Brisbane property sales: Mount Gravatt East house hits lowest price since 2021

A dilapidated three-bedroom house in Mount Gravatt East, Brisbane, has sold for $938,000, marking the suburb's cheapest house sale since 2021. The property at 18 Wedmore Street, which had not been on the market for 25 years, sat on a 607-square-metre parcel with uneven terrain and building challenges.

Andrew Boman of Ray White Mount Gravatt noted that while some bidders intended to renovate, the buyer may choose to demolish the structure. The sale price was approximately $427,000 below the suburb's median value.

In a separate transaction in Geebung, a renovated four-bedroom post-war home at 20 Deborah Street sold for $1.61 million. The sale followed a bidding war among four couples, reflecting rising demand in the area as buyers seek more affordable alternatives to neighboring suburbs.