No Comments

Storm-damaged Beecroft home sells well over reserve at auction

Room for improvement – 6 Bingara Rd, Beecroft.

A family dug deep to buy a storm-damaged house in Sydney on Saturday, unperturbed by the smashed up garage and the tarpaulin covering the roof.

More than 30 people turned out to the auction at 6 Bingara Rd, with six buyers registering to bid on the three-bedroom house on 935sqm.

MORE: Strong bidding reported at Sydney auctions

Housing shortage emerging in key Sydney areas

There was plenty of interest in the property, despite the fact it is in need of major repairs for the storm damage.

Repair costs were estimated between $50,000 and $100,000.

Betty Ockerlander, of McGrath Epping took 78 groups through the home in the lead-up to the auction and issued 30 contracts.

Bidding opened at $1.3 million, just a touch below the reserve of $1.35 million. Three of the bidders took part, trading 22 bids before the hammer fell on the final sale price of $1,492,500.

A local family plan to repair the house, extend it and them move in, Ms Ockerlander said.

The home’s location had broad appeal for families. The corner block is in the sought-after Cheltenham Girls’ and Carlingford High school catchments.

SIGN UP HERE FOR THE NSW REAL ESTATE NEWSLETTER

The post Storm-damaged Beecroft home sells well over reserve at auction appeared first on realestate.com.au.

No Comments

St Kilda sales: Melbourne lockdown prompts spending splash

No. 11 St Leonards Avenue, St Kilda sold for an undisclosed sum.

A couple of high-end sales in St Kilda were triggered by Melbourne’s move into stage four lockdown, with buyers spurred on by the coronavirus restrictions.

The Agency Albert Park partner Sam Hobbs sold three St Kilda properties last week for a combined cost of more than $13m.

Each sale price was undisclosed, but 11 St Leonards Avenue had an asking price above $6m when it was placed on the market at the start of the year.

RELATED: St Kilda multiplex built by Sir John Monash hits the market


Beaconsfield Pde, Port Melbourne landmark is two homes in one


Melbourne’s most popular rental streets: Federal St, Footscray No. 1

An open-plan kitchen and entertaining area at 11 St Leonards Avenue, St Kilda.

The zone extends easily to the backyard.

A bay window and high ceilings in one of the five bedrooms.

“It’s been on the market pretty much all year,” Mr Hobbs said. “I actually think the new lockdown was possibly the catalyst for the sale.”

“The buyer values the home because it has two offices and it’s a good size — working from home moving forwards is more attractive. I think that’s actually what’s triggered this sale.”

Mr Hobbs also sold 5 Crimea St off market.

A grand home at 5 Crimea St, St Kilda sold in an off-market deal.

“It’s just such a great house that in any market it would’ve done well,” he said.

“Most of the interest was from local St Kilda people — quite a few local upsizers.”

Completing the trifecta of sales was that of 14A Havelock St, which sold in just five days.

“Everyone was jumping over themselves to get it because of a lack of quality stock,” Mr Hobbs said.

A townhouse at 14A Havelock St, St Kilda sold in five days.

Polished concrete floors with underfloor heating in the open-plan downstairs space.

Those sales came before realestate.com.au recorded a preliminary clearance rate of 81 per cent for Melbourne’s online auctions.

Among the results was a marathon auction at 8 Gamble Street, Oakleigh East, which sold for $940,500 after almost an hour of bidding.

Bidding lasted almost an hour at 8 Gamble St, Oakleigh East.

The property fetched a $130,500 premium for the vendors.

Ray White Oakleigh agent George Midas said the buyer was the only bidder that didn’t view the property in person, before stage four restrictions kicked in.

“They only viewed it from a virtual video that I did on my phone just before restrictions tightened back up,” Mr Midas said.

A home at 58 Greenwood Drive, Bundoora sold for $765,750 in an online auction.

A three-bedroom house at 58 Greenwood Drive, Bundoora sold for $765,750.

The property has outdoor entertaining at its heart.

Barry Plant chief executive Mike McCarthy said the sale, which went $15,750 over reserve, was a “good result” for the vendors.

