Mermaid Waters’ record house price smashed for a third time

7 Crestmore Court, Mermaid Waters is currently the record holder for Sublab.

Since the closing of the COVID blockade last year, almost every region of the Gold Coast has succeeded in taking advantage of the vibrant real estate market.

Still, most of the headlines are the high sales of mega waterfront and beachside mansions, but with smaller pockets that break the rationale for comparative prices.

7 Crestmore Court, Mermaid Waters, is the third home to break the record for suburban home prices this year and sold for $ 44.31 million.

The one that stands out is Mermaid Waters. Mermaid Waters is a quiet suburb between the blockbuster Broadbeach Waters in the north, Burleigh in the south, and the world-renowned Mermaid Beach addresses in the east.

Mermaid Waters is on the way, although it will never replace the huge mansions along Hedges Avenue that sports stars, high-flying realtors and Hollywood actors like to own and rent.

29-31 Mermaid Waters’ Cessnock Court could quickly regain its crown if auctioned within a few weeks.

The suburbs have had some of the best streaks in the last few months, breaking home price records three times since the beginning of the year.

The record price for January was 29-31 Seth Knock Close. It last sold for $ 3.25 million in 2017 and set a high benchmark.

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However, 3 Vevey St, owned by Gold Coast councilor Darren Taylor and his wife Samantha Reynolds, said on February 13 that a refurbished Palm Springs-style property passed through Harcourt Broadbeach for $ 3,397,000. It surpassed it when it was sold.

Kollosche’s Rochelle Lamers and Eoghan Murphy responded with the April 12 sale of 21 Saxonvale Tce. It stopped at $ 3.41 million after a fierce battle at the auction.

Their glory was short-lived, but on April 12, Kollosche colleagues Marco de Vincentiis and Jay Helprin sold the high-rise waterfront home 7 Crestmore Ave, claimed by local buyers, for $ 34.31 million. , Pushed them into the top slot. ..

Owned by a Gold Coast councilor, 3Vevey Street stole records from Seth Knock Close in February.

The record could be auctioned this month through Hanan Cawley on the Harcourts Coastal at 11:00 am on May 12, with the 29-31 Cessnock Close returning to the market. Please take a look at this space.

As sales grow, so does the median home price in the suburbs. This fell below $ 1 million for the first time this year, rising from $ 950,000 last year to $ 1.04 million.

Luke Henderson, a John Henderson professional who has sold coastal real estate for over 20 years, said entry-level prices for Mermaid Waters real estate have doubled in the last decade.

You used to get a boarding house for about $ 550,000 in a decent size block, but today you’re paying more than $ 1 million for the same house. That is before we start the remodeling.


Luke Henderson: “Mermaid Waters home prices have doubled in the last decade.” Photo: Gerad Williams

Still, buyers aren’t caught up in the steady rise in prices, recognizing the value and potential of an area that was once overlooked, a few kilometers away from the beachfront and Nobby’s dining area.

Henderson said Mermaid Waters is a solid bet on buying prospects as prices are set to continue to rise in the close suburbs of homes where their homes are predominantly populated. ..

He suggested that the strongest excursions were the streets and dead ends closest to the Nobby district.

Place of originMermaid Waters’ record house price smashed for a third time

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