Two bidders battle it out for renovator’s dream
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The home at 482 Oxley Ave, Redcliffe sold under the hammer.A TWO-BEDROOM cottage in need of some TLC has sold under the hammer in Redcliffe. Crown Properties marketing agent Ian McLachlan said 482 Oxley Ave was a deceased estate that attracted strong interest during the marketing campaign.Three bidders registered for the auction. “Bidding started off relatively low at $220,000,” Mr McLachlan said. “There were two people bidding against each other and the price quickly increased. “It was declared on the market at $300,000 and sold bang on that amount.” More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019Mr McLachlan said he was seeing interest from interstate investors, as well as local buyers and people from closer to the city, who were looking for affordable property deals. “The market is really good. We’re selling a lot of stock,” he said. “People are prepared to travel now with the infrastructure here like the train line. And the lifestyle is one of the major draws.”Mr McLachlan said that in Redcliffe demand was starting to outstrip supply. “We’re seeing multiple offers on properties and people are paying full price,” he said. “We’re getting calls every second day with agents wanting to bring people through our properties because they don’t have stock. “And given the minimal stock, prices are only going to go up.”According to CoreLogic data, the median house price in Redcliffe has increased 9 per cent in the past year to sit at $425,000.