READ MORE: West Footscray selling campaign starring Skid the dog a success


Melbourne’s most powerful streets: Where our rich listers, celebs live


Neighbourhood Watch fights crime in Melbourne’s new estates

jack.boronovskis@news.com.au

@jackboronovskis

The post St Kilda sales: Melbourne lockdown prompts spending splash appeared first on realestate.com.au.

No Comments

Victoria dominates list of happy sellers

Six of the nation’s top 10 happiest regions for sellers are in Victoria, according to a new report.

The RateMyAgent survey of 33,000 Australians rated the Central Highlands and Goldfields as the state’s happiest for vendors, with a net seller satisfaction rating 45 per cent above average.

That placed the region third across the country, behind Canberra and Hobart.

Other high-placed Victorian regions included Melbourne’s outer east (43 per cent above average), northern suburbs (42 per cent) and the city’s outer west (41 per cent).

RELATED: Why you shouldn’t judge a house by its facade


Coronavirus: Regional Victoria property markets hit by ban on Melbourne buyers


Agents lack knowledge of energy ratings: Environment Victoria study

A unit for sale at 4/18 Ayres St, Creswick, in one of Australia’s happiest spots for vendors.

A bluestone church at 1713 Ballarat Daylesford Rd, Newlyn is on the market for $1.3m.

Eastern Melbourne and the Mallee rounded out the top 10, at 40 per cent above the net seller satisfaction average.

RateMyAgent chief executive Mark Armstrong said there would likely be a sharp drop in seller satisfaction in the short term, with Melbourne buyers unable to inspect homes during stage four restrictions.

“But we’ll see it find its feet and bounce back pretty quickly,” he added, noting there had been an “astounding turnaround” following the first coronavirus lockdown.

“If we look at what happened in April, we saw seller satisfaction drop and that was really because the market just completely locked – everyone just froze,” Mr Armstrong said.

No. 8 Olivette Ave, Upper Ferntree Gully has price hopes of $2.3m-$2.5m

Leading Real Estate agent Adam Sacco said vendors delaying their selling plans had reduced stock on the market, leading to multiple bidders on available properties.

“A lot of people have held off selling in Victoria during the past six months, which has really dialled up the competition between buyers looking to enter the market or upsize,” Mr Sacco said.

“Victorian suburbs with lower median prices are going to remain extremely buoyant in the coming months, largely because of the government subsidies in place.”

Top 10 happiest regions for sellers:

1. Canberra ACT (47% net above)

2. Hobart TAS (46% net above)

3. Central Highlands and Goldfields VIC (45% net above)

4. Metropolitan Adelaide SA (44% net above)

5. Outer East Melbourne VIC (43% net above)

6. Northern Melbourne VIC (42% net above)

7. Inner West Sydney NSW (41% net above)

8. Outer West Melbourne VIC (41% net above)

9. Eastern Melbourne VIC (40% net above)

10. The Mallee VIC (40% net above)

READ MORE: Melbourne construction industry stage four guidelines updated


Steadfield Melton South selling houses at half Melbourne median


Melbourne stage four: Video tours keep property market moving

jack.boronovskis@news.com.au

@jackboronovskis

The post Victoria dominates list of happy sellers appeared first on realestate.com.au.

No Comments

The Block’s Scott Cam on why you can’t keep a Blockhead down

COVID-19 might have temporarily shut the hit TV series down, but as host Scott Cam explains, you can’t keep a good Blockhead down. 

This year, The Block is being filmed in Brighton, a picturesque and very expensive suburb in Melbourne’s bayside. Five houses have been craned into position ready for five pairs of contestants to renovate up a storm over the course of 12 weeks. 

This year’s contestants are father/daughter duo, Harry and Tash from Victoria, Sarah and George from New South Wales, farmer Daniel and his wife Jade from South Australia, Luke and Jasmine from Western Australia and young couple, Jimmy and Tam from Queensland.

Realestate.com.au chatted to The Block host Scott Cam to find out what to expect from this year’s epic, COVID-19-affected series.

