Fringe homes snapped up
Fast sales as buyers cotton on to location
A SURPRISING and recent spike in demand for “fixer-uppers” on the edge of the Cairns CBD has resulted in the quick sale of two of the city’s most dilapidated homes.
RE/MAX Cairns agent Udo Jattke sold 7 and 9 Maranoa St, Paramatta Park, within weeks of relisting them.
The properties had previously been on the market for about four years.
“This was a cash sale with a 21-day settlement after being on the market for just a month,” Mr Jattke said.
“The renewed interest indicates the considerable appeal these types of properties now have,” he said.
“There was great interest in each property, with 12 groups inspecting the sites with buyers’ intentions ranging from renovating the properties to on-trend inner-city houses or a simple conversion to commercial holding yards.
“The local purchaser has chosen to renovate these buildings and provide them with a new lease of life. The renovation work has commenced already and should be completed within four months. It’s a very exciting time for the new owner.”
Mr Jattke said he was now marketing four inner-city properties in need of repair, including two on Florence St behind the Maranoa St homes.
“Buyers are very switched on and realise once these are gone, they are gone and almost impossible to replace,” he said.
“Now is the time to buy these types of properties, as there are very keen sellers.”
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