Inside 153 Kent St, New Farm. Picture: realestate.com.au.It comes as solid growth in home renovations activity contributed to a pick up in the pace of economic growth in the June quarter, according to the latest GDP figures released by the Australian Bureau of Statistics. This property at 153 Kent St, New Farm, has gone under contract. Picture: realestate.com.au.Selling agent Ivo Kornel of Belle Property New Farm said 25 buyers went through the first open inspection on Saturday before it went under contract the same night.Mr Kornel said the buyers were renting in the area and planned to move in and then renovate the property. Homes that’ll make you go green First home buyers are back This is what $4.6m will get you in Brisbane He said there was strong demand for homes with renovation potential in the area, but they were in short supply.The home is in an area of the suburb known as ‘New Farm Heights’ because of the elevated position offering views of the suburb from south to the northeast. This renovator at 153 Kent St, New Farm, went under contract after two days on the market. Picture: realestate.com.au.A RENOVATOR’S delight in Brisbane has been snapped up after just two days on the market, as a rise in renovation activity gives the economy a boost.The cute cottage with an art deco facade in inner-city New Farm has gone under contract for between $1.35 million and $1.4 million.The four-bedroom, one-bathroom house at 153 Kent Street was used for short term accommodation in its previous life and was known as the Flo-Inn. Inside the renovator’s delight at 153 Kent St, New Farm. Picture: realestate.com.au.More from newsMould, age, not enough to stop 17 bidders fighting for this home1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor1 hour agoIt occupies a 513 sqm block — larger than average for New Farm.Mr Kornel said the home was “very liveable but is ripe for renovation”.The property already comes with renovation plans.An addition to the original house was made in the 1940s and the current owners converted the living and dining areas to an open plan design. The back deck of the home at 153 Kent St, New Farm. Picture: realestate.com.au.“The contraction in new dwelling construction is from the record highs achieved in 2016 and a large backlog of work is still to be completed,” he said.“Sustained growth in renovations activity will be a welcome antidote to the substantial downturn in new home building that we predict to unfold until 2019.” One of the bedrooms in the home at 153 Kent St, New Farm. Picture: realestate.com.au.The national accounts reported that GDP increased by 0.8 per cent during the quarter to be 1.8 per cent higher than a year ago.Housing Industry of Australia senior economist Shane Garrett said the figures indicated renovation activity grew by 2.2 per cent during the quarter, eclipsing the contraction of 0.8 per cent in new dwelling construction over the same period. The bathroom at 153 Kent St, New Farm. Picture: realestate.com.au.