{"id":278524,"date":"2025-11-11T22:07:12","date_gmt":"2025-11-11T22:07:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/278524\/"},"modified":"2025-11-11T22:07:12","modified_gmt":"2025-11-11T22:07:12","slug":"public-trustee-auctions-off-queensland-beachside-and-waterfront-homes","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/278524\/","title":{"rendered":"Public Trustee auctions off Queensland beachside and waterfront homes"},"content":{"rendered":"<p class=\"paragraph_paragraph__iYReA\">About 30 people are crammed into quite possibly the worst unit in one of the best streets in Alexandra Headland on Queensland&#8217;s Sunshine Coast.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">Attendees are confronted by an exposed wall with insulation spilling out.<\/p>\n<p><img decoding=\"async\" alt=\"Lamp in foreground, people gathered in rundown unit\" class=\"Image_image__5tFYM ContentImage_image__DQ_cq\"  src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/3493161f1c0e03626e02be758a5b2b60\" loading=\"lazy\" data-component=\"Image\" data-lazy=\"true\"\/><\/p>\n<p class=\"Typography_base__sj2RP FigureCaption_text__zDxQ5 Typography_sizeMobile12__w_FPC Typography_lineHeightMobile20___U7Vr Typography_regular__WeIG6 Typography_colourInherit__dfnUx\" data-component=\"Typography\">Sam Proietto speaking to the crowd gathered at the Alexandra Headland unit. (ABC Sunshine Coast: Jessica Ross)<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;Definitely needs some love, we are not trying to disguise that at all,&#8221; auctioneer Sam Proietto tells the crowd.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;I&#8217;m sure you&#8217;ve all got eyes.&#8221;<\/p>\n<p><img decoding=\"async\" alt=\"Entryway with exposed wall\" class=\"Image_image__5tFYM ContentImage_image__DQ_cq\"  src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/fe7e209d2b0788f2c58147043276160f\" loading=\"lazy\" data-component=\"Image\" data-lazy=\"true\"\/><\/p>\n<p class=\"Typography_base__sj2RP FigureCaption_text__zDxQ5 Typography_sizeMobile12__w_FPC Typography_lineHeightMobile20___U7Vr Typography_regular__WeIG6 Typography_colourInherit__dfnUx\" data-component=\"Typography\">The unit is in need of major renovations. (ABC Sunshine Coast: Jessica Ross)<\/p>\n<p class=\"paragraph_paragraph__iYReA\">The one-bedroom unit is encased by a mix of painted and bare brick walls, with retro yellow tiles adorning the kitchen and partially built bathroom.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">But here, it is what is outside that counts, with the balcony offering glimpses of the sparkling ocean.<\/p>\n<p><img decoding=\"async\" alt=\"building in front, ocean behind.. balcony view\" class=\"Image_image__5tFYM ContentImage_image__DQ_cq\"  src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/cb5bd9dc28fe89efbc500a540bb31890\" loading=\"lazy\" data-component=\"Image\" data-lazy=\"true\"\/><\/p>\n<p class=\"Typography_base__sj2RP FigureCaption_text__zDxQ5 Typography_sizeMobile12__w_FPC Typography_lineHeightMobile20___U7Vr Typography_regular__WeIG6 Typography_colourInherit__dfnUx\" data-component=\"Typography\">The view from the balcony of the Alexandra Headland unit. (ABC Sunshine Coast: Jessica Ross)<\/p>\n<p class=\"paragraph_paragraph__iYReA\">The property is being sold by the Queensland Public Trustee (QPT), which sells between 300 and 400 homes each year.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">The properties are often from deceased estates, and that is the case for this unit, with the late owner&#8217;s family among those eagerly watching on as the auction unfolds.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">The opening bid is $560,000, but it quickly ratchets up in $10,000 increments as five would-be buyers do battle.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">Eventually the hammer falls at $701,000 \u2014 about $100,000 below the suburb&#8217;s current median unit price \u2014 with Sophie Marks the ecstatic new owner.<\/p>\n<p><img decoding=\"async\" alt=\"man with hammer\" class=\"Image_image__5tFYM ContentImage_image__DQ_cq\"  src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/6bf3eef708cb0d12cc1019d72a48877b\" loading=\"lazy\" data-component=\"Image\" data-lazy=\"true\"\/><\/p>\n<p class=\"Typography_base__sj2RP FigureCaption_text__zDxQ5 Typography_sizeMobile12__w_FPC Typography_lineHeightMobile20___U7Vr Typography_regular__WeIG6 Typography_colourInherit__dfnUx\" data-component=\"Typography\">Sam Proietto sells the unit for $701,000.