June 23, 2021

Investors keen to snap up big blocks in Eagleby

first_imgThe home at 9 River St, Eagleby.A lowset brick home has set a street record after selling  at auction in Eagleby.The 1267sq m property at 9 River St sold for $417,000 on June 17. Marketing agent Brennan Hill of Ray White Beenleigh described the auction as “textbook exciting”.“We had about 30 people on the front lawn for the auction and five registered bidders. Four buyers were actively bidding and there were more than 40 bids,” he said. “The opening bid was $280,000 and the auction itself probably took 20 minutes. Bids were all over the place – sometimes going up in $500 increments, sometimes in $1000 or $2000 increments. “The gentleman who purchased was very excited. He was a Sydney investor bidding by phone. He’d never seen the property.” More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020Mr Hill said the vendors, who lived locally, and neighbours were quite happy with the result. “It has set a good benchmark for the value of their family homes,” he said. Mr Hill said he received more than 80 inquiries on the property.“Buyers were interested in the large corner block. About 80 per cent of inquiries were from investors and about half of those were Sydney-based,” he said. “These large, strategic properties with potential for subdivision are doing exceptionally well in Eagleby.“The entry-level market is a little dampened but larger lots are in high demand.” Prior to the auction, the River St record was held by No. 6, which sold for $395,000 in November 2007.last_img

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