The home at 37 Yarrawonga Drive, Castle Hill. Picture: realestate.com.au
An architecturally-designed home perched on Castle Hill has sold for $2.17m at auction while the price of residential real estate in Townsville continues to climb.
The five-bedroom home at 37 Yarrawonga Drive, Castle Hill, was the second most expensive sale for the suburb this year, behind 7 Cottesmore Cres, which sold for $2.9m in March.
The sale was also the 10th most expensive for Castle Hill, with the two $3.2m sales, one in 2023 and one in 2021, retaining top spot.
Selling agent Jaimee Rankin, of Ray White Townsville, said 37 Yarrawonga Drive attracted three registered bidders and sold on auction night.
“We saw 42 groups/families of prospective buyers view the home throughout the three week campaign,” she said.
“The reach across online platforms such as real estate portals and social media was fairly substantial as well.”
Ms Rankin marketed the property as a stunning home offering an “unrivalled vantage point to take in Townsville’s breathtaking coastal scenery”.
Inside the home at 37 Yarrawonga Drive, Castle Hill. Picture: realestate.com.au
The two-storey home has panoramic views from Cape Pallarenda to Cape Cleveland, which can be seen from most rooms and the swimming pool.
The home has luxury fittings, indoor and outdoor entertaining spaces and an aviary built into the rock face of Castle Hill.
According to the latest data from PropTrack, the median house price for Castle Hill sits at $1.225m.
This is up 39.1 per cent in the past 12 months and 10.1 per cent in the past three years, however properties sell for 7.6 per cent below asking price on average.
Tenants are paying $900 per week on average to rent a Castle Hill home, with rentals achieving an indicative gross rental yield of 3.82 per cent.
The PropTrack figures also showed the median house price in Townsville was sitting at $460,000, up 7.4 per cent in the past quarter and 13.5 per cent in the past year.
The average cost of a unit in Townsville is $292,000, up just 1 per cent for the quarter and 8.1 per cent in the past 12 months.
TOP CASTLE HILL SALES
34 Stirling Drive, Castle Hill – $3.2m – Aug 2023
33 Yarrawonga Drive, Castle Hill – $3.2m – May 2021
7 Cottesmore Cres, Castle Hill – $2.9m – March 2024
2 Roper Ct, Castle Hill – $2.55m – Oct 2014
5 Arundel Ct, Castle Hill – $2.4m – Feb 2018
16 Braemar Cres, Castle Hill – $2.4m – March 2022
12 Balmoral Drive, Castle Hill – $2.3m – Aug 2021
53 Yarrawonga Drive, Castle Hill – $2.3m – June 2020
7 Glamis Ct, Castle Hill – $2.25m – Sep 2023
37 Yarrawonga Drive, Castle Hill – $2.17m – Aug 2024
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