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Buyers continuing to flock to Mermaid Beach

first_imgLuke Henderson and Andrew Henderson of John Henderson Professionals Mermaid Beach. Picture: Jerad WilliamsMore from news02:37International architect Desmond Brooks selling luxury beach villa15 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoMr Henderson said the range in sold prices varied significantly depending on the location and type of property within Mermaid Beach.“I think that one of the major appeals of Mermaid Beach is that property buyers at all stages can find a property suitable for them,’’ he said.“At the top of the market we sold a beachfront mansion on Hedges Avenue for $16.45 million while the least expensive property we sold was a unit at 2340 Gold Coast Highway, which changed hands for just $231,000.” View of the Gold Coast Highway from Hellenika at Nobbys Beach. Picture: Richard Gosling However, Mermaid Beach, which has the highest median property price of all Gold Coast suburbs at more than $1.6 million, is bucking the trend.John Henderson Professionals Mermaid Beach director Luke Henderson said while buyer demand was now showing the first signs of easing in years, sales had still not slowed over the past six months.“When we examine our internal sales data, our agency sold 85 properties in Mermaid Beach alone during the past year, of which 44 were sold in the past six months,’’ Mr Henderson said.“So, we can see that sales have not slowed at all during the past six months.“Meanwhile, the number of sales of properties that we have sold for above the $1 million mark has remained pretty constant between 35 per cent and 39 per cent over that time.” Property along Hedges Ave, Mermaid Beach. A family enjoying the beach, Mermaid Beach, Gold Coast. Picture: Regi Varghese He said the entry level prices for older-style detached homes east of the Gold Coast Highway now sat at around the $1.2 million mark and buyers are snapping them up to build new homes.However, buyers could find homes for significantly less on the western side of the highway. Mr Henderson said Mermaid Beach has undergone a major period of gentrification over the past five years.“While the suburb has always been considered one of the Gold Coast’s most desirable addresses, there are a number of factors which have made it a stand out performer in recent years,’’ said Mr Henderson.“Firstly, the council saw the wisdom in protecting the three-storey height limits in the residential areas while allowing for higher developments along the Gold Coast Highway. People enjoy a swim on the beach, Mermaid Beach, Gold Coast. Picture: Regi Varghese Cashed-up buyers are continuing to dive into the Mermaid Beach property market.CASHED-UP buyers are continuing to dive into the Mermaid Beach property market despite the slowdown in top end markets in Australia’s southern states.Global investment bank Morgan Stanley this week released research which revealed the nation’s most expensive homes in Sydney and Melbourne were falling at an annual rate of about eight per cent. Cyclists along Hedges Avenue, Mermaid Beach, Gold Coast. Picture: Regi Varghese THE FAST AND THE LUXURIOUS: V8 STAR’S MANSION NEW ERA FOR COAST PROPERTY “I think the that one of the major appeals of Mermaid Beach is that property buyers at all stages can find a property suitable for them,” Luke Henderson says. “The height restrictions in the residential areas have helped maintain that strong community feel in the suburb and have encouraged property owners to upgrade their homes without the fear that a high-rise apartment will be built next door.“At the same time developments along the highway have revitalised what was becoming a tired strip of shops.“The suburb has benefited majorly from the growth of the cafe culture and the area now is home to some of the city’s best restaurants, cafes and bars.“Then you have the knowledge that the light rail is coming plus all the developments that are occurring along the Gold Coast Highway.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. 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