Big prices and slow sales - close look at Pullenvale trophy acreages

The secluded hill-side neighbourhood of Pullenvale out of Brisbane is in the spotlight after coal tycoon Nathan Tinkler listed his magnificent acreage and there are many listings there that seem to take forever to sell.

The Tinklers are seeking to sell their indulgent four hectare acreage (pictured below) in Pullenvale for between $4 million and $5 million. Rebecca Tinkler bought the property in 2007 for $5.2 million.

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It is one of many luxurious listings in the suburb of Pullenvale, 14 kilometres south-west of Brisbane, but if the marketing campaign goes anything like their neighbours it may be some time before it sells.

A four-bedroom, four-bathroom Geoffrey Pie designed house on a four hectare acreage at 736 Grandview Road Pullenvale (pictured below) is still listed for sale.

It has been on the market for more than 18 months.

It has an undisclosed asking price, but in April last year agent Noel Elliott from Urban 8 Real Estate was looking for $4.85 million for the property.

The home includes a billiard room with adjacent bar, a 1,500 bottle wine cellar, a library, an outdoor spa, a 2 million litre dam, and a private elevator.

The vendors bought the property in 2003 for $700,000, according to RP Data.

A 7.88 hectare block of residential land at 42 Lyndale Road Pullenvale (pictured below) is listed for sale at $1.75 million plus.

It has been on the market for almost one year.

It last traded for $1.95 million in 2011 and for $2.25 million in 2010.

A six bedroom, four bathroom house on 4.05 hectares is listed for sale for an undisclosed price. Like many properties in Pullenvale it has been on the market for quite some time. The last advertised price for the property at 59 Haven Road (pictured below) was $2.75 million in 2009.

The current marketing campaign has been on for more than two years.

It includes standard Pullenvale features such as a waterfall cascading into a swimming pool and a rooftop deck.

A five bedroom four bathroom home on 3.02 hectares at 625 Grandview Road is listed for sale at $1.4 million. It last traded for $1.255 million in 2010.

It has been on the market for less than two months, according to RP Data.

One of the most expensive recorded sales recently was at 77 Herron Road, which sold for $3.55 million in June last year. It had been on the market for more than one year with an asking price of $3.95 million. 

And in September 2007 105 Herron Road sold for $6.7 million after being on the market for almost 18 months with an undisclosed price. It was bought by the former Middle Eastern boss of development firm Leighton, Laurie Voyer.

There are more than 50 listings in Pullenvale with the cheapest being a 2000 square metre vacant block at 72 Osna Place listed for $539,000.

The median house price in Pullenvale is $945,000, according to RP Data. This has dropped 10% over the last year.

The median weekly asking rent for houses is $950.

The average time on market is 128 days.

According to the Australian Bureau of Statistics the median weekly household income is $2774 - more than double the rest of Queensland.

The residents are predominantly older people, mostly Australian born but with more English and more South African people than compared to the rest of Queensland.