\u00a0 (ABC Sunshine Coast: Josh Dye)<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;I wanted something different, to be honest,&#8221; Ms Marks said.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;I&#8217;m a tradie. I know a lot of tradies as well \u2014 so we&#8217;ll be busy.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;I&#8217;m also a big part of the Mooloolaba Surf Club. I volunteer there most weekends, train down there every day for surf lifesaving, so I wanted something close.&#8221;<\/p>\n<p><img decoding=\"async\" alt=\"Aerial shot of unit\" class=\"Image_image__5tFYM ContentImage_image__DQ_cq\"  src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/967b17cfea15c2ce1d5cb1b0525bce19\" loading=\"lazy\" data-component=\"Image\" data-lazy=\"true\"\/><\/p>\n<p class=\"Typography_base__sj2RP FigureCaption_text__zDxQ5 Typography_sizeMobile12__w_FPC Typography_lineHeightMobile20___U7Vr Typography_regular__WeIG6 Typography_colourInherit__dfnUx\" data-component=\"Typography\">The unit is within walking distance of beaches at Alexandra Headland and Mooloolaba. (Supplied: Queensland Public Trustee)<\/p>\n<p class=\"paragraph_paragraph__iYReA\">For Fay McLean it seems serendipitous that Ms Marks should buy her late brother Gregory McLean&#8217;s beloved beach retreat, because the former architect was a volunteer surf lifesaver when he stayed on the coast.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;Greg designed this building. He lived in London and came out for three months every year,&#8221; Ms McLean said.<\/p>\n<p>&#8220;To see someone live in it would be lovely. This is an ending for us \u2014 it&#8217;s closure.&#8221;<img decoding=\"async\" alt=\"SC sisters together\" class=\"Image_image__5tFYM ContentImage_image__DQ_cq\"  src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/458de1a1cdbf91141746dcb83b430422\" loading=\"lazy\" data-component=\"Image\" data-lazy=\"true\"\/><\/p>\n<p class=\"Typography_base__sj2RP FigureCaption_text__zDxQ5 Typography_sizeMobile12__w_FPC Typography_lineHeightMobile20___U7Vr Typography_regular__WeIG6 Typography_colourInherit__dfnUx\" data-component=\"Typography\">Robyn Vos and Fay McLean said the sale of their brother&#8217;s property brought them closure. (ABC Sunshine Coast: Jessica Ross)<\/p>\n<p>A renovator&#8217;s delight<\/p>\n<p class=\"paragraph_paragraph__iYReA\">The Alexandra Headland unit was one of 10 public trustee properties to go under the hammer in south-east Queensland in the past week, with more than half in prime beachside and waterfront locations on the Gold and Sunshine coasts.<\/p>\n<p><a href=\"https:\/\/www.abc.net.au\/news\/2025-11-05\/one-in-10-homes-bought-using-government-incentive-in-october\/105976010\" data-component=\"FullBleedLink\" class=\"RelatedCard_link__rsgR9 FullBleedLink_root__lTw_U interactive_focusContext__yRhc_ interactive_defaults__AKxUU FullBleedLink_showVisited__g3Xvz\" rel=\"nofollow noopener\" target=\"_blank\">One in 10 homes bought using government incentive in October<\/a><\/p>\n<p class=\"Typography_base__sj2RP RelatedCard_synopsis__cFwMW Typography_sizeMobile14__u7TGe Typography_lineHeightMobile20___U7Vr Typography_regular__WeIG6 Typography_colourInherit__dfnUx\" data-component=\"Typography\">About one in 10 homes sold last month were bought by Australians using Labor&#8217;s expanded 5 per cent deposit scheme to enter the market for the first time.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">The properties included a home in Helensvale, which sold for $1.26 million, just below the suburb&#8217;s current median house price of $1.3 million.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">The latest round of auctions coincided with expanded incentives for first home buyers, which rolled out on October 1.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">About <a class=\"Link_link__kR0xA Link_link__5eL5m ScreenReaderOnly_srLinkHint__OysWz Link_showVisited__C1Fea Link_showFocus__ALyv2\" href=\"https:\/\/www.abc.net.au\/news\/2025-11-05\/one-in-10-homes-bought-using-government-incentive-in-october\/105976010\" data-component=\"Link\" data-uri=\"coremedia:\/\/article\/105976010\" rel=\"nofollow noopener\" target=\"_blank\">one in 10 homes sold last month<\/a> were bought through the Australian Government 5 per cent Deposit Scheme, according to figures supplied by Labor.