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Seaside suburbs the star performers of southeast Queensland property market

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Seaside suburbs the star performers of southeast Queensland property market

Haley Hughes, pictured with her 3-year-old son Harry, is selling her waterfront home at Mermaid Waters. Picture: Nigel Hallett. Source: News Limited

THE lure of affordability, lifestyle and world-class beaches made southeast Queensland’s coastal markets the stars of the property sector in 2017.

THE lure of affordability, lifestyle and world-class beaches made southeast Queensland’s coastal markets the stars of the property sector in 2017, fuelled by a fresh wave of interstate migration.

While home values grew just 2.4 percent in Brisbane over the past 12 months, they jumped nearly 7 percent on the Gold Coast, while houses climbed in value by more than 7 percent on the Sunshine Coast, according to the latest data from property analytics firm CoreLogic.

Half of the top 10 property sales in Queensland last year were made on the Gold Coast; totalling $48.9 million.

And some agents say the markets are set to strengthen further in 2018 as Sydney and Melbourne homeowners cash out of their million-dollar homes in favour of a more laid-back, affordable lifestyle in the tropical north.

The REIQ’s latest Queensland Market Monitor shows the median house price in the Sunshine Coast statistical division jumped from $557,500 in June to $570,000 in September, while the Gold Coast achieved a new house price record of $606,000.

The Queensland government recently declared the number of interstaters migrating to the state was at its highest level in eight years, with 15,716 people moving here in the year to March 2017 — most coming from New South Wales.

CoreLogic senior research analyst Cameron Kusher said both the Gold Coast and Sunshine Coast property markets had benefited from that boost in interstate migration more than Brisbane.

Areas like Broadbeach Waters on the Gold Coast have experienced strong property price growth. Photo: Chris Bashall. Source: Supplied

Areas like Broadbeach Waters on the Gold Coast have experienced strong property price growth. Photo: Chris Bashall. Source: Supplied

 SQM Research managing director Louis Christopher expects both markets to outperform the state’s capital in 2018, writing in his latest Boom and Bust Report that the Gold Coast had a diversified economy and had benefited from the lead-up to the Commonwealth Games.

Ray White Surfers Paradise holds its major auction event of the year later this month to coincide with the January holiday period when many interstate and overseas visitors flock to the Gold Coast.

More than 100 properties will go under the hammer at its annual ‘The Event’ on January 28, with many holiday homes and investment properties set to sell to interstate and local investors.

This house at 80 Admiralty Dr, Surfers Paradise, is going to auction on January 28 through Ray White. Source: Supplied

This house at 80 Admiralty Dr, Surfers Paradise, is going to auction on January 28 through Ray White. Source: Supplied

Ray White Surfers Paradise chief executive Andrew Bell said the region had recorded solid sales figures in 2017 thanks to economic stability, job creation and steady population growth.

Mr Bell said the property market at the northern end of the Gold Coast had strengthened considerably because of new medium and high rise development in areas like Southport and Hope Island.

“That’s where all the new development is and it’s given people a lot more opportunity,” he said.

Mr Bell said suburbs like Coomera and Pimpama were had also become “powerhouses” for house-and-land developments, attracting demand from interstate.

“It’s not just people buying holiday homes,” he said.

“It’s just getting so difficult to live in Sydney with the cost of living and the traffic.

“People are saying ‘it’s time to move!’ and I think they’re seeing the Gold Coast as being the best it’s ever looked.”

And with vacancy rates of less than 1 per cent on the Gold Coast, Mr Bell said an increase in home construction was more than welcome.

“We can have 20 plus people turn up to an open home, so we desperately need more investors to buy some stock to help with this huge demand from tenants,” he said.

Kollosche Prestige Agents managing director Jordan Williams said the Gold Coast property market experienced periods of strength and weakness in 2017, but he predicted a bigger year in 2018.

“I know for a fact that for the last half of last year a lot of buyers were sitting on their hands reading the negative articles that said the market was going to crash,” Mr Williams said. “They’ve bought off me since then and realised its actually going to continue to improve.

“I think it’s going to be an exciting year.”

Mr Williams also said the majority of homes he sold were cash contracts, unlike the pre-GFC days.

“We have very affluent local and interstate buyers who are fourth, fifth and sixth generation wealthy,” he said.

“Our vendors who own these homes are also affluent, successful people and they don’t muck around with finance and building and pest inspections.”

Kristian and Haley Hughes are selling their five-bedroom waterfront home at 31 Pilot Court, Mermaid Waters through Kollosche Prestige Agents.

They’ve lived there for nearly three years, but have decided to sell and rent in the area so they can use the capital to fund Mrs Hughes’ new make-up venture.

