Mermaid Beach house values experience “extraordinary growth”

first_imgHedges Ave, Mermaid Beach. Picture: Regi VargheseThat’s an average jump of 8.7 per cent a year and well above Brisbane’s 5.9 per cent.Units in Paradise Point took second position, with the median apartment price increasing from$111,500 to $701,000, or 7.6 per cent annually.Aussie CEO James Symond said it wasn’t a surprise to see suburbs with strong demand from buyers on the Gold Coast performing better than Brisbane over the long term.As well as holding the record sale price for the Gold Coast with a $27 million sale in 2008, Mermaid Beach also holds the highest sale this year. 69 Seagull Ave, Mermaid Beach is on the market.Ross and Megan Jurisich are selling their Mermaid Beach mansion on Seagull Ave but are moving to another property in the suburb because they love the area so much.“We’ve been here just over 12 months and we’ve been in the neighbourhood for 10 years,” Mr Jurisich said.He said there were a number of reasons they loved the area, including the friendly neighbourhood and proximity to restaurants, cafes, bars and the beach.“We’re a stones throw to arguably one of the best beaches in the world,” Mr Jurisich said. House values in Mermaid Beach have jumped from $195,000 to $1.56 million over the past 25 years. Picture: Regi VargheseIF you bought a house in Mermaid Beach 25 years ago chances are your property is worth seven times more than what you paid for it.The Aussie/CoreLogic 25 years of housing trends report found Mermaid Beach experienced “extraordinary growth” in its median house price from $195,000 to $1.56 million over the past 25 years. People enjoy a swim on the beach, Mermaid Beach, Gold Coast. Picture: Regi Varghese“It just offers so much from a lifestyle perspective — it has a central location, is close to restaurants, private schools, shopping centres and the airport.“We are seeing fewer homes come to market and there’s lack of supply which is likely to contribute to the growth trend over the next 25 years.”Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:15Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:15 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p270p270p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenThe Gold Coast has grown up02:15Luke Henderson of John Henderson Professionals Mermaid Beach shared a similar view and predicted future growth to be boosted by the light rail expansion through the suburb.More from news02:37International architect Desmond Brooks selling luxury beach villa16 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“We’ve still got a lot of growth in this current market,” Mr Henderson said.“I think the light rail will be a big drawcard here.” MEGA SALES MAKES COAST’S TOP 10 NEW APARTMENT SALES AT 12 MONTH HIGH center_img A property along Hedges Avenue in Mermaid Beach, Gold Coast. Picture: Regi VargheseThat records belongs to a beachfront house at 103-105 Hedges Ave that changed hands for $11.6 million in April through agent Michael Kollosche of Kollosche Prestige Properties.Mr Kollosche said the suburb’s appeal came down to the lifestyle it offered residents.“Mermaid Beach, unlike all of the other beachside suburbs does not have the high-rise zoning, which keeps it like a community village,” Mr Kollosche said. Ross and Megan Jurisich are selling their Mermaid Beach mansion on Seagull Ave. Gold Coast’s top 10 suburbs for value growth Suburb, 1993 median price, 2018 median price, total change in median over 25 years Mermaid Beach (houses), $195,000, $1.56 million, 700%Paradise Point (units), $111.500, $701,000, 528%Coolangatta (houses), $135,750, $835,000, 515%Burleigh Heads (houses), $141,000, $830,000, 488%Palm Beach (houses), 143,500, $820,000, 471%Miami (houses), $135,500, $770,000, 468%Paradise Point (houses), $181,100, $1.023 million, 465%Helensvale (units), $195,000, $1.1 million, 464%Broadbeach Waters (houses), $195,000, $1.1 million, 464%Hope Island (houses), $121,400, 685,000, 463% Source: Aussie/CoreLogic 25 years of housing trends reportlast_img

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