Bargain property in Rosslyn? Waterfront Rosslyn villa listed at $250,000 reduction
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling.
We take a look at where and if possible why this is happening.
We came across this property for consideration.
A waterfront Rosslyn, Queensland villa has been listed for $1.15 million.
This marks a $250,000 reduction on its previous sale price of $1.4 million.
Jared Hooper of Brian Hooper Real Estate is currently marketing the listing.
Situated at 5 Bayside Way, the three bedroom two, bathroom house with its own berth sits on the waters edge.
Set on 273 sqm, the villa is north east facing with harbour and ocean views.
Located 8 kilometres south of Yeppoon, the largest seaside town on the Queensland coastline, the open plan design incorporates cathedral ceilings, tiled flooring (downstairs) and full length glass walls opening on to the deck areas.
Last sold in 2005, the property transacted for $1.4 million.
The home was briefly listed in 2017 and 2018 seeking $1.25 million.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in Mount Eliza, Central Geelong, East Perth and Sydney Olympic Park.