This property at 31 Pilot Court, Mermaid Waters, is for sale. Source: Supplied

This property at 31 Pilot Court, Mermaid Waters, is for sale. Source: Supplied

Mrs Hughes, who runs The Institute of Makeup beauty school, said Mermaid Waters had benefited from the growth in popularity of nearby Burleigh Heads.

“I feel it’s becoming the new central location — nestled between Burleigh and Broadbeach,” she said.

The Hughes are hopeful they’ll benefit from the growth in the market over the past 12 months, with the median house price in Mermaid Waters increasing by more than 17 per cent.

The view from the home at 31 Pilot Court, Mermaid Waters. Source: Supplied

The view from the home at 31 Pilot Court, Mermaid Waters. Source: Supplied

Their family home is decked out with floor-to-ceiling glass, which captures spectacular 180 degree views.

“For someone who wants to make it their forever home, they’ll never run out of room,” she said.

“It was hard finding a place to put an offer on even then, because (homes) were selling before they even went to market.”

Further north, Noosa was the standout performer in 2017.

REIQ figures show Noosa was the state’s top performing market in the three months to September, recording annual house price growth of nearly 10 per cent.

Over the past five years, Noosa’s median house price has jumped by more than 40 per cent.

Main Beach at Noosa. Photo: Chantay Logan. Source: Supplied

Main Beach at Noosa. Photo: Chantay Logan. Source: Supplied

Tom Offermann Real Estate principal Tom Offermann said the company ended 2017 with eight sales averaging $5.9 million each.

The agency sold a sprawling waterfront home with a drive-through boatshed, two jetties and a boat ramp at 29-31 Wyuna Dr, Noosaville, for close to $11.9 million late in 2017 — setting a new record for the area.

This property at 29-31 Wyuna Dr, Noosaville, recently sold for about $11.9m. Source: Supplied

This property at 29-31 Wyuna Dr, Noosaville, recently sold for about $11.9m. Source: Supplied

“It’s not just the prestige properties that buyers are targeting,” Mr Offermann told The Courier-Mail.

“There are good opportunities for buyers at all levels who want to invest or live here.”

Another driving factor behind demand for the Gold Coast and Sunshine Coast markets is a lack of stock, but BIS Oxford Economics expects rising supply over the next three years to slow forecast price growth.

Another coastal market in Queensland that performed better than expected in 2017 was Cairns.

BIS Oxford Economics noted Cairns had benefited from improved tourism and a deficiency of dwellings, which was estimated to have pushed the median house price up by 20 per cent in the past five years.

It expects home prices to grow another five per cent until 2020.

Originally published: www.news.com.au

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Market Place

The cotton farmer who made $100k for every month he owned this Gold Coast mansion

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The cotton farmer who made $100k for every month he owned this Gold Coast mansion

This view is why Alan Frost made $5 million on 103-105 Hedges Avenue, Mermaid Beach, in only four years.

More than $20 million in luxury Gold Coast property has sold since the the Commonwealth Games wrapped up on Sunday, including Australia’s most expensive golf course-fronted house and a record $11.6 million Hedges Avenue beach home.

Cashed up locals, a shortage of beachfront trophy homes and a push from interstate buyers have continued to drive prices up on the glitter strip, where property prices outperformed every other region in Queensland last year, growing by nearly 8 per cent.

It’s been nothing but good news for the Gold Coast economy and, in turn, the local property market. Last week it was revealed a $30 billion pipeline of private and public development would be rolled out on the Gold Coast over the next decade, putting paid to criticisms it would suffer a post-Commonwealth Games slowdown.

This week, a slew of high profile homes sold, including a beachfront Hedges Avenue house belonging to retired cotton farmer Alan Frost. The house, which Mr Frost paid $6.5 million for in 2014, fetched $11.6 million.

That’s a staggering $5 million profit for Mr Frost, or just over $100,000 gain for every month he owned it.

Selling agent Michael Kollosche of Kollosche Prestige said the home sold in an off market deal to a family moving interstate from Melbourne.

The cotton farmer who made $100k for every month he owned this Gold Coast mansion
Australia’s most expensive golf course-fronting home: 2230 Arnold Palmer Drive, Sanctuary Cove. Photo: Supplied

“They’ve been holidaying up here for many, many years and have decided to move up here and put their kids into local schools,” he said.

“There’s certainly a lack of this type of stock on the beachfront right now, which is why it was an off market sale — we had to approach people to see if they would consider selling.

“There’s a lot of depth to the Gold Coast’s property market now and along the beachfront, supply is very, very, tight. It’s hard to find people who want to sell.”