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">Under the scheme, buyers can purchase with as little as a 5 per cent deposit, avoiding lenders&#8217; mortgage insurance. The federal government acts as a guarantor for the remainder of the 20 per cent deposit.<\/p>\n<p><img decoding=\"async\" alt=\"Front of house \" class=\"Image_image__5tFYM ContentImage_image__DQ_cq\"  src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/576a29931caa5f8c1b0b4fde4cfdbb15\" loading=\"lazy\" data-component=\"Image\" data-lazy=\"true\"\/><\/p>\n<p class=\"Typography_base__sj2RP FigureCaption_text__zDxQ5 Typography_sizeMobile12__w_FPC Typography_lineHeightMobile20___U7Vr Typography_regular__WeIG6 Typography_colourInherit__dfnUx\" data-component=\"Typography\">This waterfront home at Helensvale, on the Gold Coast, sold for $1.26 million at auction last Thursday. (Supplied: Queensland Public Trustee)<\/p>\n<p class=\"paragraph_paragraph__iYReA\">QPT principal auctioneer Paul Gaffney said the properties were an &#8220;opportunity&#8221; for first home buyers to break into the market.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;We don&#8217;t sell properties cheaply but on average our properties are cheaper because they are rundown,&#8221; Mr Gaffney said.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;We are not giving it away. We do have to get the best price possible because there are beneficiaries or living clients.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;Our point of difference is that probably 80 to 90 per cent of our properties are renovators because of the nature of our business.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;It&#8217;s usually a home someone has lived in for 40, 50 maybe 60 years.&#8221;<\/p>\n<p><img decoding=\"async\" alt=\"Aerial shot of waterfront home\" class=\"Image_image__5tFYM ContentImage_image__DQ_cq\"  src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/ac67eb5d77703b8c31d0711ffa697537\" loading=\"lazy\" data-component=\"Image\" data-lazy=\"true\"\/><\/p>\n<p class=\"Typography_base__sj2RP FigureCaption_text__zDxQ5 Typography_sizeMobile12__w_FPC Typography_lineHeightMobile20___U7Vr Typography_regular__WeIG6 Typography_colourInherit__dfnUx\" data-component=\"Typography\">A waterfront home at Newport, north of Brisbane, also went under the hammer this week. (Supplied: Queensland Public Trustee)<\/p>\n<p class=\"paragraph_paragraph__iYReA\">Mr Gaffney said no offers were accepted before the auctions.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;We give everyone a fair and reasonable chance,&#8221; the auctioneer said.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;It is a 42-day settlement \u2026 gives them time to do their investigations, do their searches, go to the bank, check their finances.&#8221;<\/p>\n<p class=\"paragraph_paragraph__iYReA\">He said auctions often gave buyers a clearer picture of where the market was at, compared to private sales.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">&#8220;In a private treaty situation, you don&#8217;t know what the other offers are, whether you&#8217;ve paid $100,000 more than the next best offer or $1,000 more, so auctions are a very transparent way to buy property,&#8221; he said.<\/p>\n<p class=\"paragraph_paragraph__iYReA\">The final round of QPT auctions for the year will be held in the second week of December.<\/p>\n","protected":false},"excerpt":{"rendered":"About 30 people are crammed into quite possibly the worst unit in one of the best streets in&hellip;\n","protected":false},"author":2,"featured_media":278525,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99,161486,161487,161489,161488,117822,11151,19604,161490,161491],"class_list":{"0":"post-278524","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-deceased-estates","12":"tag-first-time-homebuyers","13":"tag-first-time-homebuyers-scheme","14":"tag-five-per-cent-deposit","15":"tag-housing-scheme","16":"tag-property-market","17":"tag-property-prices","18":"tag-public-trustee","19":"tag-qpt"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/278524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=278524"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/278524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/278525"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=278524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=278524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=278524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}