Tuesday, 9 March 2021

Landmark Gumdale acreage property sees hundreds line the street for a peek

A Landmark Gumdale acreage property in Brisbane’s eastern suburbs has laid bare the real estate frenzy that is playing out across south-east Queensland, after more than 300 people queued up to see inside what buyers from across the globe have described as their “dream home”.

The luxury Cape Cod-style lifestyle estate set on 2.5 acres (about one hectare) at Grassdale Road, Gumdale has long drawn the admiration of locals and, according to agent Fraser Evans, of Remax Results, countless written offers in the letterbox from hopeful off-market buyers — but he was still stunned to see the turnout at the open home on Saturday.

“Three hundred people at an open home: I’ve never see anything like that. We allocated 45 minutes for it but we had a line-up down the street of people waiting to get in, half an hour beforehand,” Mr Evans said. “Most homes couldn’t fit 300 people for an open but because this house is so big and on 2.5 acres, we were able to do it.

“That’s a record in this district and certainly in anything that I’ve ever seen in my career.”

Mr Evans described the unprecedented interest in the property as “a perfect storm”.

“There’s been a lot of interest in acreage since covid due to people’s change in lifestyles, but this is coming from buyers everywhere, it’s caught the attention of people from every corner: local, interstate and international buyers,” he said.

The property’s massive open-home turnout is set against the backdrop of Brisbane’s red-hot property market — recent analysis of internal data by Domain found Brisbane’s open-home numbers are at record levels.

A combination of low stock, even lower interest rates, wage growth and a global pandemic have catapulted Brisbane’s typically slow-moving property market into the stratosphere, sparking a once-in-a-decade boom that experts say could fuel a further 10 per cent rise in house prices in the coming year.

per cent across the city in a month, while in the eastern suburbs, where Gumdale is located, house prices had risen a massive 10 per cent over the past 12 months.

Landmark Gumdale acreage

Positioned in one of Brisbane’s premier acreage streets, the property features six bedrooms, a pool house overlooking a pool and full-size tennis court, luxury bespoke interiors and a 10-car garage, all framed by landscaped gardens.

“Anyone who drives past it falls in love — it has that timeless appeal, right from the outside with its stone fence. It’s quite spectacular,” Mr Evans said.

With only 1000 acreage properties in the Gumdale/Chandler/Belmont neighbourhood, and the closest acreage to the CBD, Mr Evans said interest in the precinct had skyrocketed over the past year.

“We’re seeing that shift more than ever to people wanting the full package to entertain and just be at home. Everyone wants their own estate, where they can live, work and play,” he said.

Last year, a neighbouring property dubbed the “James Bond House” for its 22-car garage in a street that runs parallel to Grassdale Road, set a record for the area when it sold for $5.1 million.

281 Grassdale Road, Gumdale, will go to auction on site on Saturday, March 27, at 10am.

 

Article Source: www.domain.com.au



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