The cotton farmer who made $100k for every month he owned this Gold Coast mansion
Agent Matt Gates says discerning golf course-fronting buyers are “all about the aspect”. Photo: Supplied

Earlier this week, a new record was set for Australia’s most expensive golf course-fronted house with the sale of a $6.5 million home at Sanctuary Cove.

Retired corporate executive David Baird and his wife Marion snapped up the four-bedroom contemporary home at Arnold Palmer Driveafter only one inspection, getting in before it was even placed on the market.

They bought it to replace their Paradise Waters weekender, which they recently sold for $8.8 million, Ray White Sanctuary Cove agent Matt Gates said.

The cotton farmer who made $100k for every month he owned this Gold Coast mansion
Just a little luxurious: 31 Buccaneer Court, Surfers Paradise. Photo: Supplied

“Waterfront has always commanded the attention of the trophy home buyer profile but that is changing. In Sanctuary Cove we meet people who can afford to buy whatever they want,” Mr Gates said.

“I don’t think we had to highlight the advantages of the Gold Coast to locals, but the Games would have helped put a spotlight on it for those outside of the coast.”

At Surfers Paradise, Ray White Broadbeach agent Sam Guo sold the landmark residence 31 Buccaneer Court for a street record of nearly $6 million to a local Chinese buyer.

The cotton farmer who made $100k for every month he owned this Gold Coast mansion
A new street record for Buccaneer Court, Surfers Paradise. Photo: Supplied

“There is no doubt that the eyes of the world has been on the Gold Coast lately and people are loving everything that our lifestyle and market has on offer,” he said.

“The Gold Coast has well and truly come of age and it’s great to see such confidence in the luxury market.”

Source: www.domain.com.au

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Market Place

Gold Coast mansion sells for almost $6 million

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Gold Coast mansion sells for almost $6 million

31 Buccaneer Court, Surfers Paradise has sold for close to $6 million.Source:Supplied

ONE of the Gold Coast’s most recognisable waterfront mansions, once dubbed the “Addams Family house” has sold for almost $6 million.

The three-level Surfers Paradise house, previously featured in the Gold Coast Bulletin’s 50 Dream Homes magazine, underwent a multi-million transformation before it hit the market in August, 2017 through an expressions of interest campaign.

Gold Coast mansion sells for almost $6 million A sight to see from the front.Source:Supplied
Gold Coast mansion sells for almost $6 million

From the water.Source:Supplied

Gold Coast mansion sells for almost $6 millionBefore the mega renovation.Source:News Limited

It was listed at $6.95 million in October before dropping to $6.25 million in February.

It’s now under contract for close to $6 million — it’s understood a local Chinese buyer bought the property.

Vendor Pat Worboys bought the mansion with a ‘widows walk’ and sharp spires for $4.025 million in 2014.

Armed with a set of plans and the guidance of her designer Michelle Marsden, she transformed the Victorian property into a dreamy French Chateau in 18 months.

The mother-of-three said she took on the impossible renovation challenge after getting advice from a number of architects.

 Gold Coast mansion sells for almost $6 millionPat Worboys has sold her mansion at Paradise Waters. Picture: Jerad WilliamsSource:News Corp Australia

“We bought it on December 14 and decided to have an ‘Addams Family’ Christmas party before ripping out all the old interiors,” she told the Bulletin at the time.

“I knew it was going to a be a renovation that you had to put all in or nothing.

“We wanted to keep the integrity of the house but create a more liveable space with more light.”

 Gold Coast mansion sells for almost $6 millionUnwind beside the fireplace.Source:Supplied
 Gold Coast mansion sells for almost $6 millionThere is plenty of space here.Source:Supplied
 Gold Coast mansion sells for almost $6 millionLuxury at every turn.Source:Supplied

Sam Guo and Julia Kuo of Ray White Broadbeach handled the sale and described the property as a “landmark residence”.

Inspired by a classic French Chateau, the house has iron balconies, imported french window shutters and a grand staircase.

With an internal lift, the home boasts the finest fittings and fixtures, including imported marble, polished Italian Shivakashi granite, pristine Baltic Oak parquetry floors and a grand staircase.

 Gold Coast mansion sells for almost $6 millionThe kitchen has plenty of space for the entire family.Source:Supplied
 Gold Coast mansion sells for almost $6 millionWelcome to luxury.Source:Supplied

In a rare point position at the end of a cul-de-sac and set out over a sprawling 1102sq m, the property has 180-degree Hinterland and skyline views.

All the bedrooms feature ensuites and walk-in robes, complete with ducted airconditioning and plenty of views.

The renovation included moving the pool, creating an outdoor entertaining space and putting in a balcony on the third level which required a 100m crane.

