14 June 2017

Residential Property Townsville - Top Sale Price Winner of the Week $775,000

Image: TREN eMagazine - Top Price Winner of the Week
This week’s winner

16 Ballard Street Mysterton

This week’s residential property Top Price Winner of the Week features a contemporary design renovation embedded in an architectural heritage suburb with a reputation for majestic Queenslanders.
Image: 16 Ballard Street Mysterton - Sparkling swimming pool
Photo thanks: www.realestate.com.au and McGrath Estate Agents

This “masterpiece” home is a modern design over two stories and it ticks all the boxes for families with generous open living areas, spacious deck, pool and plenty of room to play with the kids and pets on a large quarter of an acre block just a short walk to shops and schools.

Anyone might have guessed from the beautiful presentation and excellent photography by the estate agent, Karyn Voevodin, and the McGrath Estate Agent’s exclusive photography team, that this contemporary bungalow Queenslander could have been mistaken for a new construction project.

Instead, the home is an excellent model for the savvy investor and skilled tradesperson that can execute a masterful renovation while residing at the home as a local owner-builder, and on this occasion, and local master cabinet maker too.

Image: 16 Ballard Street Mysterton - Rear yard, shed and pool deck -
Photo thanks: www.realestate.com.au and McGrath Estate Agents
Ms. Voevodin said, “The location is second to none and the contemporary design with Queenslander tone in the louvers and polished timber floors set off the property beautifully.”

The sale price of this Queenslander inspired property closed at $775,000, well above the current median price for the suburb of Mysterton being $382,000.

The delightfully humble Ms. Voevodin feels that a quality property with modern and contemporary fittings and features with traditional Queenslander characteristics like this property could achieve a price in the near future over the $800,000.

“Interest in the property has been strong”, Ms. Voevodin said.

The property

The centrally located “masterpiece in Mysterton” is situated in one of Mysterton's most prestigious tree-lined streets.

Image: 16 Ballard Street Mysterton - Front aspect-
Photo thanks: www.realestate.com.au and McGrath Estate Agents
“This beautifully appointed master crafted home has been expertly finished and boasts the highest level of luxury that not only complements the design but ensures it is the ultimate in contemporary family living”, the property agent said.

The property also features:
  • Open plan living and dining with cleverly designed layout
    Miele appliances and butler’s pantry fit for a gourmet kitchen
  • Deluxe master bedroom en-suite with dual (his and her) basins and a freestanding bath
  • Upstairs and downstairs living including lounge and downstairs theatre room
  • Bedrooms with excellent scale of space with built-in and walk-in robes
  • Sparkling swimming pool supervised by a fabulous entertainers patio
  • Large powered shed, manicured lawns, fire pit and gardens with side access
  • Lock up remote garage
  • Block of land is 1075m2
  • Modern energy efficiency features including solar power

In addition, the property also boasts proximity and privacy.

The Mater Hospital, popular schools such as the Pimlico High School and St. Margaret Mary College and shopping is less than 1 kilometre in close proximity to the home.

Access to all of Townsville's fabulous lifestyle features is within a 5 to 10-minute drive from this property.

Investment profile

The suburb of Mysterton is one of the smallest suburbs in Townsville with 834 people based on the 2011 census.

The suburb has a current median house price of $382,000 and over the past 12 months has recorded a median house price of $374,000.

Due to the low volume of sales data and small size of the population sample in the suburb, it is susceptible to anomaly sales trend data based on the variations in sale prices that can sometimes occur with a limited pool of information.

Image: Google Map - Mysterton, Townsville
Recording a sale price of $775,000, 16 Ballard Street will impact the median sale price for the area significantly as it is $393,000 above the current median sale price for the suburb.

Over the past 12 months the median house price has declined by 14 percent and over the past two years, the suburb has experienced a 28 percent drop in the median house prices.

This property shows one type of investment opportunity that works in the Townsville property market in spite of the reported tough economic conditions. 

Driven by a clear investment strategy of excellent design, craftsmanship and marketing expertise, this property was purchased for 380,000 with an estimated value-add of nearly $400,00 in less than seven years.  

Between January 2016 and May 2017, a total of 14 house sales has occurred. Only one unit sale has been recorded in this time.

The median house rental price in Mysterton is $368 per week. Units have a 12-month median rental price of $188.00 per week.

The residential house yield for Mysterton is approximately 5 percent.

Over the past 12 months, 15 rental houses have been tenanted. Only 5 houses are on the market for rent today.

The demographic profile of Mysterton is popular with couples with children representing 42 percent of the market. Middle age and mature age and older independents make up approximately 20 percent of the suburb.

Mysterton is less affordable than other suburbs on the outer radius of Townsville, as elderly and young families make up less than 1% of the demographic population of the suburb.

In its earlier history, the area was known as St. Johns Wood Estate until the 1920s when another subdivision called Mysterton Estate was built, from which the suburb claims its name today.

Compare last week's winner

Further reading:

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