The Block Scott Cam

Scott Cam returns as host in The Block 2020. Picture: Channel Nine

Every year it feels like The Block gets bigger and bigger, but this year looks epic! Just how big will it be?

This year, it’s not so much bigger, as better. We talked last year about the fact [The Oslo] was too big, and that we should scale it down. We decided we couldn’t do a big [series] like that again. 

So you’ve gone back to basics, like Elsternwick in 2017?

[Don’t get me wrong], this is still big – it’s five houses with studio garages and it’s a massive build – but this year we’ve added new elements. And of course, the biggest element, by no fault of our own, is the pandemic.

You guys began filming in February this year, just as the COVID-19 crisis was gathering pace…

Yes. And as we do on The Block, if something comes up, we always write it into our show. Unfortunately, if we have a death in the family or something like that, that’s written into the show. And COVID-19 was like that.

We are a building and real estate show, but this year we also became a bit of a documentary about what everyone in Australia went through around that time in March when we locked down for six weeks and then made our way back. 

No one could ever have predicted something like that would happen…

That’s right. And it’s all there, written in, all the way through – the shut-down, the comeback…

That’s not the only massive change to this series, right?

We have got five different eras of home this year – [houses built in the] tens, twenties, thirties, forties and fifties.

Each contestant has got to put a nod to that era in their front part of their house and it’s very difficult for them to work out how they are going to do that and still have a modern 2020-version of a bathroom, or a bedroom, with a nod to the 1910s, 20s or 30s.

They are judged on that, and so that really brings a few of them unstuck in the early days. 

What did you think when you heard about the return to houses concept? 

It is genius – a terrific idea. I am always in favour of timber or weatherboard houses. And I’m always in favour of recycling and repurposing those beautiful homes. I said this the first time we did those moveable houses in Elsternwick – 100 years ago, a bunch of blokes built those houses with love and care and put so much effort in with the tools they had at the time. Now, those homes are back and have been repurposed to stand once more for another 100 years. 

If you demolish a house it goes straight to landfill – we are repurposing these homes, and they are all amazing. We have got the modern version out the back and the original version out the front. They are just incredible. 

The Block 2020

This year’s lineup of Blockheads are set for a challenge. Picture: Channel Nine

The timing of lockdown actually ended up working for The Block, as construction was able to continue while the contestants went home, right?

Yes. It was an amazing piece of timing. A fluke, really. When London went into lockdown with no notice, we were concerned that our contestants would be locked in here indefinitely, away from their families. So we wanted to send them home and get them out of here.

We worked out that if we could get back by early May, we would stay on schedule to put it to air when we wanted to. So we came back in early May and we did two months, and we had a lot of things in place so we could get through it. 

And then Lockdown 2.0 was announced in Melbourne…

That’s right. When we finished, I had to scarper out of Melbourne pretty quickly to avoid lockdown again. I was very lucky to get out with about three or four days to spare. I just left my house in Melbourne – I left it with clothes on the floor, and dishes in the sink. I just packed my bags and got out. 

We are all about family on The Block. contestants and family are first, and the TV show is second – we have always been like that. Many years ago, one of our contestants, Bec Douros, her mother passed away – we shut the show down for a week. Family always comes first – we are just making a TV show, we’re not curing bloody diseases here.

Were you worried the show might not ever finish? How stressful was it?

100 percent – it was so stressful for production, for all of us, wondering [what would happen]. And our camera crew and production crew, because they’re freelance, they wouldn’t be paid. We had no idea what was going to happen – I thought we might be locked down for three months. 

The Block obviously keeps you busy. Do you ever have time to get on the tools in your own life?

I do. A lot. I just don’t work for other people. I just work for myself, in my own projects. Every year when I come home from The Block, I do a reno on my house where I live with my family. Last year I did the backyard, and the year before that I did the kitchen and a couple of bathrooms.

The Block Scott Cam

Mr Cam still manages to work on his own renovations with his family in his down time. Picture: Channel Nine

Do you pick up ideas from The Block?

