Hedges hogs priciest street title by $2m
ALMOST $7m separates the value of the Gold Coast’s richest street – and its poorest.
Analysis by Ray White Economics reveals Hedges Ave in Mermaid Beach – the home of mining magnate and politician Clive Palmer, billionaire developer Bob Ell and Harvey Norman Queensland boss Stephen Cavalier – has the city’s highest median property sale price of $7.05m.
It is followed by Paradise Place in Surfers Paradise ($5.075m) and Jefferson Lane at Palm Beach ($5m).
Conversely, Oxley Dr in Coombabah has the cheapest median street sale price at $287,500. It is almost $300,000 less than the suburb’s median of $585,000.
Oxley Drive is followed by Stoney Creek Circuit in Ormeau, which has a median of $297,500. The bottom three is rounded out by Reedy Creek Rd in Burleigh Waters ($303,500), despite the wider suburb having a median of $1.14m.
Ray White Mermaid Beach’s Conner Malan said it was no surprise Hedges Ave topped the list.
“You get a sense of credibility being on Hedges Ave – it’s the cream of the crop and as high as it gets,” Mr Malan said. “It adds to your property resume because if you say Hedges Ave everyone knows where you’re talking about.”
He said height restric
tions in Mermaid Beach meant there were no skyscrapers which was also appealing to buyers.
REIQ Gold Coast chairman Andrew Henderson shared a similar view.
“People generally aspire to live on the beach and at Hedges Ave it’s absolute beachfront,” he said. “You can walk straight from your house on to the sand, one of the very few places on the Gold Coast, if not the coun
try, where you can do that.”
Further south, Palm Beach’s up and coming Jefferson Lane is starting to give Hedges Ave a run for its money.
The once quiet suburb has surged over the past five years with a $12m sale last month cementing the suburb’s rock-star status.
Kelli and Tim Wood own a property at 272 Jefferson Lane, which they have just put on the market
through Tyler Wagstaffe of JW Prestige Agents.
The pair, who renovated the three-bedroom beach cottage after buying it in 2017, said they enjoyed living on Jefferson Lane.
“It’s great and just so friendly here,” Mrs Wood said. “When I’m walking down the lane with the dogs, everyone stops and has a chat.
“It’s honestly a great place to live.”