Surging market pays off for Ray White boss
ONE of Queensland’s most prominent real estate i dentities has given the ultimate show of faith in the rising market – by listing his own home for sale.
Ray White chief executive Peter Camphin and wife Jane rode the “emotional roller-coaster” of selling as they prepared to take their Chapel Hill home of 15 years to auction this weekend through marketing agent Michelle McLeod, of McLeod Partners, Ray White Toowong.
However, with three offers made on the home prior to auction, Mr and Mrs Camphin sold the property this week to a Perth buyer.
Although reluctant to reveal the price, Ms McLeod said the home was sold for more than $1.2 million.
“It was a hard decision (to sell prior to auction) because both Peter and myself are pro-auction,” Ms McLeod said.
“We had a n i nte r e s t e d b uyer who wouldn’t be able to attend the auction as he was in Perth.”
It was a reminder of what it’s like to be on the other side of the coin for the boss of one of the state’s largest real estate franchise groups.
“As a vendor you need to be ready to receive an absolutely brutal assessment of your home,” Mr Camphin said wryly.
The couple are downsizing to a home in Paddington, which they have just finished renovating.
“The rising market we’re in at the moment added to the motivation,” Mr Camphin said.
RP Data figures showed there were only nine houses sold in Chapel Hill in the 12 months to November, with a median sale price of $620,000, which has risen 4.9 per cent annually over 10 years.
The four- bedroom, three- bathroom split- l evel home at 7 Columbia St has a home office, games room on its own level, lounge with fireplace, seating and dining plus a built-in day bed, wine cellar and outside is a 10m salt water in-ground pool.
Ms McLeod said that the real estate market had “taken off” this month.
“We’ve had phenomenal inquiries on every single property,” she said.
Ray White chief executive Peter Camphin (above left) has sold his home at Colombia St, Chapel Hill (top and above right).