Queen St home latest to top million dollar mark
THE painstaking renovation of a double block on Queen St over 20 years paid off this month when the Rockhampton property sold for more than a million dollars.
Realtor Penny Keating, of Pat O'Driscoll Real Estate, said it was snapped up so quickly by a local couple, there were five other buyers in line and phone enquiries were still coming in.
"This family, who have grown children, had been looking for a long time and knew just what they wanted," she said.
"When they saw this extraordinary villa-style home, they said 'yes', just like that."
It is understood the original owners, who purchased the house block from Pat O'Driscoll Real Estate around the turn of the century, are staying in the region.
"When I first came to town there were three old wooden units standing here," Ms Keating said.
"The buyers lifted them up and built underneath to exacting standards.
"Then they purchased an adjoining block, complete with swimming pool, to create these breathtaking landscaped grounds."
Ms Keating admits she feared the worst when the coronavirus began but was surprised how quickly the local real estate market had stabilised.
"Initially people were afraid to go out and inspect properties, and I suppose we were too, but we just listened to the government and followed the rules," she said.
"If anything, we've seen more people coming back to regional areas."
Ms Keating said that even before the pandemic, she saw a lot of clients attracted to Central Queensland by job opportunities and infrastructure.
"We've heard people predict the market will drop by 30 per cent which has been proved wrong by the volume of interest in the Queen St property and others like it," she said.
"Last week we sold an exceedingly nice mansion in Gracemere for what I suspect was a record price out there."
Ms Keating said the demand for well renovated, beautiful homes had seen a dozen such properties sell for over $1m in the past year, and she expected the trend would continue.
"People who take the care to put quality back into properties in a good location will always reap the rewards come sale time," she said.
The challenge for buyers is finding land on the elevated streets of The Range, Allenstown and Wandal for sale.
"That's a niche market that's very hard to fill," Ms Keating said.
"But there are extraordinary examples of people buying older-style homes and lifting them to build the lavish brick-and-tile models which are so desirable.
"We saw that with the property on Agnes Street which was turned into a swan and sold last year for $1.8 million."
Ms Keating said newcomers to the region always told her how impressed they were by the calibre of houses, particularly along The Range but also in Frenchville.
"Taking a drive around Rockhampton, seeing all the beautifully renovated homes, paints a very good picture of what our city has to offer," she said.
"It reinforces the buyers' decision to move here to work and raise a family, and that's why our real estate market is going to remain so stable."
Other Rockhampton properties listed around the million dollar mark include another two listed by Pat O'Driscoll Real Estate - in Agnes St and Wentworth St - and a Penlington St address with Mr Real Estate.
An additional property listed by Ray White Real Estate comes in at an asking price of $990K.