It’s the ‘worst house on the street’ and is described as uninhabitable. But this Brisbane home just sold for a seven-figure sum
An uninhabitable house has sold at auction for more than $1.45 million.
The property on Deighton Road in Dutton Park, south Brisbane, was snapped up by an enthusiastic buyer when the house went under the hammer on November 10.
Although you can’t actually live in the four-bedroom house, there is council approval to completely renovate the property.
A spokeswoman for selling agent Ray White told Ny Breaking Australia there was a “fairly busy auction” with seven bidders competing for the property at one point.
One reason the property was so hotly contested at auction was its massive 810sqm block which is just 3.4km from central Brisbane or a 10-minute drive.
An abandoned house in Brisbane’s Dutton Park (pictured) has fetched $1.45 million after going under the hammer on November 10
The real estate listing described the structure as an opportunity for homeowners to “unleash” their “architectural creativity.”
“The current structure is not habitable, but do not worry as plans are being explored to remove the house,” the ad said.
Ray White said properties in Brisbane attract an average of 3.5 bidders and said the house would have been attractive to families with Brisbane South State Secondary College nearby.
The house is approximately half an hour’s walk from the famous Gabba cricket ground.
The Princess Alexandra Hospital is also nearby and there are several schools in the area.
The property is the latest of a number of dilapidated homes on the same street that have done well at auction.
The house at 49 Deighton Road (pictured) is just over ten minutes away from the Brisbane CBD and also within walking distance of The Gabba
The property’s listing describes the house as an opportunity for residents to “unleash” their “architectural creativity” through demolition and reconstruction.
A house at 50 Deighton Road, dubbed ‘Australia’s worst house’, sold on the same street in 2015 for $668,000.
The termite infested home sold for $168,000 above the reserve price.
The real estate agent who sold the house at the time described the property as a house that is ‘as bad as it can be’.
Remarkably, the home was listed for a staggering $1.599 million in 2019 after a major renovation.
Another house on Deighton Road (pictured) was for sale in 2019 for a price of $1.599 million
The run-down property (pictured), which previously sold for $668,000, was dubbed ‘Australia’s worst house’
Domain’s latest quarterly house prices report showed the average price for a home in Brisbane was valued at $848,752, up 1.4 per cent.
However, the average price of units in the city rose sharply by 1.7 percent to $495,143.
Prominent economist Chris Richardson told ABC’s Q&A program on Monday that Australia has failed miserably on housing over the past four decades.
Mr Richardson said migration must be slowed and more houses built to stem the boom in house prices.