The house originally belonged to a European couple who built the house in 2000.

 Gold Coast mansion sells for almost $6 millionMake a splash in the pool.Source:Supplied
 Gold Coast mansion sells for almost $6 millionStart entertaining.Source:Supplied

Source: www.news.com.au

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Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

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Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

74-76 The Promenade, Isle Of Capri, will be auctioned off on April 7.Source:Supplied

SELLERS and real estate agents are hoping to leverage off the thousands of visitors flocking to the Gold Coast for the event.

ABOUT 1.5 billion people are turning their eyes to the Gold Coast over the next 10 days, providing a unique opportunity for homeowners to sell their properties.

Dozens of auctions have been scheduled throughout the Commonwealth Games to leverage off the hundreds of thousands of visitors expected to flock to the city.

Despite road closures and plenty of sporting action, sellers and real estate agents are hoping interstate and overseas visitors will attend auctions to secure their own slice of paradise.

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
23 Hill Ave, Burleigh Heads, is among one of the first to go to auction throughout the Games on April 7.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
47 Gumtree Crescent, Upper Coomera, will also go under the hammer on April 7.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
This Coolangatta property at 38 South Street will go to auction on April 8.Source:Supplied

Ray White Burleigh Waters sales agent Brent Hodge said its Gold Coast South Network had organised a marketing campaign around the event.

More than 20 properties will go to auction on April 8, which would be held at one location in Tweed Heads – well away from the city’s chaos.

He said they couldn’t guarantee people were going to “come off the aeroplane and buy property” but thought it was worth a try.

Ray White Prestige Gold Coast agents Sam Guo and Julia Kuo have multiple properties set to go under the hammer over the next two weeks.

Mr Guo said sellers didn’t want to miss out on the influx of visitors.

They had been inundated with requests from buyers to market or auction their homes throughout the Games.

“Our clients are hoping they might take advantage of all the interstate (visitors),” Mr Guo said.

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

27 Knightsbridge West Parade, Sovereign Islands, will go under the hammer on April 8.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
19 Naples Ave, Isle of Capri, will go to auction on April 14.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
9/17 Marseille Court, Sorrento, will also be auctioned off on April 14.Source:Supplied

He said they were hoping to appeal to those who wanted to explore the city while they were here and were interested in buying.

“I don’t believe everyone will go to see all the games,” Mr Guo said.

However, some agents remained unconvinced that holding auctions during the event would make much of a difference.

Professionals Mermaid Beach managing director Andrew Henderson said they would continue to market properties throughout the games but would hold off on auctions until May.

“We avoided April,” Mr Henderson, who is also the REIQ Gold Coast zone chair, said.

“It’s a great time to promote, we’ve been putting on as much stock as we can.

“I just didn’t think it was the right (time to) do auctions with road closures.”

Professionals Southport sales consultant Andrew Wright considered pushing one of his properties set to go under the hammer on April 8 back.

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
This Mermaid Waters home at 19 Cadence Avenue will go to auction on April 14.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

32 Emu Court, Sorrento, will go under the hammer on April 15.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
13 Glauca Street, Burleigh Heads, will also go to auction on April 15.Source:Supplied

He was concerned about traffic congestion but said they had already postponed an auction on the property.

“It came into consideration because we were actually thinking of cancelling … but we just decided to proceed,” Mr Wright said.

“Geographically, that place is a long way from the Southport and Cararra hustle and bustle.

“There’s a lot of locals … that are interested (in the property), there may well be some interstate interest as well. But it certainly wasn’t a marketing plan.”

Burleigh Miami Realty principal Neil Pasley would have changed the April 15 auction of one of his properties if it were close to a big Games sporting venue.

He said the owners chose the date based on personal reasons but it didn’t bother him because it was not near a Games precinct.

He didn’t think many visitors would attend.

“Most people will either be at the Games or watching it on TV,” Mr Pasley said.

“If someone is interested, they’re going to come anyway.”

Auctions during the Commonwealth Games:

– 23 Hill Ave, Burleigh Heads (April 7)

– 47 Gumtree Crescent, Upper Coomera (April 7

– 74-76 The Promenade, Isle of Capri (April 7)

– 38 South St, Coolangatta (April 8)

– 27 Knightsbridge Parade West, Sovereign Islands (April 8)

– 19 Naples Ave, Isle of Capri (April 14)

– 9/17 Marseille Court, Sorrento (April 14)

– 19 Cadence Ave, Mermaid Waters (April 14)

– 32 Emu Court, Sorrento (April 15)

– 13 Glauca St, Burleigh Heads (April 15)

Source: www.news.com.au

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