Setting mighty record
The auction of a palatial waterside Palm Beach home has broken a street record by $300,000
A HOUSE fronting popular Tallebudgera Creek sold under the hammer on the weekend for $3.3 million — smashing the street record by $300,000.
Overlooking Tallebudgera Creek, the residence at 111 Tallebudgera Rd, Palm Beach, is one of just four north-facing main creek homes that has direct access to its own private beach with views of the park.
It was offered to the market at an onsite auction on Sunday.
“It was an exceptional turn out, even with the intermittent downpours throughout the day,” said marketing agent Rhys Wildermoth of First National Palm Beach.
“We had a solid turnout of 150 groups and 18 registered bidders.
“The auction didn’t disappoint with plenty of bids being passed back and forth until finally settling at $3.3 million.
“Justin Nickerson was our auctioneer and did an exceptional job getting the ball rolling and kept the atmosphere pumping.”
Mr Wildermoth described it as a “once in a generation” sale.
CoreLogic property records show the property, which was on the market as an estate sale, last changed hands in 1998.
The previous highest sale on the street was No. 107 which changed hands for $3 million in 2007. In other news, the Gold Coast property market is on track to defy a nationwide slump and continue to grow after the 2018 Commonwealth Games.
That was the message from the Real Estate Institute of Queensland (REIQ) earlier this week on the back of strong figures showing the Gold Coast is the standout region, as well as the city’s top five highest-selling suburbs.
The city’s housing market grew 7.7 per cent over the past year according to REIQ, putting the Gold Coast as the state’s best performer. Unit prices also grew 3.7 per cent over the 12-month period.
And finally, don’t forget to flip your magazine for all the latest development news. We have divided our real estate magazine into two sections to make it even easier to find what you’re looking for.
111 Tallebudgera Drive, Palm Beach, has sold at auction for a record-breaking $3.3 million.