We do get some inspiration from The Block, for sure. I got some ideas for our bathrooms. And in our kitchen, I think we used the Ceasar Stone from the challenge apartment from The Gatwick. This year, when we were in [lockdown 1.0] for six weeks, I did a few projects while I was home because I had nothing to do. I was meaning to do a little reno in one of my son’s rooms, so I got stuck into that and finished it. 

And we read you built a ‘man cave’?

We had a bit of a gym in like a cave-type thing in the back of our house. We improved it during lockdown – I’ve got two twenty-something [year-old] sons who like to stay fit. They couldn’t go to the gym, so it was important we kept healthy and fit.

Any word yet on what might happen to next year’s production?

It’s too early to tell – I have no idea about next year and what the story is. I don’t even know about this year’s auction. It’s in November, and we still aren’t sure! Hopefully, in three months time things are different, but you never know.

But we will have no open-for-inspections – they have been cancelled already. Which is a real shame for the contestants? And more so for the viewing public and Block fans. We are the only show on television that invites the viewers to the set to meet our cast, in numbers like 20,000 people! So it’s a big thing.

The post The Block’s Scott Cam on why you can’t keep a Blockhead down appeared first on realestate.com.au.

No Comments

Zac and Jordan Stenmark to become landlords for units in Manly and Bondi

Stenmark Twins  Fitness App

Jordan and Zac Stenmark are now both going to be landlords. Picture: Tim Hunter.

The beach loving inter­national modelling duo, the Stenmark twins, are now both landlords.

After strutting their stuff at 2020 New York Fashion Week, the boys came home in late March, to go in to ­isolation at the family’s 1915 rustic timber cottage at Palm Beach. And they’ve been spending time at their parents Mosman home, too.

Zac has sought tenants for his vacated Manly unit.

MORE: Historic cattle farm has new owner

Housing shortage emerging in key Sydney areas

He bought it in 2015 for $965,000 as his first home ­acquisition.

The two bedroom, two bathroom 1980s apartment was initially listed at $800 a week, and then this month at a $750 a week asking rent.

Supplied Editorial 5/23-31 Whistler Street Manly 2 Bed2 Bath1 Car $750 per week

The Manly unit.

Supplied Editorial 5/23-31 Whistler Street Manly 2 Bed2 Bath1 Car $750 per week

The asking price is $750 a week.

Manly’s asking rents have fallen, and sharply, according to the valuation firm Herron Todd White (HTW), evident across suburbs on the northern beaches that have a strong reliance on the tourism. Two other rentals in Zac’s block have been at rents not seen since 2016.

Zac’s tenant hunt follows twin brother Jordan, who sought tenants for his Bondi apartment earlier this year.

He’d initially been seeking $1090 a week in February, and two months later reduced the asking rent to $850 a week.

Jordan paid $1.13 million for the two-bedroom apartment — nearer Bondi Junction than the sand — three years ago.

Stenmark Twins  Fitness App

The Stenmarks returned to Australia to go into isolation. Picture: Tim Hunter.

The split-level unit, with a study and north-facing balcony, sits on the top level in the 2005-built Oasis block.

It had been an $800-a-week rental before Stenmark bought it in 2017. The twins recently launched Stenmark Fit, with their surfer mate and trainer Mitch Barraclough, who runs The Natural Connection. It offers body weight exercises and a recipe guide.

The Stenmarks hit the big time in 2011 when they were working in cafe.

They were signed on by the Vivien agency at just 19 and flown to Miami to shoot 60 pages for L’official Homme the following week.

The whirlwind has never stopped.

The post Zac and Jordan Stenmark to become landlords for units in Manly and Bondi appeared first on realestate.com.au.

No Comments

NSW North Coast cattle farm Dyraaba Station sells for $1.5m

Robyn and Peter Clarke have sold their NSW North Coast cattle farm.

The historic NSW North Coast cattle farm, Dyraaba Station has been sold for $1.5 million. The homestead, built of hand-sawn hardwoods, has been sold by Robyn and Peter Clarke, the parents of fashion ­designer Sarah-Jane Clarke, the Sass who co-founded the fashion label Sass & Bide.

