This Queenslander Hits Market For +$1m More Than It Sold For In June
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This Queenslander Hits Market For +$1m More Than It Sold For In June

The stylish residence features a wraparound terrace, an outdoor kitchen and a pool.

By V. L Hendrickson
Thu, Jan 27, 2022 11:44amGrey Clock 2 min

Known as Trevallyn, the five-bedroom residence in Chelmer was built in 1905 in the Queenslander style and features a corrugated iron roof and a wraparound veranda, hallmarks of the style, and has been “skillfully restored,” listing agent Tyson Clarke of Queensland Sotheby’s International Realty said in an email.

The home is located on “one of the area’s most prestigious streets with a lot of recent big sales,” Mr. Clarke said.

“The owner’s price expectation is around [$5.5 million], however the market is already dictating it will likely be higher than that,” he said. “We are seeing sales circa 10% higher at the moment, so anywhere between that and possibly toward the $6 million mark.”

It last traded in June 2021 for $3.9 million, according to property records. If it sells for $6 million, it would be a 35% price jump in less than a year. The home is registered to a limited liability company, and Mansion Global could not determine who is behind the company. 

The residence “has been fully renovated by one of Brisbane’s top architects, Joe Adsett, to be a completely modern prestige home while maintaining all the historical aspects and charm of the original,” Mr. Clarke said.

Period details include the hardwood floors, tongue-and-groove walls and tall ceilings, according to the listing. The front door is also original to the residence.

The open-floor plan includes a living and dining area and an updated kitchen with a butler’s pantry, island and Smeg appliances, with Calacatta marble throughout, according to the listing. It opens to the covered veranda, which has an outdoor kitchen and overlooks the lawn and 10-metre lap pool.

The main bedroom features a custom dressing room and an en-suite bathroom with Italian tiles and a brass bathtub imported from the U.K.

There’s also a library office with a wall of bookshelves and a ladder, a wine cellar and a lower level with a bedroom, bathroom and a kitchenette. Plus there’s covered parking for up to four cars.

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Most economists and the major banks are predicting a rise of 25 basis points will be announced, although the Commonwealth Bank suggests that the RBA may take the unusual step of a 40 basis point rise to bring the interest rate up to a more conventional 3.5 percent. This would allow the RBA to step back from further rate rises for the next few months as it assesses the impact of tightening monetary policy on the economy.

The decision by the RBA board to make consecutive rate rises since April last year is an attempt to wrestle inflation down to a more manageable 3 or 4 percent. The Australian Bureau of Statistics reports that the inflation rate rose to 7.8 percent over the December quarter, the highest it has been since 1990, reflected in higher prices for food, fuel and construction.

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“Many of the drivers of high prices are starting to be resolved. Shipping costs are now down almost 90 per cent from their October 2021 peak (as measured by the Baltic Dry Index), while crude oil prices have almost halved from March 2022. China is back open and international migration has started up again. 

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