Queensland's last beach shacks selling for up to $4M

By Kathleen Donaghey, From: The Sunday Mail (Qld),, 21 March 2010

THE last of Queensland's original beach shacks are facing demolition as a wave of owners who have lived in them for decades retire or pass away.

Sitting close to the some of the state's best beaches, the fibro or brick homes date from the 1950s, '60s and '70s and have rarely changed hands.

But as Australia's ageing population moves on, the shacks are expected to hit the market where they will be snapped up for development.

In Maroochydore on the Sunshine Coast, some two-bedroom huts that have been in the same family for 40 years could fetch up to $400,000.

On the Gold Coast, where the humble homes have already been heavily phased out, they are selling for between $800,000 and $4 million.

And in north Queensland, a one-bedroom shack on The Esplanade, Port Douglas, sits on the market for $2.4 million.

Ray White Maroochydore agent Oliver Shearer is selling a 1970s shack on Bungama St, Maroochydore.

The deceased former owner bought it for $46,500 in 1984. The family is willing to accept anywhere between $200,000 to $350,000 when it goes to auction next Sunday.

Nearby another deceased two-bedroom shack owned by one family since the 1960s is for sale at 17 Yorlambu Parade for over $420,000.

And there's a fishing shack at 215 Broadwater Avenue West for $399,000.

Mr Shearer said potential buyers were more interested in the block of land than the house. "It's just a matter of time before they all turn over and become either modern houses or duplexes because most are on decent-sized blocks," he said.