Mansfield school catchment secures tricky property sale

first_imgThis home at 204 Newnham Rd, Mount Gravatt East, sold for $581,982.A family desperate to get into the Mansfield school catchment have purchased this Mount Gravatt East home.LJ Hooker Sunnybank Hills sales consultant Brian Shin said 204 Newnham Rd home sold for $581,982 and is one of the more challenging homes he has had to market.“It’s on a main road and on a corner so it was particularly hard to sell,” Mr Shin said. “It is also fairly old and needs a lot of work.”More from newsDigital inspection tool proves a property boon for REA website3 Apr 2020The Camira homestead where kids roamed free28 May 2019The kitchen is a bit tired.Mr Shin said the buyers, a family, weren’t planning on renovating straight away, but wanted to get their child into the local school catchment.“They had been looking for a while but they wanted to send their son to the local school.”According to CoreLogic data, the median house price for Mount Gravatt East is $658,500, more than $76,000 over the price of this home.Mr Shin said his advice to sellers in the area was not to overcapitalise on their renovations.“Some people are spending a lot on renovations thinking they can get their money back, but that’s not always the case,” he said.“So I would urge them to make sure that they aren’t overcapitalising.”last_img

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