In a part of Gold Coast that preserves a suburban feel, cash-flush buyers are flocking to the housing market’s ‘sweet spot’.
Conner Malan, Ray White Burleigh Group.Shack shifting: The four-bedroom house at 28 Arthur Street on 405 sqm sold for $2.7 million.It was a deceased estate. The lady who used to own it passed away and left it to the RSPCA.It was a big price. It should really be sitting at $2.2 million - $2.3 million, but there’s limited supply in this sweet spot and suddenly it went for $2.7 million, which is very, very high for what it is.
Well out of the shadows of Broadbeach’s apartment towers, Mermaid Beach’s lower-density zoning creates a suburban feel that attracts many downsizers. Street frontages in Mermaid Beach are either 10 metres, 12.6 metres or 14.6 metres. This is only 10 metres. They’re weighing up renovating the existing home and flipping it, or doing a duplex – one unit on top of the other. It would have ground-level parking, a first-level unit and another level on top with a rooftop.Seeing potential: Two locals fought it out for the deceased estate that had been bequeathed to the RSPCA.
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