Add Category
Kevin Rudd's Norman Park house was listed for sale at $1.19 million.
AFTER 10 weeks on the market, it looks like former Prime Minister Kevin Rudd will finally be zipping out of Brisbane — with his long-time home now under contract.
Mr Rudd and his multi-millionaire wife Therese, who now spend most of their time offshore, put their home on the market in mid-November. It first went out to tender over a period of two weeks. When it failed to sell, the property was then listed for sale at $1.25 million before the asking price was dropped to $1.19 million where it has remained.
The Rudd family kitchen. Source: No Source
Records on Corelogic RPData show that the Norman Crescent home was the only one listed personally to the Rudds. No information was immediately available on who the potential new owners were.
RUDD LOWERS ASKING PRICE FOR NORMAN PARK HOME
The asking price was around triple what the Rudds paid for the site over two decades ago.
The Rudds bought the home for $116,000 less than the previous owners — Irene and Nicholas Kassos, Moses Holdings and L G Moses Holdings — paid just seven months earlier, according to CoreLogic records. In June last year, the council valued the land alone at $590,000.
No styling was conducted on the property before it was listed for sale with potential buyers able to get a real taste of how the former PM lived.
Kevin Rudd's Norman Park house is for sale. Source: No Source
During the sale period, Mr Rudd’s home could only be viewed via private inspection arranged with his real estate agent Tim Altass.
Mr Altass, who was not taking calls this morning, said earlier that inquiries for the property tripled as soon as the Rudds put a price tag on it.
“Inquiries tripled as soon as the price was announced as most buyers prefer to know a price before inspecting. It’s a large house and with the pool and the tropical setting it’s ideally suited to buyers wanting verandas and private entertaining areas rather than open grass areas.
The bathroom has a very traditional feel. Source: No Source
“The right buyers have loved it and we’re close to selling it.â€
Norman Park has seen a rise in median price of 18.1 per cent over the last five years, and a 6 per cent change over 10 years.
The median asking rent in the area was $518 a week while average days on market was on Market is 49 days.
Kevin Rudd's Norman Park house is for sale. Source: No Source