Water way to get bang for your buck
HOW much would you pay for a slice of the wet stuff?
The Gold Coast has been ranked among the world’s top destinations for prime waterfront real estate.
The Glitter Strip city posted the third highest premium in sale price for this coveted class of luxury property, according to Knight Frank’s International Waterfront Index 2022.
Our local line-up of worldclass surf breaks, clear canals and riverfront aspect came in just behind Sydney and Auckland, ahead of prestigious cities including Monaco and Cap d’Antibes on the south coast of France.
Cashed-up buyers splashed a premium of 71 per cent for a house on the water on the Gold Coast, compared with a dry block.
Knight Frank head of residential research Michelle Ciesielski said resort-style homes were attracting interstate and international buyers, with many sales negotiated off market.
“Suburb records are still being achieved at the very top end of the market, but in many instances the sales are being carried out off market, given the tight number of listings being advertised,” Ms Ciesielski said.
Tolemy Stevens, of Harcourts Coastal Prestige, said the limited supply of homes right on the sand meant they would always be in high demand.
“External market factors are having an effect on the real estate market around the country, however at this stage the beachfront of the Gold Coast is still shining brightly,” Mr Stevens said.
“I am finding demand is significantly outstripping supply while we have cashedup southerners looking to enjoy the Gold Coast lifestyle, whether they plan to move permanently or spend more time here at a luxury lock-up holiday home. When you mix that demand in with an extremely low inventory, we will continue to see the beachfront thrive and possibly even grow during these challenging times.”
His hottest new listing was the luxurious Northcliffe Residences penthouse in Surfers Paradise, which goes under the hammer on September 7.
A cash offer of $9m was received within the home’s first week on market, with interest fielded from Sydney and Melbourne as well as Singapore.
“Hearing the sound of the waves crash on to the shore at night is quite possibly one of the most underrated experiences in the world, and there’s something really special about being able to walk out of your property to put your feet in the sand and feel like you are on holiday, even if you live here permanently,” Mr Stevens said.
Meanwhile, buyers who prioritise peace and privacy are handing over big bucks to call the extravagant estates lining Main River their own.
Alston, a French-style manor at 5 McMillan Ct, Southport, was 2021’s highest riverfront sale, snapped up for a massive $23.75m by a mystery buyer after just 11 days on the market with Carlie Mills and Amir Mian, of Amir Prestige.
The opulent six-bedroom property is back on the market, this time with a jaw-dropping $35m-plus price tag.
It’s listed via an expressions of interest campaign with Rebecca Moffrey, of Ray White Burleigh Group.
And the canals are hot property too, with a sprawling Broadbeach Waters mansion just sold for $7.35m.
The glamorous five-bedroom home at 17 Grant Pl has 66m waterfrontage and private sandy beach with resortworthy features including a two-level infinity pool.
Marketing agent Jackson Paradise, of Ray White Prestige Gold Coast, said it sold to interstate buyers who had previously owned another local holiday home.
“It’s actually the highest price paid ever for a canal front property in Broadbeach Waters,” Mr Paradise said.
PropTrack data ranks some of Gold Coast’s most prestigious waterfront postcodes among Queensland suburbs where sellers have made bank since interest rates began to rise.
Homeowners who sold up in Broadbeach Waters, Bundall, Clear Island Waters and Paradise Point between March and July this year profited between $636,000 and $892,500, the figures show.