The prestigious Victorian home at 44 Moreton St, New Farm has sold for about one million more than it changed hands for in January 2020.
An inner-Brisbane home in a highly sought after suburb, yet with no waterfront front views and a massive fig tree in the middle of the driveway, has made its owners a million dollars profit in just 20 months.
The prestigious Victorian home, with six bedrooms and two bathrooms at 44 Moreton St, New Farm was on the market for 22 days when it sold for a whopping $4.25m in mid-October.
This property at 44 Moreton St, New Farm, sold for $4.25m.
The corner block residence on a 723 sqm lot changed hands in January last year for $3.13m and that’s despite a fig tree making access to one of two single car garages extremely difficult.
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Place Estate Agents’ Heath Williams sold the house on both occasions and said he was not surprised by the 28 per cent capital growth given how well New Farm properties had gained in value during the pandemic.
A fig tree may stand in the way of two singles garages but not in the way of the sale of 44 Moreton St, New Farm which made its owners a million dollars in less than two years. Picture: Google Maps
He said there had been no renovations or upgrades of the property while there had been a remarkable amount of interest from interstate although it was a local resident who made the successful offer.
“It’s completely 100 per cent the same as when it was bought it in January last year and we had multiple offers on it,” Mr Williams said.
The original fire place has been cleverly converted into a wine rack. Picture: Supplied
“The previous owners were from Brisbane and so are the new owners but we did have interstate buyers looking at it.
“I’ve just listed the house next door, off-market, and that is likely to sell for a bit more.”
While sales of the size can often mean waterfront views, he said the size of the land came into play for the Moreton St, home.
The well positioned pool captures all the sunlight you need for a relaxing afternoon in the large backyard at 44 Moreton St, New Farm. Picture: Supplied
“It was a decent land size too, as most people in New Farm are kind of stuck with a 405 square metre block,” he said.
“New Farm is very lifestyle-driven, it’s cafes and James St precinct and even the previous owners are staying within new New Farm after buying a place with river views.”
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