When the Boyds decided to look for their next renovation project in the then sleepy suburb of Cannon Hill, little did they know the median house price would double in just four years.
Cameron and Emma bought a post-war cottage on 730 sqm at 9 Blackwood Avenue seven years ago and embarked on a full transformation of the property during the Covid-19 pandemic, when a typical house in the suburb cost about $730,000.
Cannon Hill has boomed since then, with a new report by SuburbData ranking the suburb as one of the Brisbane markets most likely at its peak, with huge recent demand pushing the median house price to $1.5m in February — meaning now could be a great time to sell.
Recent sales in the suburb include a five-bedroom house on 600 sqm in Aster Street, which fetched $2.4 million.
With an itch to start a new project and prices such as this achieved for similar homes, the Boyds have decided it’s time to sell.
“There’s been some really strong sales in recent months in Cannon Hill,” Mr Boyd said.
“It was actually my wife’s idea to have a look at Cannon Hill, which we hadn’t previously had on our radar at the time of looking seven years ago.
“We ended up getting a great little post-war built in 1955 and the large land size appealed to us. It also had a good community feel, is close to schools, and also great access to the Gateway and M1, and only 8km to the CBD.
“We ended up getting a great little post-war built in 1955 and the large land size appealed to us. It also had a good community feel, is close to schools, and also great access to the Gateway and M1, and only 8km to the CBD.”
With a construction background, Mr Boyd is no stranger to renovating properties around Brisbane — a passion his wife also shares, despite the pair having four young children under 10.
“My wife’s a school teacher, but she has a heavy interest in it,” Mr Boyd said. “I’m not going to say it’s easy!
“This is the third property we’ve owned in Brisbane’s southeast. We enjoy building and renovating, and now we’re looking at our next house project challenge and hoping to stay in the area.”
The Boyds have renovated the existing post-war cottage on the block at Blackwood Avenue and added a modern extension, expanding the home to four bedrooms and three bathrooms. They have also added a pool.
“There is the opportunity to still build under the extension part, but we feel it’s probably a good selling point for somone who wants to take on a good challenge,” Mr Boyd said.
Meagan Muir of Place – Bulimba, who is marketing the property, said Cannon Hill had always been a second cousin to more prestige suburbs like Hawthorne and Bulimba, but that was fast changing.
“It’s now one of the most hotly contested suburbs,” Ms Muri said. “Elevated, leafy, family-friendly, with wide streets that still capture city views. A lot of affluent families are moving in to the area and a lot of builders are putting homes in. The golf course has just opened up at Minnippi, and there are great schools and childcare options. Year-on-year it is performing.”
Ms Muir, who also negotiated the sale of 9 Aster Street for $2.4 million, said that sale had set a benchmark in the suburb, but 9 Blackwood Avenue was also attracting strong interest.
“You’re getting a four-bedroom, renovated property on over 700 sqm with a city view and room to extend,” she said.
“It’s a beautiful home as it is, but you can also effortlessly build in underneath because it’s already legal height.”
Source: realestate.com.au