Landmark Gumdale acreage property sees hundreds line the street for a peek

A Grade I listed property in the eastern suburbs of Brisbane exposed the real estate hype in southeast Queensland after more than 300 people queued to see what buyers from around the world have called their “dream home”.

The luxurious Cape Cod-style lifestyle estate spanning approximately an acre on Grassdale Road in Gumdale has long attracted the admiration of the locals and, according to Remax Results’s agent Fraser Evans, has drawn innumerable written offers in the mailbox of hopeful austerity – market buyers – but he was still stunned to see the turnout at the Open Home on Saturday.

Cars line the road for the Open House at 281 Grassdale Road in Gumdale. Photo: Elizabeth Quinn

“Three hundred people in an open house: I’ve never seen anything like it. We allotted 45 minutes for it, but we had a number of people waiting to get in half an hour before, ”said Evans. “Most houses couldn’t accommodate 300 people for an open house, but because this house is so big and on 2.5 hectares, we could do it.

“It’s a record in this district and certainly in anything I’ve ever seen in my career.”

Mr. Evans described the unprecedented interest in the property as “a perfect storm”.

“There has always been a great deal of interest in acreage due to the changing lifestyles of people, but this is coming from buyers everywhere, it has caught the attention of people from every corner: local, interstate and international buyers,” he said.

The property’s massive open home stake is set against the backdrop of the brand new real estate market in Brisbane. Domain’s most recent analysis of internal data found that Brisbane’s open home numbers are at record levels.

A combination of low inventory levels, even lower interest rates, wage growth and a global pandemic has catapulted Brisbane’s typically slow real estate market into the stratosphere, sparking a once-in-a-decade boom that experts say could fuel another 10 percent rise in house prices in the coming year.

CoreLogic numbers released last week found property values ​​in the city increased 1.5 percent in one month, while property prices in the eastern suburbs, where Gumdale is located, have increased in the past 12 months rose by a massive 10 percent.

281_grassdale_rd_gumdale3_j18qnw281 Grassdale Road, Gumdale. Photo: Remax Results

Located in one of Brisbane’s premier acreage, the property features six bedrooms, a pool house overlooking a pool and large tennis court, luxurious bespoke interiors and a 10 car garage, all framed by landscaped gardens.

281_grassdale_rd9_pw1rzv281 Grassdale Road, Gumdale. Photo: Remax Results

“If you drive past it, you will fall in love – it has this timeless charm, directly from the outside with its stone fence. It’s pretty spectacular, ”said Evans.

With just 1,000 acreages in the Gumdale / Chandler / Belmont neighborhood and the closest acreage to the CBD, Evans said interest in the district had skyrocketed last year.

“We are seeing this shift more than ever in people who maintain the whole package and just want to be at home. Everyone wants their own property where they can live, work and play, ”he said.

281_grassdale_rd7_nig88i281 Grassdale Road, Gumdale. Photo: Remax Results

Last year, a neighboring property known as the James Bond House set a record for the area for its 22 car garage on a street parallel to Grassdale Road when it sold for US $ 5.1 million. Dollar was sold.

281 Grassdale Road, Gumdale, will be auctioned on-site on Saturday, March 27th at 10am.

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281_grassdale_rd_10_jschal281 Grassdale Road, Gumdale. Photo: Remax Results