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This three bedroom property at 35 Magnolia Street, Holloways Beach, looks like the ultimate “renovators delight”. It was auctioned by RE/MAX on March 28. Picture: Supplied
ANYONE doubting the strength of the Cairns property market need look no further than a robust $391,000 paid for a run down property at 35 Magnolia Street, Holloways Beach.
Perhaps the new owner has knock down, rebuild plans for the shabby home which is on a 710sq m block and not far from the beach.
It was sold at auction.
This three bedroom property at 35 Magnolia Street, Holloways Beach, looks like the ultimate “renovators delight”. It was auctioned by RE/MAX on March 28. Picture: Supplied
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This three bedroom property at 35 Magnolia Street, Holloways Beach, looks like the ultimate “renovators delight”. It was auctioned by RE/MAX on March 28. Picture: Supplied
The kitchen is advertised as being well appointed and the property has a single carport and a garden shed.
There is a sadly neglected pool on the property, which last changed hands in 2006 for $300,000.
This three bedroom property at 35 Magnolia Street, Holloways Beach, looks like the ultimate “renovators delight”. It was auctioned by RE/MAX on March 28. Picture: Supplied
The street price record is $780,000 for 1 Magnolia St, sold in 2013.
House prices in Cairns have steadied slightly over the last quarter but the Far North market is still on an upward trend with a four per cent median price rise over the last 12 months.
Home prices have fallen by 0.68 per cent over the past quarter, the PropTrack home price index shows.
This three bedroom property at 35 Magnolia Street, Holloways Beach, looks like the ultimate “renovators delight”. It was auctioned by RE/MAX on March 28. Picture: Supplied
RE/MAX director Ray Murphy said demand still outstripped supply in Cairns.
“This just shows the market in Cairns is still very positive and an active market – we still have more buyers than properties available,” he said of the data.