Buyers are chasing affordable homes in Bald Hills

first_imgThe home at 15 Miles St, Bald Hills sold before auction.A Bald Hills home has sold two days before auction amid a strengthening local market.The four-bedroom home at 15 Miles St sold for an undisclosed amount. Coronis Bracken Ridge marketing agent Jack Harvey said the price was significantly more than a previous asking price when the property was with another agency. “We had quite a bit of interest in the home,” he said. “We had 12 groups through in the two weeks prior to the planned auction.”Mr Harvey said buyers were attracted to the location close to the Bruce Highway, schools and shops, and the renovator-style house. More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019He said the Bald Hills market in general was “moving along nicely”.“We’ve seen a 12.5 per cent price increase in the past three years and the average time on market is down seven days in the last year,” he said. “A lot of properties I’m listing (in the area) are selling at the first or second open home. We’re catching up with Bracken Ridge and the surrounding suburbs.” Mr Harvey said buyers were looking to Bald Hills for value and proximity to the city. “We’re seeing a lot of first-home buyers, families starting out and investors,” he said. “We are seeing significant interest from interstate investors because the numbers stack up. “They can’t buy anything 16km from the Sydney CBD for under $1 million, but in Bald Hills they can get investment properties for $400,000-$450,000, and rental demand is pretty strong and there aren’t a lot vacant properties.”last_img

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