Real Estate

bidders not deterred by camp hill homeaes paint peeling exterior

Written by The ReReport

THEY say to buy the worst house on the best street.
This advice rang true to bidders at a Camp Hill auction at 10am yesterday morning.
The sun beat down on a crowd of about 30 as they gathered at the 6 Hartley St address.
She certainly wasn’t the prettiest, but the weatherboard house had bidders in a frenzy.
Place Bulimba agent Paula Pearce said bidding kicked off at $700,000, with six registered bidders furiously vying for the property.
“It was fierce bidding,” Ms Pearce said.
“I was working with one bidder who just couldn’t get a bid in, because bids were just coming in over the top.
“Four (of the bidders) were really active before it dropped down to two at the end.”

The paint of 6 Hartley St, Camp Hill, was peeling, but that didn’t turn bidders off.

Ms Pearce said bidding moved quickly from $700,000 to $800,000, before slowing slightly.
“There was even a $1000 bid, and then there were a couple of strong ones at the end, presumably to try and get rid of the competition,” she said.
The property then sold under the hammer for $815,000 to an investor.
“They’re going to look at holding it for a while and not making a decision on what they’re going to do until later down the track,” Ms Pearce said.
According to CoreLogic data, it is the first time the house has sold since 1999, when it was purchased for $170,000.
Most recently, the property — which has two bedrooms, a single bathroom, and is on a 607sq m block — was rented at $320 per week.

The house sold under the hammer for $815,000.

Ms Pearce said while most of the bidders were investors or developers, there were some people with other things in mind.
“There was one that was a neighbour that had interest in the property, and the other was someone who wanted to do the house up,” she said.
The agent said the auction was a “cracker” and was also a good indication of the local market at present.
“If we’re selling well over reserve, which we did in this instance, it shows the market is good,” she said.
“There is a healthy appetite for good products in good suburbs, and Camp Hill is a good suburb.”

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