Set­ting mighty record

The auc­tion of a pala­tial wa­ter­side Palm Beach home has bro­ken a street record by $300,000

Weekend Gold Coast Bulletin - Property - - FRONT PAGE - WORDS ALEISHA DAW­SON

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.

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