A tudor mansion at 4 Greer Tce, Southport sold ahead of auction for $2.85m.
They are located in some of Queensland’s hottest markets and, in many cases, have been in the same hands for decades.
But with real estate red hot across the Coast, these humble homes hitting the market are delivering a windfall to their patient owners.
Houses for sale for the first time in generations have popped up in popular pockets across the city, ranging from a modest brick house just back from the surf at Palm Beach, to a dress circle Tudor-style mansion at Southport.
Inside the character-filled Tudor-style mansion, marketed by Kollosche principal Michael Kollosche.
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REA Group economic research executive manager Cameron Kusher said sellers were becoming more confident, with ample evidence of an incredibly strong market.
“If they are realistic about price, they will sell,” Mr Kusher said.
“There is no shortage of buyers in the market, and not enough supply to meet that demand.”
Data from CoreLogic shows the number of days on market across regional Queensland has almost halved, from 60 days to 35 days.
A Mermaid Beach property with a “ready to demolish” house at 30 William St sold for $2.002m.
In blue-ribbon Mermaid Beach, a “ready to demolish” house on a 405sq m block at 30 William St sold for a whopping $2.002m after being listed for sale for the first time in 50 years.
Marketing agent Ben Genest, of Plum Property, said he believed the owner bought the block for about $40,000, with the valuer estimating it would have gone for as little as $950,000 just five years ago.
At Southport, a Tudor-style mansion at 4 Greer Tce 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.
Buyers are splashing huge prices for Palm Beach knockdowns. This house at 26 Cypress Tce is listed without a sale price.
And with the southern hotspot of Palm Beach posting the Coast’s strongest price growth this year, it should come as no surprise that a basic two-bedroom brick house just a few streets back from the sand is setting buyer pulses racing.
The house at 26 Cypress Tce is on the market with Brett Gleeson, of LJ Hooker, for the first time in 28 years.
Property records show it last sold for $62,000 in 1993.
It is listed without a price guide in light of the soaring local market, with the median house price up 20.6 per cent in 12 months to $1.269m.
“There’s been a lot of sales in Palm Beach over the last six months and some of those prices have been quite extraordinary. This property has a number of different end uses…we will let the market dictate the price,” Mr Gleeson said.
8 Rudd St, Burleigh Heads is for sale via expressions of interest with Realty Blue.
Mr Gleeson said the interstate owner of the long-term rental property had decided, “now is the time to cash in”.
At Burleigh Heads, a four-bedroom, two-storey house at 8 Rudd St is for sale for the first time in 25 years, and only the second time in the 56 years since its construction.
Marketed via an expressions of interest campaign with Realty Blue, this 405sq m property has views from Burleigh Point to Stradbroke Island and backs onto national park.
Renovator’s dream in the dreamy beachside suburb of Burleigh Heads.
While the old purchase price of the homes may be small change by today’s standards, Mr Kusher said each would have represented a significant sum for the buyer back in the 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.”
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