Beachfront home a real prize winner
A GOLD Coast couple are the lucky new owners of a beachfront prize home, but they didn’t win it.
The three-storey Bilinga villa, which was a former prize home, sold under the hammer on Saturday.
The buyers outbid four other house hunters to snap it up for $1.865 million.
Up to 50 spectators crowded into the house’s garage and spilled on to the street to watch the auction unfold.
Bidding started at $1.3 million before quickly climbing to just over $1.8 million when proceedings were briefly paused.
The buyers’ increased bid sealed the deal.
Marketing agent Troy Dowker, of Ray White Mermaid Beach, said the level of interest in the Pacific Pde residence made him quietly confident it would sell at auction.
Throughout the month it was on the market, Mr Dowker said there were a few prospective buyers who inspected the property multiple times and asked for copies of the contract.
“We look at everything (based) on buyer behaviour,” he said.
“Leading into that I knew I had five prospective buyers.”
The new villa is part of a duplex and has four bedrooms and three bathrooms.
The main living area is on the second level where an open plan kitchen, dining and lounge room flows on to an ocean view balcony.
The main bedroom on the top floor also has a balcony overlooking the water.
Mr Dowker described Bilinga as a “highly sought after lifestyle location” that was becoming increasingly popular.
“It’s got a lot of charm and a relaxing vibe about it,” he said.
He said interstate buyers had told him they never knew the suburb existed until recently.
Like many beachside suburbs in the south, the median sale price in Bilinga is increasing at a rapid rate, helping it build a reputation of its own.
The median sale price for a house in the suburb has jumped 12 per cent in the past year and 90.3 per cent in the past five years to $885,000.
The median unit price has seen a more moderate increase of 2.9 per cent in the past year and 48.1 per cent in the past five years to $553,750.
“It’s a great part of world,” Mr Dowker said.
“It’s really stepped from its neighbouring
A few suburbs north, a rundown fisherman’s hut with an extensive history also sold under the hammer at the weekend. the
out suburbs.” WITH ALEISHA DAWSON & JESSICA BROWN
The Currumbin Waters property on Michel Dve was snapped up for $885,000 at auction.
The house was built by Bruce Buchanan in 1956 where he lived until earlier this year.
The builder was an avid fisherman who took advantage of the underdeveloped riverside land overlooking Currumbin Creek.