Million-dollar dream realised in the ‘burbs

Alyce and Ben Thew recently bought a property in Southport, one of the most popular suburbs based on sales. Picture Glenn Hampson

Alyce and Ben Thew spent six months searching for an investment property on the Gold Coast before settling on a home in Southport.

The couple wanted a freestanding house on the east side of the M1 with strong renovation potential for less than $1m.

MORE NEWS: Epic penthouse overlooks famous surf breaks

Inside $2.4m wedding gift of Aus celeb newlyweds

1/14 Mason Street, Southport is on the market with a price guide of between $1m and 1.1m.

“That’s not an easy brief to fulfil on the Gold Coast right now,” Mrs Thew said

“We were initially looking at Labrador and Ashmore, but we were priced out fairly quickly.

“The competition and prices in those suburbs escalated fast, and we didn’t want to compromise on what we were after.

“We found Southport delivered on all fronts.”

Alyce and Ben Thew recently bought an investment in Southport, one of the most popular suburbs based on sales. Picture Glenn Hampson

They bought their Southport property for $965,000 in May with plans to renovate it next year.

It comes as PropTrack data revealed Southport was one of Queensland’s top-selling markets over the past 12 months.

“Southport still offers incredible value compared to its coastal and central Gold Coast neighbours,” Mrs Thew said.

“There are great little pockets, the location is unbeatable – close to the water, major transport links, Griffith University, TAFE Queensland campuses and great schools.

“The fact that you can still buy a stand-alone house under $1 million in such a central location is becoming increasingly rare.”

12 Parkview Court, Southport is for sale at offers over $1.28m.

Mrs Thew said she believed Southport appealed to both homeowners and investors, with a wide variety of properties in the CBD suburb.

“For us, Southport just made more sense long term,” Mrs Thew said.

“It’s the kind of suburb that will always have demand because of its position, and as renovators, we saw a lot more opportunity to add value in older homes with good bones than in cookie-cutter houses further out.”

18/88 Cotlew Street East, Southport is for sale at offers over $879,000.

The couple said they believed the Gold Coast real estate market was still strong.

“We’re definitely not experts, just a husband-and-wife team who love renovating and investing in property where we see potential,” Mrs Thew said.

“From our experience, the Gold Coast market still feels really strong.

“There’s a lot of interest, especially in well-located homes that need a bit of work.

“People are realising the value in suburbs like Southport, where you can still get a house under $1 million and be close to everything.

“As long as the lifestyle stays great and the area keeps growing, we think the market will keep ticking along.”

Real estate veteran Andrew Bell says Southport offers strong value and growth potential. Picture Glenn Hampson

Real estate veteran Andrew Bell recently moved his office from Surfers Paradise to Southport to ensure they were at the centre of the suburb’s “transformation”.

“Southport is set to become a vibrant business, legal, and residential precinct,” Mr Bell, head of Ray White Surfers Paradise Group Surfers Paradise.

“With council, state, and federal offices planned, plus a new legal precinct and the Queensland Supreme Court, Southport is fast emerging as the Gold Coast’s commercial heart.

“Adding to this momentum, the Queensland Government has backed the new indoor stadium at Carey Park for the 2032 Olympic Games, further cementing Southport’s status as a key growth corridor.”

“If you’re looking for strong value and growth potential, Southport and its surrounding suburbs like Labrador deserve your attention.”

The post Million-dollar dream realised in the ‘burbs appeared first on realestate.com.au.