The Clarkes listed the Casino district property just over two years ago with a $1.8 million asking price.

MORE: 100-year-old’s big sale eight decades in making

Sydney’s most popular streets

It originally had a $1.8 million guide.

It is home to 50 cows.

The beef industry veterans will miss the locals, as well as the lifestyle, serenity and the cattle calving.

“We fell in love with Dyraaba Station the moment we first saw it as it truly is a colonial homestead with out buildings,” Robyn said on its listing, adding they appreciated the quality of the axemanship.

The Clarke’s, who have been in the beef industry for two decades consider themselves hobby farmers. Their interest has been restoring the historic buildings while running a few head of cattle.

The couple listed the property two years ago.

The Kyogle farm has been home to 50 Angus and wagyu cows and calves that rest under the historic fig trees after drinking from Dyraaba Creek. The farm dates back to the 1840s when it was one of the great squatter runs, with its then shield-brand Herefords being the largest herd in the southern hemisphere.

The original homestead and out buildings, that date back to the days of the Bundook and Barnes families, are lasting insights into the pioneering era, Ray White Rural selling Peter Douglas said.

It is on 60ha.

Gorgeous interiors.

Henry Barnes, its longtime stud-master, was born at Low Braithwaite, Cumberland, England, one of the 13 children of cattle farmer, Robert Barnes. Excelling in bookkeeping, mathematics and the principles of land measurement, with a reference as a ‘practical English farmer’ signed by several ministers and yeoman farmers, Barnes migrated to NSW in 1840.

“A true piece of Australian history,” Douglas advised this week on its sale to a couple from Brisbane.

No longer on the original 80,000ha, after its soldier settlement division following World War I, Dyraaba is now 60ha, with 14 paddocks.

The post NSW North Coast cattle farm Dyraaba Station sells for $1.5m appeared first on realestate.com.au.

No Comments

Palm Beach’s cutest cottage sold in 24 hours

A charming 1960s cottage located one block back from the beach in the city’s hottest suburb has been snapped up within 24 hours of hitting the market.

The three-bedroom house at 15 Twelfth Ave, Palm Beach sold for $890,000 in a super speedy deal done earlier this month.

15 Twelfth Ave, Palm Beach was snapped up within 24 hours.

The property was marketed by Harcourts Coastal as “one of Palm Beach’s cutest 1960s beach homes located in a beautiful avenue with the beach just one block away!”

The renovated cottage features yellow and white striped awnings, floor-to-ceiling glass windows in the lounge area, a new kitchen and two new bathrooms.

MORE: The Gold Coast’s newest million-dollar suburb

Is this mega mansion built in the wrong suburb?

Broadbeach Waters new build with star appeal

Natural light and lush gardens are all part of the appeal.

Timber floors and fresh, white walls add to the coastal vibe.

Property records show the house last changed hands in 2013 for $445,000 and has since undergone a significant makeover.

As well as being within walking distance to the beach, the house also offers easy access to the popular Palm Beach dining strip.

“Start packing and don’t forget the surfboards as this is the ultimate beach house that Palm Beach has to offer,” reads the listing.

The split-level home is one block from the beach.

Freshly painted inside and out, there’s an outside terrace surrounded by tropical gardens and an outdoor shower to rinse off the sand.

The renovated kitchen is ready to go.

The post Palm Beach’s cutest cottage sold in 24 hours appeared first on realestate.com.au.

No Comments

West Footscray selling campaign starring Skid the dog a success

Dog helping owners sell home

It’s easy to see how Skid the labradoodle — pictured with owners Julian Ramsey, Adrienne Baldwin, Winnie and Rosie 11 — caught buyers’ eyes. Picture: David Caird

Puppy power has helped sell a West Footscray house.

Adrienne Baldwin and Julian Ramsey earned $1.162m for their 46 Pitt Street digs after unleashing their striking labradoodle, Skid, as the star of their selling campaign.

The sale price came in well above the couple’s $1-$1.1m asking price — no mean feat in Melbourne’s coronavirus-hit market.

