The humble homes hitting Queensland’s hottest markets

They are located in some of Queensland’s hottest markets and, in many cases, have been in the same hands for decades.

But with the real estate market red hot across the Sunshine State, these humble homes are set to test the market – and the pockets of desperate buyers.

And they range from a sprawling city estate on the market for the first time in 107 years, to an original beach house in the state’s most expensive suburb and acreage in a tourist haven.

MORE NEWS: Sophie Monk’s Gold Coast acreage up for rent

The QLD homes with some seriously cool features

Inside the stunning homes of Australia’s Tokyo 2020 Olympians

REA Group economic research executive manager Cameron Kusher said sellers were becoming more confident, with no shortage of evidence showing the strength of the market.

“If they are realistic about price, they will sell,” he said.

“There is no shortage of buyers in the market, and not enough supply to meet that demand.”

Data from CoreLogic shows that the number of days on market across regional Queensland has almost halved, from 60 days to 35 days.

Up north, a basic weekender near Townsville that was listed for the first time in over three decades recently attracted a whopping 17 registered bidders at auction, and achieved $288,000 under the hammer. It last sold in 1988 for $92,000.

Agent Ian Clarke of Ian Clarke Real Estate said the auction attracted local buyers, plus buyers from Weipa and regional Victoria.

“That is the highest number of registered bidders I have probably had since the last boom,” Mr Clarke said, adding that another property recently attracted nine registered bidders.

In Townsville’s second most expensive suburb, Smith & Elliott agent Stewart Hartley has a Queenslander with ocean views in North Ward on the market for the first time in over 40 years.

The elderly owner bought the property off-market in the late 1970s, and it is now listed for offers over $1.1 million.

Coming up, all eyes will be on Sunshine Beach – Queensland’s most expensive housing market – when two properties go under the hammer next month.

The beachside hamlet now boasts a $2.5 million median house price, ahead of Teneriffe in Brisbane ($2.25 million) and Main Beach on the Gold Coast ($2,012,500).

Last month, a waterfront house sold off-market for an eye-watering $34 million.

Now, a quirky and colourful, three-bedroom house on Duke St, about 650m from the record-breaking house, will go to auction on August 14.

Ray White Noosa River agent Deni Castle said the owner could recall when work started on the property in 1981.

“Duke Street was a dirt road. The building was the first house in the street and was, at the time, considered the best house in Sunshine Beach,” she said.

Property records show the vendors bought the property for just $87,500.

Today, it is surrounded by mansions, and well-heeled, often well-known, neighbours.

RELATED: The $34m buyer of QLD’s richest real estate revealed

And just a few streets away, a house on a 859sq m block that was bought for just $18,000 back in 1987 is also set to go to auction.

Century 21 Noosa Heads agent Dean McLure said the property was the “perfect example of a humble home”.

“But that block, that’s prime real estate,” he said. “Whoever buys it, they will no doubt build a big, architecturally-designed beach house.

“Another one a few doors down, that sold for $5.1 million … you could throw a rock and hit the $34 million house.”

 

On the Gold Coast, a Tudor-style mansion located in the sought-after The Southport School catchment sold ahead of auction for $2.85 million.

It was on the market for the first time in over a decade and last sold for $1.175 million in 2008.

While in Mermaid Beach, a 405sq m block with a “ready to demolish” house hit the market for the first time in 50 years, and recently sold for $2.002 million.

Plum Property agent Ben Genest said he believed the owner bought the block for around $40,000.

Meanwhile, a two-bedroom, basic brick house just a few streets back from Palm Beach is on the market for the first time in 28 years.

Property records show it last sold for $62,000 in 1993. The median house price in Palm Beach is now north of $1 million, a rise of 20.6 per cent in 12 months.

In Cairns, a rainforest retreat in Whitfield is on the market for the first time and is listed for offers over $1.85 million.

Property records show the current owners bought the 1366sq m site for $70,000 in 1983, before building their architecturally-designed residence.

Whitfield is home to some of Cairns biggest property sales, including a hilltop acreage mansion that sold for $5.29 million to a Chinese businessman last year.

And in Palm Cove, the region’s second most expensive suburb, a four-bedroom house on a 6756sq m block just 800m from the esplanade and cafe strip is on the market for the first time in almost 30 years.

The tourist and celebrity magnet of the Whitsundays is also seeing vendors cashing in on the buyer boom, with Ray White agent Steve Marks recently selling a stunning Airlie Beach home, that was listed for the first time in 18 years, for $1.95 million at auction.

In Brisbane, some of the city’s tightest-held, landmark homes are also hitting the market for the first time ever.

At Norman Park, L-Rea Estate, which encompasses a modest two-bedroom residence, two tandem tennis courts and the original Norman Park Community Tennis House, is on the market for the first time in 107 years.

And on Hamilton Hill, a grand Queenslander is on the market for the first time in 30 years.

Property records show the property last sold for $488,000 in 1991, but Hamilton is now one of Brisbane’s top three most expensive suburbs.

Today it is listed for between $2.1 million and $2.35 million.

Mr Kusher said regardless of how much was paid for each property, chances are they would have been a big purchase even back in their day.

“And when you look at the price paid, chances are they have spent money on them,” he said.

“However, there is potentially big gains in selling now, and we may not see those same gains in the next 20 years.”

But Terry Ryder of Hotspotting said there was one big factor that could extend the property boom for years to come – the Olympics.

“The last big focus (on Queensland) was the Commonwealth Games (Gold Coast, 2018), and before that, Expo ‘88, and the 1982 Commonwealth Games (Brisbane) and those events were pivotal for Queensland,” he said.

“They each led to infrastructure investment. Now the Olympics, that will really take Brisbane, and Queensland, onto the international stage.”

The post The humble homes hitting Queensland’s hottest markets appeared first on realestate.com.au.