PROPERTY Shack shock sets off auction fever
THE sale of a Tallebudgera Creek shack for $2.55 million last month has sent the neighbourhood into a frenzy, with nearby property owners looking to cash in.
The 602sq m block with 50m of water frontage was sold to a local Chinese buyer who plans to build a Hamptons-inspired residence on the site.
Ray White Broadbeach agent Troy Fitzgerald, who took 2 Elanora Drive, Burleigh Heads, to auction, has fielded several calls from homeowners keen to take advantage of a red-hot market.
“Everyone is realising how good it is down there,” Mr Fitzgerald said. “The water is always nice and it’s calm and flat. It’s popular for stand-up paddleboarding and it’s more family-friendly than the ocean.”
The impressive result prompted homeowners Ursula and Ben Watts to take their three-bedroom house at 45 Murlong Cres to auction on March 18.
Ms Watts said the Elanora Drive sale, on the opposite side of the creek, set a new benchmark for properties in the area.
“The area is finally getting the attention it deserves,” she said. “The auction was just awesome, resulting in a great outcome.”
The pair, who own Bam Bam Bakehouse and Paddock Bakery, bought the property in 2015 and have installed a new kitchen, bathroom and deck.
“Murlong Cres is the Hedges Ave of Palm Beach,” Ms Watts said. “From our home you can launch your paddleboards into crystal clear bright blue water right at your front doorstep – doesn’t get much better than that.”
Another Murlong Cres property will go under the hammer on March 4. The fourbedroom house at No.26 is on a north-facing, 556sq m block.
McGrath Coolangatta/ Tweed Heads agent Tony Holland said the Elanora Drive auction had put creek properties on the map. “This house could be bought to live in, renovated or demolished and a new home built.”
The highest sale on Murlong Cres is $1.8 million in November 2016 for number 30.
Tallebudgera Creek divides Burleigh Heads and Palm Beach. The median house price in Burleigh Heads is $725,000; in Palm Beach it is $706,000.