Queensland eyesore between mansions soars in price

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Like the meat in a sandwich, a Queensland eyesore among mansions is a classic case of the worst house on the best street.

Southport’s fixer-upper is flanked by the “multi-million dollar masterpieces” that line the riverside street and appear to lack materials at the back. Proving its worth to the land, it has continued to rise in price, being traded by owners twice in 2021 for a profit of $346,000 after seven months, Domain Records shows.

The interior of 24 Yacht Street is bright and tidy and the 673 square meter block is a highly desirable pocket with the Nerang River beach at the end of the street surrounded by design inspiration.

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24 Hunting Street, Southport, Queensland
View the photos of the ad here

Queensland Renovation Domain Listing House
The decrepit old property at 24 Yacht Street, Southport is in an area of ​​multi-million dollar homes. (Domain)

“Whether you land bank and wait for the right opportunity, or roll up your sleeves and get to work designing and building your dream home or development, you just can’t go wrong with a location like this,” the listing, in the books by Amir Prestigebureau, says.

Pricefinder data shows that the property’s last two transactions were $880,000 in February 2021 and $1,226,600 in September of that year.

Facing northeast, the 332-square-foot house has five bedrooms over two floors, with the upstairs devoted to welcome bonuses – a rumpus room and patio, plus a second living space and wine cellar.

There is also a large study room on this second floor.

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Property in Queensland Domain House
The backyard has a lush lawn and pool, but the back of the property needs TLC. (Domain)

The main floor contains three of the bedrooms, a living room, dining room and kitchen, a bathroom with a corner spa and a mix of wood floors and cool tiles to combat the Surfers Paradise heat.

The ceiling is clad in wood, evocative of a provincial or Hamptons style, and the palette is fresh and neutral.

The front of the property – including the natural strip and paving of the driveway – is in need of a facelift.

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House property list Queensland Domain
A top school and the bustling Southport CBD are close by, with the address marked on the advert’s aerial photo. (Domain)

A backyard pool is surrounded by concrete but has no fence

The address is close to the bustling Southport CBD. The highly regarded boys’ school, The Southport School, is 1km away (or a 13 minute walk from Yacht Street).

Southport’s median home price is $840,000, according to Domain’s latest House Price Report (December 2022), representing an increase of 12.1 percent in 12 months and 48.7 percent in five years.

House property list Queensland Domain
The interior is fresh and tidy, with wooden floors and cooling tiles. (Domain)
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