The Chelmer real estate market has made headlines with a breathtaking sale. Within mere days of being listed, a riverfront mansion at 116 Queenscroft St, Chelmer, has fetched an astounding $8.45 million, smashing records and setting a new real estate record for the suburb.
The sale now stands as the second-largest residential transaction in the history of Chelmer, showcasing the undeniable appeal of this picturesque riverside community.
Photo Credit: Properstar
The property, a spacious family home nestled on a sprawling 1923-square-meter parcel of land, has been part of Chelmer’s landscape since its acquisition in July 2010 for $5.35 million by the previous owners. Their decision to downsize has sparked this incredible sale, which underscores the vibrancy of Chelmer’s real estate market.
Photo Credit: Properstar
Local real estate agents Heath Williams and Ann-Karyn Fraser collaborated to market this property, and the results were nothing short of astonishing. A local family from the Chelmer area emerged as the successful buyer, securing the property just 12 hours after it was listed. Such swift action underscores the intense competition in the market, as two eager buyers submitted offers within days.
Photo Credit: Properstar
What makes this mansion truly exceptional are its features—a luxurious five-bedroom, five-bathroom layout, complete with an inviting infinity pool and lounge deck, a private pontoon, a wine cellar, and roomy garaging for four vehicles. Its north-facing orientation, immunity to flooding, and idyllic riverfront location undoubtedly contributed to its allure.
Photo Credit: Properstar
According to Heath Williams, the limited availability of comparable properties in Chelmer, coupled with economic stability and stagnant interest rates, has motivated buyers to seize opportunities. “There’s limited stock, and I think everyone’s gotten tired of waiting for the world to collapse and are just getting on with it. There’s a lot of activity suddenly. Interest rates have been on hold for a while now, so people are seeing it as safe to wade back into the water.”
Photo Credit: Properstar
This record-breaking sale follows Mr. Williams’ previous success in the Chelmer market when he brokered the $8.8 million sale of 37 Morley Street two years ago. Additionally, a historic home at 44 Moreton St, New Farm, recently sold for a sum higher than its asking price of over $4.1 million.
Photo Credit: Properstar
The ongoing success of Chelmer’s property market continues to captivate its residents and reaffirms the enduring appeal of this charming riverside community.
Published 08-October-2023
