Record $795K sale for Augustine Heights property
A FOUR-BEDROOM property at Augustine Heights has achieved a new sales record for the area after it was snapped up for $795,000.
Situated on a 478 sqm lot, 106 Conte Circuit proved quick to sell under the guidance of Madu Senanayake and Teekay from Team Estate Agents.
It took just eight weeks for the home to be purchased by a young family.
“This property was actually on the market with a couple of other agents previously,” Teekay said.
“We had it marketed just before Christmas and sold with an unconditional contract this year after a couple of negotiations.”
Mr Teekay said it was likely the home sold quickly due to an increased number of interstate buyers seeking to relocate to the southwest corridor.
“Calls for interstate buyers have amped up a lot more recently, we’re dealing with them every single day now,” he said.
“There is a big migration trend towards Queensland, part of that is our management of COVID.
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“Competition is also really starting to drive the prices; people are starting to understand that they can’t wait around.
“They’ve got to snap it up when they can.”
The new owners had been looking for more space to cater to their growing family, while its former owners were keen to downsize.
Despite the record price, Mr Senanayake said similar properties in the area would typically fetch between $720,000 to $750,000.
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“We had the right buyer, someone who fell in love with the property because of its quality, including the details and how much effort was put into building it,” he said.
“We had other offers on this, but the buyer that stood out, they just wanted it.
“They saw potential to put a pool in as well and to really make the property their own.”
Four other properties have sold in Augustine Heights since the start of the year.
It was a 532 sqm property at nearby Zamma St which fetched a price closest to the new record at $649,000 – close to $150,000 less.
“There’s a lot of a first-home buyers putting their mind toward getting into property market, then there’s a lot of people who have gone through that in the last number of years, who are now looking to upsize,” said Mr Teekay.
“Even developers have found that things are getting snapped up pretty quickly because people have saved up their money and are ready to go. “
He expected similar sales to become a regular occurrence for the area.