Dream life, no buyers
It’s an architecturally designed family entertainer with stunning views, located in a rising Gold Coast Hinterland market where other comparable properties attracted heavy buyer inquiries and a swift sale.
But just one group has inspected this acreage home in Tamborine since it launched to market with All Properties Group three weeks ago, prompting agent Nathan Simon to ask, where have all the buyers gone?
Mr Simon said local inquiries had dropped dramatically since the Christmas/New Year storms that lashed southeast Queensland, with buyers confusing the town of Tamborine with Tamborine Mtn up to 12km away. The latter bore the brunt of the ferocious weather event, while parts of Tamborine were unscathed, he said.
“What I’ve noticed since the
Christmas storm is there’s this misconstrued idea that Tamborine and Tamborine Mountain are the same place, and the Tamborine market itself has slowed because buyers are quite wary about damage from the storm,” Mr Simon said.
PropTrack data shows a typical house in Tamborine costs $1.24m, up 10.4 per cent over the past 12 months.
The median house price in Tamborine Mountain increased 6.8 per cent over the same time, to $977,500.
Four sales in Tamborine have been reported to realestate.com.au so far this year, ranging from $790,000 for a four-bedroom house on 1.02ha, to $2.35m for a 6.22ha estate with a pool, spa, halfsized tennis court, and selfcontained cottage.
Mr Simon sold a four-bedroom, two-bathroom home on a 5946sq m lot at 181 Riemore Cct, Tamborine, for $1.61m in November 2023.
More than 30 groups inspected the home, compared to just one for 59-61 Martin Pl, a four-bedroom, two-bathroom house on 4159sq m in the same sought-after estate, also listed at about $1.6m.
Gary and Cheryl Pennell built the Martin Pl house in 2015 and plan on downsizing.
The empty-nester couple said the house was architecturally designed to enhance natural light and airflow, while maximising Hinterland views from its elevated position.
“We positioned the house to face the mountain so we get the breeze in the afternoon and not that western sun,” Mr Pennell said.
Features include doublesized bedrooms, vaulted ceilings reaching 5.3m through living areas, spotted gum hardwood flooring, and a custom servery window from the kitchen opening to a generous entertaining deck with a bar.
There’s also a double-bay shed with workshop, a wine cellar, custom kids’ playground, and established gardens and fruit trees.