Where renos still pay: Qld’s fixer-upper hotspots
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In the bustling real estate market of Queensland, savvy homebuyers are discovering a lucrative niche in purchasing fixer-uppers, renovating them, and reaping substantial financial rewards. While the demand for “turn-key” properties continues to drive up prices, those willing to invest time and effort into renovation projects are finding a profitable entry into the market.
According to Herron Todd White’s (HTW) latest report, there are significant opportunities for astute buyers who can navigate the complexities of the renovation market. A prime example is a home in Dutton Park, which was purchased for $885,000 and later sold for an impressive $4.5 million after undergoing extensive renovations.
“Brisbane’s renovation market in 2025 is characterised by a push-pull between demand for fully completed properties and enthusiasm for major renovation projects,” said HTW director Shannan Chandler. “High construction costs, builder availability, and project management complexities continue to influence buyer behaviour across all market segments. However, opportunities remain for astute purchasers who understand the fundamentals of location, property type, and realistic renovation scope.”
The report highlights that cosmetic upgrades to lower-priced houses and units can be particularly profitable. Ms Chandler noted that demand for entry-level property is expected to peak as first-home buyer incentives are extended in 2026. “While it can mean paying a premium for an unrenovated home, there is an upside,” she said. “Get the finished product right in terms of aesthetics and functionality, and there will be plenty of buyers eager to purchase it.”
The renovation success story of 36 Lindon Street, Dutton Park, where a five-bedroom home sold for $3.615 million more than its purchase price in 2019, underscores the potential for significant returns. However, not all renovation projects yield such high profits. In Camp Hill, a property at 36 Abbott Street was purchased for $1.48 million and sold for $2.32 million after extensive renovations costing between $300,000 and $400,000. “The inner south renovation market has some sobering lessons about the reality of current construction costs and market dynamics,” Ms Chandler remarked. “[This] project moved the property from the competitive low-to-mid $1m price bracket into the much more challenging low-to-mid $2m market segment.”
In this fluctuating market, smaller-scale projects could offer the best returns. The unit market, in particular, shows promise for renovation gains. Experienced renovators are also finding success with value-add projects, such as converting enclosed balconies into ensuites in Queensland cottages in suburbs like Wooloowin and Hendra.
In regional areas, the trend continues. A house at 10 Camphor Wood Court, Robina on the Gold Coast, was purchased for $1.745 million after upgrades to the circa-2002 build, surpassing other comparable sales in the street. On the Sunshine Coast, gentrification is driving demand for move-in-ready homes, though most projects focus on enhancing living conditions rather than turning a profit. A home at 78 Lake Entrance Boulevard, purchased for $1.06 million, sold for $1.33 million following a renovation.
The renovation market in Queensland is not without its challenges, but for those willing to take on the task, the rewards can be substantial. As Ms Chandler emphasised, understanding the fundamentals of location, property type, and realistic renovation scope is crucial for success. The market dynamics may be complex, but the potential for profit continues to attract buyers eager to transform fixer-uppers into dream homes.