Buyers are beachy keen

THE prices of homes in two of the city’s most sought-after areas have ballooned more than 50 per cent in the past five years.

REA Group data shows houses in Mermaid Beach and Broadbeach Waters are worth on average $1.4 million and $1.2 million, respectively.

Ray White Broadbeach principal Mitch Palmer said there was nothing Gold Coasters loved more than spending a day at the beach or on a boat.

“The reason why (those suburbs) have always done well is just because the lifestyle they provide,” he said.

The proximity to fine-dining cafes and restaurants, The Star Gold Coast and Pacific Fair were features that also made the suburbs appealing, Mr Palmer said.

Kollosche Prestige Agents director Michael Kollosche said all suburbs went through peaks and falls but Mermaid Beach and Broadbeach Waters would always be in high demand.

“Everything is in (good) proximity and you’re on the right side of the Coast for the airport,” he said. “A lot of the other (neighbouring) areas ... all have high-rise zoning around them except for a couple of little pockets.”

REA Group chief economist Nerida Conisbee said the two suburbs attracted lots of interstate buyers.

“Both these suburbs are highly desirable and attract interest not just from locals but also people from interstate, Sydney in particular, as well as overseas,” she said.

“This means there is more money being directed to them, pushing up prices.”

Lower Beechmont and Hollywell surprisingly made the top 10 list. Mrs Conisbee said their “unique” features made them appealing.

“Hollywell is very unique from a national perspective, many homes are on the water and it is still possible to buy a property for well under $1 million,” she said. “Big homes on big blocks close to employment priced at under $500,000 are rare to find in most capital cities but in Lower Beechmont you can find exactly that.”

Mermaid Beach

1. — 11.6 per cent annual increase past five years to $1.4 million.

2. — 10.8 per cent each year to $1.2 million.

3. — 10.7 per cent each year to $520,000.

4. — 10.4 per cent each year to $877,500.

5. — 10.1 per cent

Broadbeach Waters Lower Beechmont Burleigh Heads Palm Beach

each year to $847,500.

6. — 8.8 per cent each year to $780,000.

7. — 8.4 per cent each year to $700,000.

8. — 8.3 per cent each year to $807,000.

9. — 8.1 per cent each year to $776,000.

10. — 7.4 per cent each year to $963,000.

Miami Biggera Waters Burleigh Waters Hollywell Bundall