in Kingston, does need a lot of elbow grease.
The Corinda property is a “Queenslander in original condition, four bedrooms plus study”, according to the listing on realestate.com.au.
But, it continues, the sale is just for the “house for removal. Land not included”.
That is, the $250,000 price tag does not cover the large double block 0.94 hectare site in Corinda that the house sits on.
Nevertheless, the building is substantial — at 1,858 sq m and seems to have retained many of the classic features that make Queenslanders a collector’s item.
Attempts to get further comments were unsuccessful yesterday.
The double storey house at 5 Greenwood Street, in Brisbane working class suburb Kingston, has clearly seen better days. It does need some serious elbow grease and maybe even a solid plan for contingencies.
But it is what agent Phil McGrath of Impact Property termed a “renovators delight”.
“The house is in need of repair. This is where your opportunity lies. The house is structurally sound but needs renovation to the bathroom, kitchen. The house needs painting internally and externally too as well as some TLC. It is straight out of the 1980s.”
According to the realestate.com.au listing, houses surrounding the property that have been renovated have sold for “a lot more money than this house will sell for”.
It will be sold as vacant possession and has had tenants month to month.
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