The undervalued Brisbane suburb now raking in $3m sales

Sam Butler and Craig Sidey with kids George 7, tom 5 and Reggie 1 at their Wavell Heights home, which is one of the undervalued suburbs. Adam Head

Sam Butler and Craig Sidey have seen Wavell Heights transform over the past four years, with older homes making way for new builds that have sold for over $3 million.

The suburb has a median house price of $1.475 million, an increase of 98.1 per cent since the start of the Covid-19 pandemic back in early 2020.

Back then, the average home cost $744,500, below the affordability threshhold of $750,000.

But even now, the family-friendly suburb is considered undervalued, according to research from SuburbData.

That research revealed that the suburb was about $5000 cheaper than its neighbouring suburbs.

“We fell in love with the street and the house rather than the suburb,” Craig said, adding that the “canopy trees” in the street sold them on the house.

Sam Butler and Craig Sidey with kids George 7, tom 5 and Reggie 1 at their Wavell Heights home, which is one of the undervalued suburbs. Adam Head

The couple, who have three boys, George, 7, Tom, 5, and Reggie, 1, bought their 10 Nind St property in April 2021.

It was the couples second home in the suburb, which they said was being populated by young families.

The couples home at 10 Nind St Wavell Heights will go to auction on September 6

“I think that because Wavell Heights isn’t subject to character listing, developers are buying up, knocking down and building these new modern homes,” Sam said.

The couple have now purchased in Benowa Waters on the Gold Coast with Craig to take over as proprietor of the Burdell Harvey Norman store.

“We wouldn’t be selling if we didn’t have to but we can only be in so much debt,” Craig joked.

10 Nind St Wavell Heights

The couple said that, besides the “wonderful” community, the accessibility of the suburb was a standout.

“Craig travelled a bit with work so access to the airport was important and you can jump into the tunnel and be in the city in 10 minutes,” Sam said.

“Plus there is Westfield Chermside and top schools close by.”

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10 Nind St Wavell Heights

Craig said that the suburbs accessibility to both coasts, the city and airport meant it was undervalued.

“You can basically be on any of the major routes in 5-10 minutes,” he said.

“Go even one suburb closer and you have to backtrack to get to the tunnel.”

10 Nind St Wavell Heights

The couple added that the gentrification of surrounding suburbs like Stafford Heights and Everton Park had pushed up the liveability of suburbs like Wavell Heights.

“Some suburbs have been completely redeveloped,” Sam said.

“It (Wavell Heights) is perfectly positioned.”

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10 Nind St Wavell Heights

Place Ascot agent Patrick McKinnon, who is marketing the family’s home, said Wavell Heights had always been undervalued, given its proximity to the airport and city.

“But there has been a lot of developer activity and a few sales over $3 million now,” he said.

“And when you look at suburbs like Hendra and Ascot, you are spening $4-$5m and not getting that big block.

“Everyone wants that bigger block that is still close to the good schools and in Wavell Heights, you get more bang for your buck.”

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