real estate Archives - Toowong News

Unrenovated Home at Saint Osyth Street Sells for $1.325M Amid Rising Property Values

A weathered three-bedroom home at 28 Saint Osyth Street has sold under the hammer for $1.325 million, drawing an audience of locals, builders, and former tenants who once called the property home.

Read: Toowong Home Finds New Owners Despite Termite Troubles

The house, set on a 405-square-metre corner block, had not changed hands since 1983. Its original features included an outdoor toilet, dated floor plan, and tired stumps, all of which signalled the scale of renovation awaiting its next chapter.

Despite its condition, the auction drew spirited competition. Bidding began at $1 million and quickly escalated in $50,000 increments. Five prospective buyers participated, with the final bid secured by a local couple who had long admired the property during their walks through the neighbourhood.

Adding to the occasion, several former tenants reunited at the open home, reminiscing about their days as university students living under its roof. Their presence gave the auction a celebratory feel, blending nostalgia with the excitement of new beginnings.

Market Context in Toowong

The result comes at a time of renewed strength in Brisbane’s property market. According to recent figures, Toowong’s median house price sits at approximately $1.61 million, reflecting steady growth in the inner-west suburb. The area’s blend of heritage homes, proximity to the CBD, and leafy character has made it particularly attractive to buyers seeking both lifestyle and investment opportunities.

Domain data shows Brisbane’s clearance rate hovering around 60 per cent in recent weeks, with activity picking up as spring encourages more buyers and sellers into the market.

A Snapshot of Change

The sale of 28 Saint Osyth Street reflects a broader trend across Brisbane, where demand for both finished homes and renovation-ready properties is driving competition. While polished, move-in-ready residences command premium prices, character homes in need of work remain highly sought after for their potential.

In this case, the enduring charm of the property, combined with its corner-block location just minutes from the city, outweighed the scale of the renovations required. For the new owners, it marks the beginning of a personal project and the continuation of the property’s long history in the suburb.

Read: $1 Billion Toowong Central Precinct Proposed to Transform Inner West

Looking Ahead

The sale serves as a reminder of the enduring appeal of Toowong, where history and growth intersect. For many residents, the auction was more than a real estate transaction – it was a chance to share stories, reconnect, and witness the next chapter of a home that has been part of the community for decades.

Published 23-September-2025

Toowong Home Finds New Owners Despite Termite Troubles

Photo Credit: Doug Disher Real Estate

A Toowong home that fell victim to a serious termite infestation has successfully found new owners, going under contract after being listed for offers above $850,000.

The three-storey property at 38 Richer Street became an unexpected renovation project when the current owners discovered extensive termite damage during the early stages of their planned improvements. The discovery forced them to partially gut sections of the home to properly address the pest invasion.

Doug Disher Real Estate agent Toby Disher handled the unique sale, presenting the property’s circumstances with refreshing honesty. The listing acknowledged the challenging situation the owners faced when their renovation dreams were derailed by the unwelcome discovery.

After professional pest control specialists dealt with the termite colony and installed appropriate preventative measures, the owners found themselves at a crossroads. They could either continue with extensive repairs and renovations, or pass the opportunity on to someone better equipped to handle such a comprehensive project. An unexpected job offer overseas ultimately helped make their decision.

The architecturally designed home boasts multiple outdoor entertaining areas and living spaces across its three levels. The middle floor features polished timber flooring, while the upper level houses a parents’ retreat. Polished concrete can be found on the ground level.

However, the termite damage was clearly visible in listing photographs, showing sections where decking boards had been removed and interior wall sheeting stripped away during the treatment process. The extensive nature of the infestation required significant intervention to ensure the property was properly remediated.

Despite the obvious challenges, the property attracted considerable attention from potential buyers. The sale includes all renovation materials and fixtures that were originally intended for the owners’ planned improvements. These items comprise bathroom fittings such as basins, mixers, shower components, toilets, mirrors and vanities, plus flooring materials including premium Kwila decking and Gastone Carrara White tiles for floors and walls.

The property sits on a 379-square-metre block with an interesting access arrangement – shared access from Richer Street and 24 metres of frontage along Horrocks Street, potentially allowing for separate private access to be created in the future.

Location-wise, the home enjoys proximity to several prestigious educational institutions. It’s positioned within walking distance of Stuartholme School and falls within the Rainworth State School catchment area. Families also have convenient access to Brisbane Boys’ College and the Queensland Academy for Science Mathematics and Technology (QASMT), while The University of Queensland lies less than five kilometres away by road.

The unusual nature of the sale clearly resonated with Brisbane property hunters, with the listing becoming the most-viewed residential property advertisement across Queensland during its first week on the market.

For someone with the right skills and connections, this property represents an opportunity to take on a comprehensive renovation project with many materials already included. The challenge of restoring a termite-damaged home may seem daunting to some, but for buyers with experience in property renovation, it could prove to be a rewarding project with significant potential once complete.

The successful sale demonstrates that even properties with pest history can find appreciative buyers when priced appropriately and marketed with transparency about their condition.

Published 21-August-2025

Luxury Toowong Penthouse Sells for $4.1 Million

Photo Credit: Azure Development Group

A luxury penthouse in Toowong has been sold for $4.1 million with completion scheduled for early 2025. The sale highlights the continued demand for high-end properties in Brisbane’s luxury market.

The penthouse, part of Azure’s One Earle Lane development, boasts impressive features including an 18.3-metre frontage, three bedrooms, 2.5 bathrooms, multiple living areas, a home office, and a large north-facing balcony. The property also includes parking for three cars, catering to the needs of affluent urban dwellers.

Azure director Trent Keirnan expressed satisfaction with the sale, stating that the development had received “tremendous interest.” He views the penthouse sale as a testament to the superior quality of products entering the Brisbane market.

Designed by Paul Conrad Architects and under construction by 5Point Projects, One Earle Lane is reportedly on track for completion at the beginning of the first quarter of 2025. Simon Caulfield of Place Estate Agents, who brokered the sale, confirmed confidence in meeting this completion timeline.

Interestingly, the buyer, a downsizer from nearby Paddington, chose this property over options with river views. Caulfield explained that the decision was influenced by One Earle Lane’s extensive amenities, top floor corner position, uninterrupted city and park views, and superior design and finishes.

The development promises a range of luxury amenities for residents, including private dining facilities, a cinema, gymnasium, yoga studio, sauna, steam room, hot and cold plunges, and a 25-metre heated lap pool.

This sale is part of Azure’s broader portfolio, which includes over $500 million in developments such as Oakmont, One Five Six, and Dahlia. The company reports a future pipeline exceeding $1.3 billion, indicating continued growth in Brisbane’s luxury property sector.

Published 18-June-2024