Home / Business and Economy / Hoarder House Sells for Over $1 Million
Hoarder House Sells for Over $1 Million
17 Feb
Summary
- A hoarder house in Brisbane sold for $1.28 million at auction.
- The property was inaccessible and deemed unsafe for inspections.
- Demand for land is intense, with housing prices predicted to rise.
A hoarder property in Brisbane's affluent Brookfield suburb has achieved a sale price of $1.28 million at auction. The one-hectare Nioka Street site was extensively cluttered, rendering it invisible in aerial views and inaccessible by car. Buyers were prohibited from inspecting the interior due to the overwhelming amount of hoarded material, estimated at hundreds of kilograms.
The property was sold on an 'as is' basis, with the swimming pool considered irreparable. The house itself is a four-bedroom brick structure with additional rooms and a double carport. Despite the considerable work required, 130 attendees and 40 registered bidders competed for the land, with buyer Nic Vukovic securing the property for $1.28 million.
This sale underscores the significant demand for land in Australia, with Brisbane housing prices forecasted to increase by over 10% this year. National house values are also expected to see substantial growth. However, new housing supply is falling short of targets, exacerbating affordability issues.
