SOME may be labelled a “renovator’s dream” or “ready-made investment”, but properties listed below the median house price on larger-than-average blocks in Cairns are still obtainable for astute buyers.
Cairns Property Office agent Robyn Hawley-Whitton recently listed a three-bedroom Gordonvale house for $229,000 which was snapped up by a bargain buyer within days.
“The second person who saw it, bought it,” she said.
“We had lots of other people interested in it but it had already gone.”
Ms Hawley-Whitton said the Queenslander-style home on a 1012sq m block had been owned by a Gordonvale family for about 50 years and a Cairns tradesman saw the potential for capital growth.
“He is a tradie and has a lot of people he knows who can help do it up.
“In the traditional older towns like Gordonvale, there are a lot of post-war houses.
“Queenslanders are sought-after but it does depend on how much work needs to be done … which is reflected in the asking price.”
Machans Beach agent Chris Marsh, of Betta Real Estate, said subdividing blocks was another investment option.
Despite the median house price being $325,000 in the beachside suburb, Mr Marsh recently listed a Christensen St three-bedroom house on a large 1214sq m block in the high $200,000s bracket.
“Dual-occupancy is a possibility there with the land size,” he said.
“The average block here is less than 600sq m. It does represent good value.”
Mr Marsh said the house was currently tenanted on a month-to-month basis for $295 a week.
“There are some good buys. Machans Beach is eclectic, arty and a little bit alternative,” he said.
“It’s got the reputation of Kuranda by the sea and it is the last of the coastal villages.”
For families looking for a modern house close to primary and secondary schools, real estate agent Jennifer Culhane has one property listed for below median price in Redlynch.
But like many of the affordable properties dotted around the region, Ms Culhane said she was close to a contract signing.
“I have someone at the moment who has put an offer on the table and we’re negotiating,” she said.
“It’s a good property (and) Redlynch is one of those suburbs which attracts a lot of interest.
“You don’t have a major problem to get into town, it is serviced by two very good schools and has always been a good property area for families … “
The three-bedroom house on a 920sq m block, which is located at the end of a cul-de-sac, is priced in the high $300,000s, while the median house price for the suburb sits at $405,000.
BARGAIN BUYS
13 McCANN CLOSE, EDMONTON
Price: $230,000
Three-bedroom house, one bathroom on a 738sq m block.
Edmonton median house price: $315,000
277 PEASE ST, EDGE HILL
Price: Mid $200,000s
Three-bedroom house with one bathroom on a 809sq m block
Edge Hill median house price: $415,000
29 CHRISTENSEN ST, MACHANS BEACH
Price: High $200,000s.
Three-bedroom house, one bathroom on 1214sq m block.
Machans Beach median house price: $325,000
1 ROSEWOOD CLOSE, REDLYNCH
Price: Mid to high $300,000s
Three-bedroom house with one bathroom on 920sq m block.
Redlynch median house price: $405,000
RECENTLY SOLD: 104 RIVERSTONE RD, GORDONVALE
Price: $229,000
Three-bedroom house with one bathroom on a 1012sq m.
Gordonvale median house price: $305,000