High-end sales rival those of last year

Properties worth more than $7m continue to change hands

DESPITE a stabilisation of the local market, several big sales have changed hands over the past week, pushing the number of high-end sales — those of more than $7m — well into the double digits.

An offmarket sale for a Hedges Ave home has cemented itself as the highest on the Coast for 2022, achieving a price of $21m.

Owned by billionaire Chris Morris, it is the third time the house at No. 159 has changed hands over the past six years, each time sold through Kollosche Broadbeach.

Further north and on the canal front, 27 Midshipman Court, Paradise Waters, changed hands for $7.4m, a record price for the street.

It was secured by interstate buyers and earned the owners more than a $2m profit after they bought it in 2019 for $4.75m.

Of the recorded 17 high-end sales so far this year, seven have been in the central and southern beaches, nine in the northern suburbs and one in the hinterland.

While they have predominantly been houses, there have been a couple units in the mix.

The sales show a strong start to the year for the Gold Coast market despite analysts reporting a cooling. In fact, the number of $7m-plus sales this year is higher than the number sold in the same period in 2021, which was at the height of the Covid buying frenzy.

More big-ticket sales are set to follow with a number of luxury addresses currently on the market.

In other sales this week, a record price for a dry block in Ashmore was achieved under the hammer by Ray White Surfers Paradise agent Jackson Paradise with the sale of 22 Midgera Street.

The auction attracted ten registered bidders, all locals, with the opening offer starting at $2.5m before spirited bidding took the price to $3.65m, which is where the hammer fell.

It beat the previous sale price for a dry block in the suburb by $550,000.

Mr Jackson said locals were making a resurgence in the market after taking a hiatus during the Covid buying frenzy.

Meanwhile, a five-bedroom home designed by Jared Poole and built by Dennis Beck on the Isle of Capri, was sold through Avalon Vicario and Amir Mian of Amir Prestige Group for $4.48m.

The house has 30m of wide water frontage and a private sandy beach.

And Renee Pannekoek of Harcourts Coastal sold a four-bedroom home at 18 Whitsunday Dr, Currumbin Waters, for $2.8m. It was purchased by an interstate buyer to use as a holiday home.

27 Midshipman Court, Paradise Waters, is one of a number of high-end sales this year.