High beach appeal

The beachfront is still as popular as ever with two properties selling for almost $5 million combined

BEACHFRONT homes are as popular as ever with one fetching almost $3 million under the hammer at the weekend.

House hunters and neighbours descended on the Tugun beach shack in droves on Sunday when it went to auction.

Ray White Mermaid Beach agent Troy Dowker, who marketed the property, said a Brisbane buyer placed the highest bid of $2.95 million, which ultimately sealed the deal.

A former prize home on Bilinga’s beachfront, which Mr Dowker marketed, also sold under the hammer on the weekend, fetching $1.865 million.

In other news, the Gold Coast has proven to be one of Queensland’s strongest land markets in the September quarter of 2018.

The latest Oliver Hume Quarterly Market Insights (QMI) report revealed the Gold Coast land market’s median value rate was at $732 per square metre this year — up 24 per cent from the same time in 2017.

Prices also increased across the Gold Coast land market, with median land prices sitting at $333,688 during the September quarter.

Oliver Hume Queensland general manager Matt Barr said the Gold Coast’s median land price increased nine per cent over the past 12 months, largely due to an increase in demand from a growing population sweeping across South East Queensland.

“With offerings of premium waterfront and large lot types on one end and small to medium lot types on the other, the Gold Coast land market remains one of the most attractive in SEQ,” he said.

The report showed buyers in the Gold Coast region had been primarily in the market for land ranging from 400sq m to 500sq m.

The Tugun shack at 1 Short St (main) and former prize home at 1/230 Pacific Pde, Bilinga (lower photos).