Gold Coast home bought for $6500, on sale for $1 million
A Gold Coast beachside home, bought for $6500 more than four decades ago, is expected to fetch over $1 million dollars at auction next month.
The home, on the market after 46 years with one owner, is likely to attract plenty of buyers as the area east of the Gold Coast Highway has become hot property.
Ray White Broadbeach, marketing agent Troy Fitzgerald, said the suburb was “a little bit understated”.
“That pocket has got a lot of growth still,” he said. “It is the first of that type of property to be on the market in years, and it’s going to set a bit of a benchmark on other properties in the area.”
Gweneth and George Dean bought the house in 1971 for just $6500.
“We had always holidayed in Burleigh Heads and we had another holiday house there,” 80-year-old Mrs Dean said.
“During the 1971 Christmas break I happened to see a property in Riviera Rd, Miami, advertised for $6500 which I felt was worth investigating.”
The two-bedroom weatherboard house which was built in the 1930s and is just 200m from the beach.
“We bought it purely as an investment as we used the Burleigh house whenever we were down,” Mrs Dean said.
“The area was very quiet. The house was called ‘Tween Hills’ as it was directly ‘between the hills’ of North Burleigh and Miami/ Nobby.”
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