Tammy Hembrow has cut the asking price of her Gold Coast mansion by six figures in a bid to attract on-the-fence buyers spooked by the market downturn.
Shortly after the failed auction, the property returned to the market with “a sharp asking price” of $4.35 million negotiable.
Despite Ray White selling agent Jay Helprin stating there were several conditional buyers, no deal could be reached.
This week, the listing price on the property changed again, with $350,000 sliced off.
“We’re on the market and motivated to sell,” Helprin told nine.com.au about the home’s new $4 million negotiable price tag.
“There’s a lot of people who would like to purchase the property, but their situation doesn’t allow them. They have to sell to buy.”
He said there were a lot of buyers “sitting on the fence” waiting to see how the property market played out.
“There’s a lot of uncertainty. But that’s the best time for an astute buyer,” he said.
He added that buyers biding their time to pick the bottom of the market would miss out on opportunities, with the Broadbeach Waters property among them.
“Now is the best time to buy,” he said.
The price discount comes just days after the Reserve Bank of Australia delivered another interest rate hike – the fifth increase this year.
The successive rate rises have added to property market headwinds, particularly across Queensland.
Domain’s September quarter House Price Report found the Gold Coast’s northern neighbour, Brisbane, is now one of Australia’s weakest-performing capital city housing markets.
While Brisbane is part of a separate capital city market, the downward trend in buyer sentiment is being widely felt across the region.
Hembrow bought the waterfront property for $2.88 million in 2020 and has lived there with her children.
Its interiors, pool and riverfront setting have repeatedly appeared behind Hembrow in social media posts shared with her 20 million followers.
“The sense of calm and peace I feel here. My home makes me so happy,” she wrote alongside one glimpse of the property in 2022.
72 River Crescent, Broadbeach Waters QLD 4218
“Slowly turning my house into a home and loving every second,” she shared in another.
Hembrow rose to fame in 2014 after documenting her fitness journey through her pregnancies online.
In 2015, following the birth of her son, Wolf, she launched a fitness program that grew from downloadable PDF guides into her popular app, TammyFit.
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