Aleisha Dawson, RealEstate.com News
THE dream of buying a beachside home in Mermaid Beach for less than $1 million has all but disappeared.
Luke Henderson of John Henderson Professionals Mermaid Beach said four years ago beachside side homes were selling for as low as $750,000 while run-down cottages were now fetching more than $1 million.
He said recent sales highlighting price growth included an older-style three-bedroom brick cottage that sold for $1.25 million, a four-bedroom brick and fibro house that sold for $1.345 million and a well-presented, three-bedroom house that sold for $1.35 million.
Mr Henderson said Mermaid Beach had always been popular with buyers but the council decision to restrict building heights in the beachside precinct had fuelled demand from buyers in recent years.
“People want to live within walking distance to the beach while still being close to all the attractions that the Gold Coast has but many don’t want to be surrounded by high-rises,” said Mr Henderson.
“Mermaid Beach provides all of that and that has been reflected in the revitalisation of the suburb in the past four years and in its price growth.”
Mermaid Beach has been one of the Gold Coast’s biggest movers in recent years with median house prices jumping 68 per cent to $1,547,500 in the three years to November, 2017.
31 Sunbrite Ave, Mermaid Beach recently sold for $1.225 million.
This article was originally published on RealEstate.com.au
