Ocean-front paradise sells for a song at Zilzie auction
MILLION dollar views sold for a bargain basement price when a 1970s property at Zilzie went under the hammer on the weekend.
On the market for just five weeks, the property at the end of a cul-de-sac, overlooking the ocean is at no risk of ever losing it’s spectacular view.
Agent Lindsay Lodwick from Ray White Yeppoon said the home at 4 Ocean St was the latest in a long string of properties to sell on auction day.
“I can’t remember last auction we didn’t sell under the hammer,” Mr Lodwick said.
“Auction clearance rates have been excellent, spurred on by the rental vacancy rate.
“I haven’t seen this much confidence since 2012.”
He said the real estate market was showing good demand at the southern end of the Capricorn Coast but the highest demand remained closest to Yeppoon CBD.
The Zilzie property was in a “fabulous position in a really good location” but although the house had good bones, it was in original condition with very little done to it since it was built in the 1970s.
According to Mr Lodwick, most of the interest was from Rockhampton buyers as were the two registered bidders on the day.
Bidding opened up at $280,000 but bumped up pretty quickly to the final sale price of $365,000.
In such a unique location, with a million dollar plus property next door but on a small 488sqm block, Mr Lodwick said it was a difficult property to value.
“That’s why we went to auction,” he said.
“I was happy with the result on the day and thought it was a fair price.
“It was liveable but it needed work.
“A lot of people looked at it for land value only and factored in the price of removing the house.”
It’s believed the new owners from Rockhampton plan to renovate the house to use as a beach house long term.