In news that has shocked residents, neighbouring houses on a Newmarket Street have sold for more than one million dollars each.
The three-bedroom home at 42 Willmington Street, Newmarket, went to auction earlier this month, and after seeing the price it fetched, the owners of 40 Willmington Street decided to sell as well.
NGU Real Estate agent Moses Nguyen said the homes both sold for more than $100,000 above expectations.
“It was a great result for Newmarket, and shows the median house price is going up for the suburb,” he says. “The owners of 42 expected $1.1 million at auction, and got $1,235,000.”
“The owners of 40 had only just begun considering selling, but the market is so hot right now that they followed our advice, and actually sold it just three days later.”
In a surprise twist, the new owners of 40 Willmington Street had bid on number 42, only just missing out, and the former owners of number 40 are renting 42 Willmington Street off its new owners while they continue their property search!
The classic Queenslander at 40 Willmington Street sold for $1.16 million off market, with the new owners quickly moving into the three-bedroom home.
“While number 40 is a proper Queenslander, 42 is a replica Queenslander,” Moses says. “Both have been completely redone inside, some fantastic renos.”
“It felt great being able to sell two homes next to each other. It was an amazing result and generated a lot of interest from the neighbours.”
Both properties have the most important features for a Queenslander – high ceilings, timber floors, and a spacious deck. There’s plenty of land out back too, with room for terraced yards, a shed for number 40, and a firepit for 42!
The median price for a house in Newmarket is now $1.02 million, according to CoreLogic, an increase of 0.3 per cent over the past few years.
Moses says the suburb is attracting increased attention from young people due to its enviable location and amenities.
“We’re seeing a lot of young couples looking to get into the area, putting down roots, ready to start a family,” he says. “And savvy sellers are taking advantage.
“If they have future plans to sell, like the owners of 40 Willmington Street, they’re likely to change them to take advantage of the immediate market, and it’s getting them stupid money.”
42 Willmington Street, Newmarket, Qld 4051
40 Willmington Street, Newmarket, Qld 4051
Chris Foenander – 0481 601 783
Moses Nguyen – 0433 397 801
NGU Real Estate Toowong