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Agent Cory Boyd with original owner Malcolm Mackay. Saturday 25th November 2023 Picture David Clark

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ANOTHER dilapidated home in Logan has sold for more than half a million dollars as buyers and investors in South East Queensland develop a keen appetite for renovators.

The run-down three-bedroom, one-bathroom home at 16 Forestglen Crescent, Browns Plains, sold under the hammer for $540,000.and saw a generous 32 bidders register to take part in the auction, with an opening bid of $300,000.

Outgoing owner Malcolm Mackay said the Australian record-breaking auction at 19 Billabong Drive, Crestmead, which sold for $494,700 in late October this year, inspired him to put the property on the market.

A trashed property at 16 Forestglen Crescent, Browns Plains sold at auction for $540,000 to an online bidder. Saturday 25th November 2023 Picture David Clark

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“I built this home 42 years ago, and it was our family home up until 11 years ago. When I saw the auction out in Crestmead, I thought, ‘Why not give it a go’,” Mr Mackay said.

“I’m very happy with how the sale went today.”

Principal of Ray White AKG, Avi Khan, said the sale showed how strong the property market was in Queensland at the moment.

The run-down pool at 16 Forestglen Crescent, Browns Plains Picture David Clark

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“Buyers who are missing out on other properties we have sold are coming out to auctions like this one and making successful bids. It’s a great result for our team,” Mr Khan said.
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“The new owner is an investor, and they’re going to be looking at renovating this one.

“With the Queensland government bringing in the new grant as well, we’re seeing a hive of activity from first home buyers trying to break into the market, pushing up prices at the moment.”

The auction had 32 registered bidders gearing up to snap up the Browns Plains home. Photo: David Clark

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Mr Khan said his advice to vendors looking to sell their properties would be to sell now.
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“The time to sell is now. We always get vendors reluctant to go before Christmas, but there is a huge pull of buyers out there pre-approved and ready to go and with the government grant coming in as well, it’s a great time to put your property on the market,” he said.

A large crowd gathered at the auction. Photo: David Clark

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Property agent Cory Boyd from Ray White Marsden, who has become notoriously known for his creative take on campaigns, said that following the success of Crestmead, the campaign went really well.

“We’re trying to make the best of a bad situation for our vendors. I was thrilled with what we achieved today, a great result for the owner,” Mr Boyd said.

“Seeing over 30 registered bidders is an excellent example of buyer activity. I anticipate that we will see more renovators coming on the market after this sale today.”