Being an absentee owner, I have entrusted management of my Brisbane property to Rental Trends for a number of years now. All dealings I have had with Ann and her team have met my expectations over this time, and I would highly recommend Rental Trends for their professional management in protecting all property interests. Dan Phillips
IT might not be at the top of everyone’s wishlist this time of year, but all Bruce and Maureen Eastland really want for Christmas is to sell their home.
And they’re not alone.
Brisbane-wide, the average number of days on market for a house is 34, and for a unit, 61, but for some particularly patient Queensland property owners, it’s a different story.
Their properties have been on the market for well over a year, and some even longer.
Research from realestate.com.au shows that more than 580 properties — within just 20km of Brisbane’s CBD — have been listed on the market since 2016.
More than 50 homes have been listed for sale for a year or more and sixteen have been on the market for more than 18 months.
The Eastlands’ home at 23 Mabel Street, Oxley, has been on the market for more than 260 days.
The property is on a massive 1492 sqm block and is currently rented by room for $1000 a week.
It has five bedrooms, two bathrooms, two kitchens, accommodation for six cars, two 5000L water tanks and 26 solar panels.
Despite this, and the fact it offers both an investment and development opportunity, the property still hasn’t sold.
“It has serious potential for redevelopment based on what’s happening in the area,” marketing agent Alf Chrobak of Ray White Eight Mile Plains said.
“Oxley is just going gangbusters.
“The property is only a five to 10 minute walk from the train station and everyone’s building townhouses in the area.”
Mr Chrobak said the bottom level of the property was flooded in 2011, but it was fully insured and had since been rewired, repainted and repaired.
“The house is better than before it was flooded,” he said.
Mr Chrobak said Brisbane City Council had conducted significant flood mitigation in the area and the Eastlands had no trouble securing flood insurance cover in the aftermath.
The Eastlands live on a caravan on the property when they’re not using it to travel around the state, so haven’t been desperate to sell, but would love to offload it by Christmas.
“I’ve retired, so we bought a caravan and we come and go,” Mr Eastland said.
The property is for sale without a price guide, but Mr Eastland said he’d “walk away with $850,000 tomorrow”.
“We’re realising a mum and dad with two-and-a-half kids aren’t going to want it,” he said.
“If a developer gets hold of it, he’s going to make a motza.”