Ipswich house sale at a loss
Staff reporterDecember 8, 2020
An $182,000 sale in Brisbane's Ipswich region was the nation's cheapest weekend auction result.
It last sold at $199,000 in 2013.
The 5 Melbourne Street, Brassall offering was three bedrooms on stilts on an 810 sqm block.
"It's big, ugly and neglected but very recoverable and could be a real steal," was the marketing pitch.
The Raine & Horne agent had notified interested parties that council planning indicates that some flood water did come onto a portion of the block in 2011 - about ankle deep at the lowest point of the block.
Council records indicated that the flood water was 5.2 meters below the eaves of the home which had sold at $199,000 in 2013.
The official land value was recently put at $125,000.