Cannon Hill Queenslander smashes suburb record on the weekend

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Jul 31, 2017

Cannon Hill Queenslander smashes suburb record on the weekend

The five-bedroom, 2003-built Queenslander sold through Meagan Muir of Place Bulimba for a Cannon Hill record of $1.32 million on the weekend.

Image: Place Bulimba.
Image: Place Bulimba.
Image: Place Bulimba.
Image: Place Bulimba.
Image: Place Bulimba.

"The (Brisbane) market really is still strong," Meagan Muir, agent with Place Bulimba, told SCHWARTZWILLIAMS when we spoke to her about her record-breaking sale at Cannon Hill on the weekend.

The five-bedroom, 2003-built Queenslander sold for a Cannon Hill record of $1.32 million. The property attracted a lot of interest, both from interstate parties, but also from locals keen to snap up a rare 520sqm family home on a 840sqm block.

The home at 62 Keats Street, Cannon Hill, has a pool, wide entrance hall, wraparound verandahs, and was on one of Cannon Hill's best streets. Muir described it as a "dream family home".

Image: Place Bulimba.

Six bidders were registered on the day, and a crowd of approximately 60 turned up at the auction. After heated bidding, the property sold soon afterwards.

Muir said there are not a lot of properties of this calibre on the market, so when they do come along, interest is keen.

Muir said Brisbane is still a seller's market, and supply of good properties is still quite thin. A few weeks ago, Muir sold a property for $965,000 within four days.

“Cannon Hill is experiencing significant demand from families and executive couples who are seeking a family-friendly suburb that’s predicted to see strong capital growth in the near future.”

The previous suburb record was held by Chris Rice with a $1.14 million sale. Rice is also an agent with Place.

Visit Luxury List to view the listing for 62 Keats Street, Cannon Hill.

Clearance rates

Victoria achieved a preliminary clearance rate of 78 per cent last week, according to REIV data, said REIV president Joseph Walton.

“This month established further auction records," said Walton. Victoria recorded the highest ever auction volumes (3,370) and sales (2,514) for July.

“Vendor confidence remains high, with at least 600 auctions held every weekend in July," the first time this has been achieved, said Walton.

“Vendors in outer suburbs saw strong results under the hammer this weekend, with City of Knox and Frankston recording clearance rates of 100 and 92 per cent respectively,” he said.

CoreLogic data shows the Sydney market continues to underperform the Melbourne market, with a preliminary clearance rate of 68 per cent revealed for the harbour city.