Buyer snaps up home on The Range tops $1m before listing
AND this Rockhampton piggy located on The Range sold for more than $1million before even making it to market.
The monthly review for May by Australian property valuators Herron Todd White reports a prestigious five-bedroom home on The Range is currently under contract for over $1million and was snapped up by a buyer before it was officially listed for sale.
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HTW says the sale price is almost 40% more than the purchase price of the property in 2012 which was in the mid $900,000.
HTW property valuer Cara Pincombe said it was not uncommon for high-quality homes in popular suburbs of Rockhampton to be sold before they were even listed.
"We have seen these circumstances occur before where a purchaser is looking for a specific property and the agent finds one prior to it being listed," Ms Pincombe said.
"This house is being sold for approximately 37% more than the previous sale due to improvements made to the house and the keenness of the buyer, but there has also been some market movement that comes into effect.
"The current purchase price of this particular home is one of the most expensive homes sold in Rockhampton in recent years.
"From experience, the market sector for prestige property is relatively small and thinly traded here; $1.5million is the highest selling price for high-end Rockhampton homes but the prestige market sector averages out between $700,000 and $800,000," Ms Pincombe said.
The Empire penthouse sold off the plan in 2012 for $1.385million. This is by far the highest unit sale locally.
Prestige residential property on the Capricorn Coast is now valued at over $650,000, however a property bought in 2014 sold for $2.1million.