The market is flying as buyers ramp up demand

first_imgThe home at 11 Frenchs Rd, Petrie, Brisbane.Properties in Petrie have been barely hitting the market before they’re sold, according to Mark Rumsey, sales director at David Deane Real Estate.“It’s absolutely flying — I’ve just had three properties listed last week that all sold within the week — all in multiple offer situations and all selling well beyond the listed advertised price,” he said.Mr Rumsey said the sale of 11 Frenchs Rd, Petrie for $400,000 on November 8 was typical of the hot conditions.More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019Inside the home at 11 Frenchs Rd, Petrie, Brisbane.“It hit the market and sold before we even had an opportunity to show it — it was an investor up in Bundaberg — and it sold on the Friday before the first open home. It was a significant enough offer beyond the list price,” he said.The lowset home had a secure 12-month tenancy that was producing a good yield. Mr Rumsey said the renovated home was right in the investor sweet spot.“It flew out the door,” he said.Mr Rumsey said there was a good cross section of buyers in the Petrie market.“Certainly the university has had some impact but it’s a combination of families and investor. I think it’s going to keep chugging along nicely next year,” he said.last_img

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