The kitchen of 9 Hawthorne Street, New Farm, that went on to sell for $1.625m within 24 hours of it being listed for sale.
The wallpaper might be peeling – and often a touch too garish for today’s tastes – the bathroom and kitchen may have pipes older than most buyers, but demand is running red hot for untouched suburban time capsules.
Unrenovated gems, often the worst house on many gentrified streets – especially in popular inner city suburbs or those within a 20km radius of the CBD – are so hot right now that agents simply can’t get enough of them listed.
MORE: Swimwear designer’s dream home for sale
How COVID-19 is changing buyer wish lists
Coronavirus sparks rise in adults moving back in with their parents
This home at 77 Smallman Street, Bulimba, goes under the hammer at 1pm Saturday August 8.
The wallpaper at 77 Smallman Street, Bulimba, harks back to another age.
They’re finding that when they do list, the houses are either snatched up within hours or spark a surge in inspections from a wide range of interested parties looking to either renovate, detonate or land bank for the future.
Real estate agent Glenn Bool of Place Bulimba has one such home going under the hammer tomorrow at 77 Smallman Street in high demand Bulimba, where he has already had about 50 groups come through. The three bedroom, one bathroom, triple car park house at 77 Smallman Street, Bulimba, has only ever had one owner since 1963.
The property is expected to see strong bidding at its 1pm auction this weekend (Saturday August 8) given the location.
This home at 9 Hawthorne Street, New Farm, sold within 24 hours of listing to a local family.
The bathroom at 9 Hawthorne Street, New Farm.
Another inner-city home at 9 Hawthorne Street, New Farm, was snatched up within 24 hours of listing with seven offers made within the hot inner-city 5km ring.
Aaron Woolard and Dylan Leone of Place New Farm sold the house for a whopping $1.625m with hours of the listing going live on realestate.com.au.
The house had been with the owners for 40 years and was bought by a local family who are now planning to put up their dream home on the site in a massive renovation project.
This is $1.625m home in New Farm.
Old school Queenslander style at the New Farm home.
The New Farm time capsule was on a 539sq m block that’s just 2.9km from the Brisbane CBD, with historic elements in the Queenslander house including VJ walls, casement windows, ornamental ceilings, decorative archways and timber floors.
The sale augurs well for properties like the Bulimba time capsule which will be open for inspection at 12:30pm Saturday (Aug 8) with the auction set to follow straight after at 1pm.
“As it stands at the moment we’ve got really good interest with four or five pre-registered bidders,” Mr Bool said.
The veranda at 77 Smallman Street, Bulimba, enclosed with coloured glass.
Around 50 groups have been through the property so far with multiple third inspections.
The location was the star but there was not taking away from the fact that the property hit the sweet spot for several types of buyers.
“People are loving the location, it’s central Bulimba, a nice flat block, an easy walk to Oxford Street, but it’s the fact that it’s a blank canvas (that’s the drawcard),” he said.
“People can come in, they could remove the house, renovate, extend, there are a lot of options you can have moving forward.”
Many original features at the 77 Smallman Street home in Bulimba.
The home was in its original state with terrazzo flooring in the bathroom and narrow hardwood timber floors, with its post-war status also appealing to those who may want to redevelop the site.
“There’s a real mixture of interest in three categories,” he said. “Young aspirational couples that want to be in the suburb … They will pay the premium to get into Bulimba. It’s the old buy in the best suburb you can afford. We have a number of people looking to do that,”
“There are a number of people investing, looking to hang on to the property and decide what to do with it down the track.”
“Others are measuring up for extensions, some saying they’d remove the house and can have a new one built in 18 months. It’s been educational for me to have different conversations with people about what they would do.”
FOLLOW SOPHIE FOSTER ON FACEBOOK
The post Untouched time capsules proving irresistible for buyers appeared first on realestate.com.au.