Real Estate

Gold Coast property market back on track following a string of big sales

Gold Coast property market back on track following a string of big sales
Written by The ReReport
As seen in the Source link, written by on 2019-06-27 16:53:00

The Hamptons-style Southport house sold under the hammer at the weekend for $7 million.

SEVERAL multimillion-dollar sales in the past few weeks show the Gold Coast property market is fast bouncing back post federal election.

Industry experts noticed the renewed confidence almost instantly after the election result was called while relaxed lending criteria has further boosted that sentiment.

A Hamptons-style home on Southport’s waterfront leads the charge after fetching $7 million at auction last weekend.

About 70 onlookers watched on as bids for the impressive house on Yacht St climbed from $4 million to $7 million once the hammer came down. It had been on the market for more than a year before it sold.

The former home of Max Christmas sold under the hammer for more than $5 million.

A Paradise Waters property on Commodore Drive also sold at auction last week for $5.3 million.

There had been several failed attempts to sell the waterfront mega-mansion, which was once home to Gold Coast property kingpin and former councillor Max Christmas.

But Ray White Prestige agent Jackson Paradise relisted the residence last month in a renewed push to sell it.

“We just changed the (marketing) strategy and it worked,” he said.

“The prestige market is going from strength to strength.

The block of land on Hedges Ave sold for more than $4 million.

“In the prestige areas, I think there’s been more and more buyers after the election and more confidence out there.”

Another Palm Springs-inspired house at Broadbeach Waters was snapped up for $5.05 million less than a week after it hit the market while a waterfront block of land on Mermaid Beach’s Hedges Ave sold for more than $4 million.

Kollosche director Michael Kollosche said last week they have had a good run of sales since the election.