Loss making Eagleby townhouse $215,000 sale Brisbane's cheapest weekend sale
Jonathan ChancellorDecember 7, 2020
Queensland's cheapest weekend auction result was a townhouse at Eagleby - sold at $64,000 less than its last sale.
The three bedroom 98 sqm townhouse at 63/175 Fryar Road sold at $215,000 through LJH Beenleigh.
It was marketed as having a possible rental return of $330-$340 per week, reflecting an 8 per cent yield.
It last sold in 2007 at $279,500 on its completion.
It is not the first in the complex to sell for less as another sold at $290,000 on completion has sold recently at $227,000, an even bigger loss.
There are around 100 townhouses in the scheme with resales at losses now totalling 15 or so.
Records show another sale matched the purchase price with just two vendors recorded as making gains of around $10,000 over the years.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.