A dilapidated prewar cottage in Kedron has sold for $975,000 despite needing extensive reconstruction, highlighting the intense competition for character properties in Brisbane’s inner north.
Set on a 437 sqm block on Oliver Street, the two-bedroom cottage is one of only two original homes left on the street — a rarity in an area increasingly dominated by modern rebuilds. The property required major structural work, with a failing roof, ageing foundations and a likely full lift ahead. Its character-protection zoning meant demolition was off the table, narrowing interest to buyers prepared to take on a substantial renovation.
Bidding opened at $700,000 and progressed in careful $5000 increments as three committed bidders edged forward. Eventually, a builder secured the winning bid, recognising the long-term potential despite the labour-intensive restoration required.
McGrath Aspley agent Tony Aspinall later explained that the home remained close to its original condition and carried significant charm beneath its visible deterioration. Its position near one of Kedron’s most desirable pockets reinforced its appeal and helped drive the near-million-dollar result.
The sale reflects a broader trend: renovators and builders continue to chase character homes even when they require total rejuvenation, with buyers prioritising land value and future potential over immediate liveability.
