Most of us can’t make $300,000 in only a few months but this Brisbane homeowner did — by doing nothing more than buying well.
While Brisbane’s median house price growth may have been minimal in the past 12 months, there’s still properties that are proving to be veritable goldmines, with homeowners pocketing hundreds of thousands of dollars in only a few short years – or in some cases, months.
In Indooroopilly, the owners of a four-bedroom, two-bathroom contemporary home at 26 Castile St have made a staggering $279,712 in less than eight months.
The owners of 26 Castile Street, Indooroopilly made nearly $280,000 in less than eight months. Photo: Supplied
Located in the sought-after St Peter’s Lutheran College precinct, the owners purchased the house in March this year, paying $1,770,288.
After putting it back on the market only a few months later, the owners were inundated with offers and a family relocating from Sunnybank snapped it up for $2.05 million.
Emil Juresic of NGU Real Estate said the secret to making such huge amounts on a property in only a short time was all in the marketing campaign, although he admitted a profit like this in a matter of a few months was highly unusual.
The owners of 91 Elliot Street, Hawthorne, made $450,000 in only two years. Photo: Supplied
“You don’t make this much so quickly every time,” he said. “Of course, this was a wonderful property in a great location, very close to schools and the golf course.
“What I would say it that it sold for good money — the new owners have certainly not overpaid.”
Mr Juresic also last week sold 91 Elliott St, Hawthorne, for $2.65 million. The owners had bought it in 2015 for $2.2 million — that’s a $450,000 profit in only two years.
The living room at 91 Elliot Street, Hawthorne. Photo: Supplied
“Our campaign was very aggressive — we had 220,000 people watch the video of the house,” he said.
“Everybody knew the house was for sale. That’s pivotal.”
At Bellbowrie, the owners of a three bedroom house on five acres of land pocketed $214,500 profit after two years, selling their Sugars Road property for a record price.
101 Sugars Road, Bellbowrie, is five acres of flat acreage, with a price guide of $960,000 to $1.02 million. Photo: Supplied
They had paid $784,000 in 2015. Last month it settled for $998,500 — the highest price ever paid for a three bedroom house in Bellbowrie, agent Reuben Packer-Hill of McGrath Paddington said.