Real Estate

rochedale estate home sells for 2 5 times above the suburb median

Written by The ReReport

The property at 500 Grieve Rd, Rochedale, has a grand entrance.

A STATELY Rochedale residence has sold for more than 2.5 times the suburb median.
The 500 Grieve Rd property, which is on a large 2.02ha block, sold for $2.6 million.
According to CoreLogic Data, the suburb median house sale price for Rochedale was $1,017,500.

The rear of 500 Grieve Rd, Rochedale, is like a resort.

Johnston Dixon CEO John Johnston said there was high levels of interest in the property, including from international buyers.
“We had plenty of Australian and overseas buyers,” Mr Johnston said.
“The property ended up selling … to a fantastic family.”

Inside 500 Grieve Rd, Rochedale.

The residence had two master bedrooms, both with ensuites and walk-in robes.
Most of the house’s living areas were downstairs, and there was also a self-contained guesthouse.

There is even a tennis court.

The property has a resort-style pool and tennis court.
Mr Johnston said unique properties such as 500 Grieve Rd would sell in any market, the rest of the market was feeling the flow-on effect of the Royal Commission into banking.
“Entry level homes, despite the constraints of the bank are still relatively robust, but over the million dollar mark it gets harder.”

The house at 500 Grieve Rd, Rochedale, sold for $2.6 million.

He said banks were concerned about what “knee jerk” recommendations would come from the inquiry, which was holding back a boom in the Brisbane market.
“After Sydney and Melbourne always finish their booms, we always start,” Mr Johnston said.
“We have started but it’s taking longer than it usually would.
“We are probably six months away from the market being able to regain a resemblance of normalcy but that could be delayed further if the dictates of democracy determine.”

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