A glamorous influencer couple has made almost $1million profit after selling their waterside mansion just 18 hours after it went on the market – after it was scooped up by generous parents for their daughter.
Mummy blogger Michelle Alan and her model husband Serk announced on Instagram that they sold their four-bedroom home in Brisbane’s ritzy Raby Bay.
‘What a whirlwind! We have sold our beloved family home (in less than 24 hours of it being on the market) and have been busy moving out in time for a quick settlement,’ the mother-of-two told her 161,000 followers.
The couple bought the two-storey house, which features canal views, an oversize master suite, a pontoon, open-plan living area, a pool and landscaped gardens, in June 2017 for $1.42million.
Pictured: Serk and Michelle Alan standing by a ‘sold’ sign outside their former four-bedroom home
Michelle Alan (pictured) was a model for 10 years before she became a fulltime mummy blogger
Michelle and Serk Alan have already bought a new home after making a profit of $980,000 on the sale of their former home
Selling agent Emil Juresic said the property ‘went live’ at 10pm on Friday April 9, booked in seven private inspections and had multiple offers by 1pm on Saturday.
Just three hours later, the luxury home sold for $2.4million – a hefty $980,000 more than they bought it for.
Mr Juresic said the lucky new owners purchased it as a gift for their daughter.
‘It is a beautiful house,’ Mr Juresic said. ‘I certainly wasn’t that lucky when I was younger,’ he said told realestate.com.au.
In her post, the 32-year-old social media star said her family has already bought a new home and have been busy moving out.
The Alan’s home sold in just 18 hours for about $980,000 more than they bought it for in 2017
Pictured: The kitchen area in Michelle and Serk Alan’s former home in Raby Bay, Brisbane
The home features a pool, canal views, an oversize master suite, a pontoon, open-plan living area and landscaped gardens
‘Onto the next chapter, we have bought a new home! The block is an absolute dream,’ she said.
The model-turned-influencer added that the place ‘needs some love’ and that she is ‘super excited’ for their renovation plans.
Ms Alan shared two photos of their new property, which features water views, a pool and large living areas.
Mr Juresic said Brisbane’s property market has ‘gone nuts’ over the past month, as lucky locals race to snap up properties.
‘I recently sold a house at Ashgrove for $1.22million. It hit the market on a Sunday and by Tuesday I had done 55 private inspections and received 10 offers,’ he said.
Mrs Alan (pictured with her husband Serk) shared two photos of their new property, which features water views, a pool and large living areas
Pictured: Mother-of-two Michelle Alan. The influencer has made a killer profit on her Brisbane home
‘The owners of that one bought it for $908,000 in December and did absolutely nothing.’
He said another house went under the hammer in Newmarket, in the city’s inner-north, with 30 registered and active bidders.
The selling agent said he does not expect the pace of property to slow down any time soon.
But AMP Capital chief economist Shane Oliver told Daily Mail Australia that housing prices could plunge between five and 10 per cent by 2023 if immigration, a key driver of housing demand, remained turned off to control the spread of Covid-19.
‘That could pose an issue down the track once the property market starts to turn down again on the back of higher interest rates and if you still don’t have immigrants coming through, it could result in a harder fall,’ he said.
‘It could be worse than that if we’re still in an environment where immigration is very low.’
Ms Alan shared two photos of their new property, which features water views, a pool and large living areas (pictured)
He urged younger people hoping to buy a home to consider holding off, pointing out first-home buyer incentives had ended, including the extended $15,000 Home Builder subsidies and the First Home Loan Deposit Scheme.
‘If you look behind the scenes, it’s booming at the moment but you do wonder where all the demand is coming from,’ Dr Oliver said.
‘I’d say for investors, hold off. They should allow for, at some point out there, this big rush we’re seeing at the moment will abate and there might be some opportunities out there in a couple of years’ time when the interest rate cycle has gone up.’
The big banks, for now, are upbeat with ANZ forecasting an average 17 per cent rise in capital city house prices in 2021, with Sydney to get an even bigger 19 per cent increase.
Pictured: A view from the inside of a home bought by influencer couple Michelle and Serk Alan
Westpac is expecting capital city prices to rise by 10 per cent in 2021 and by another 10 per cent in 2022.
In March, Australian house prices rose by 2.8 per cent, the fastest monthly pace since October 1988 as price records were set in 61 of Australia’s 88 real estate sub markets, CoreLogic data showed.
Sydney’s median house price climbed by an even more dramatic 4.3 per cent to $1.12million.
Auction clearance rates in Sydney stood at 84.5 per cent, above the capital city average of 80 per cent.