SOLD: 8 Mamalis Street, Gracemere, settled yesterday after selling for $500,000.
SOLD: 8 Mamalis Street, Gracemere, settled yesterday after selling for $500,000.

Gracemere records highest property sale in four years

GRACEMERE has recorded its highest residential sale in the past four years with 8 ­Mamalis Street, settling yesterday after selling for $500,000.

Mr Real Estate sales consultant Daphne Offord said this sale was the highest ­residential sale in Gracemere, excluding acreage, in the past four years.

Mr Real Estate sales consultant Daphne Offord.
Mr Real Estate sales consultant Daphne Offord.

“For the past four years we haven’t been able to get ­anything over $400,000,” she said.

“Before the mining downturn homes were selling for about $460,000-$480,000, but nothing over $400,000 after that.

“Things are improving well and truly.

“People are getting the confidence to buy in Gracemere again.

“In the past 12 months we have had a few sales over $400,000, and 8 Mamalis Street takes the cake at half-a-million.”

Described as a “resort style” home, 8 Mamalis Street is situated on a 947sq m block and features four bedrooms, two bathrooms, a large shed and inground pool.

It was the highest sale in four years.
It was the highest sale in four years.

Ms Offord said five people had shown interest in buying the highly sought after home, and each could afford it.

“It was a matter of first in best dressed,” she said.

In the end it was a young Rockhampton family that snapped up the home.

“They were interested ­­in moving up in the market and the husband also works from Gracemere, so it was easier and more convenient,” Ms Offord said.

“They could just see the lifestyle for them and the family.”

The modern home had five potential buyers.
The modern home had five potential buyers.

Ms Offord said the ­Gracemere market was looking more positive, with the top end becoming very fruitful.

“There is a lot more interest with people looking at homes and buying,” she said.

“Prices haven’t improved that much, but something that has got everything and amounts to good value just gets snapped up.

“The rental market also has a 1.7 per cent vacancy rate, so people really have no other choice but to consider buying.

“I think in the next 12-18 months we will see a big improvement.”