Skid caught plenty of buyers’ eyes by featuring on the ‘for sale’ board out the front of the three-bedroom house, and in the online listing and promotional video.

Several even asked if the prized pooch came with the home, Bond Estate Agents director Lee Marks said.

RELATED: Labradoodle stars in West Footscray selling campaign

Footscray cottage blends industrial style with Victorian charm

‘No filter’ video tours keep Melbourne property market moving

Dog helping owners sell home

The good boy featured on the for sale sign, as well as in the property’s online listing and promotional video. Picture: David Caird

The photo of Skid used to market the property.

“I’m considering giving Skid a position in the company,” Mr Marks joked.

“It was a pretty good marketing spin. Will I do it again? Definitely.”

A young family who had missed out on homes in Coburg and Northcote collared the property, and commemorated their purchase by having their photo taken with Skid in front of the sold sign.

“The open (living, dining and kitchen) space with a fireplace was a huge ticket for them, plus the north-facing backyard,” Mr Marks said.

“But most importantly, majority of the buyers who came through were trying to get into that Footscray West Primary School zoning — it’s almost like the Balwyn North High School zoning, everyone’s trying to get in there.”

The owners renovated the house, notably restoring a central fireplace.

The kitchen was modernised during the reno.

Mr Marks said more than 45 groups toured the house in a hectic few days, before physical property inspections were banned during Melbourne’s stage four lockdown.

He doubted many sales would be completed under the harsh restrictions, but said any would-be vendors should use the period to ensure they were ready to “get on the market the moment the lockdown is lifted”.

Ms Baldwin said Skid had become a well-known figure in their neighbourhood during their five years living at 46 Pitt Street.

Skid loved the big backyard.

Dog helping owners sell home

Skid is friendly, well trained and “loves humans”. Picture: David Caird

“We can’t get down the street without people asking, ‘what sort of dog is that?’” Ms Baldwin said.

“My husband even made up the breed Hungarian muff hound (to tell people) as a joke.

“He’s very friendly, loves humans, and is so well trained.”

She and Mr Ramsey, who works in construction, thoroughly renovated the house, which they shared with daughters Winnie, 13, and Rosie, 11.

This involved restoring original 1920s features — including a brick fireplace Skid had loved sitting in front of — and adding modern comforts.

MORE: Melbourne construction industry stage four guidelines updated

Regional Victoria property markets hit by ban on Melbourne buyers

The hidden cost of energy for buyers and tenants

samantha.landy@news.com.au

The post West Footscray selling campaign starring Skid the dog a success appeared first on realestate.com.au.

No Comments

Housing shortage looming in parts of Sydney as pandemic drives down construction

Falling building activity during COVID-19 is poised to create a housing shortage that would make it harder for aspiring homebuyers to get a foot on the property ladder once the pandemic blows over.

Development approvals for new housing this year sank to their lowest level in close to a decade, with building levels nearly one fifth long-term trend in some areas, analysis of ABS data showed.

Building activity was especially low on the northern beaches, eastern suburbs, north shore and inner west, with most of Sydney’s new projects concentrated in Blacktown, Parramatta and southwest Sydney.

MORE: Eight-year-old boy wins auction for five studios

Sydney’s most popular streets revealed

Property experts said the tight supply of housing would benefit homeowners as it would create a safety net for falling values and limit some of the damage from the COVID crisis.

But it would throw a curve ball the way of first homebuyers, who would be competing for a dwindling level of stock in some areas, making it harder to get discounts.

Consultancy group AreaMap’s director and former head of research at Charter Hall Group Chris Freeman said a similar situation laid the groundwork for a 2014 boom in prices.

Underbuilding in the years after the global financial crisis in 2009, coupled with a sudden drop in interest rates, created a supply and demand imbalance that sent prices skyrocketing, he said.

With rates expected to stay at record lows for years to come, the next housing shortage could have a pronounced effect on the market once confidence returns, Mr Freeman added.

“One key factor for Sydney now is approvals relative to the population base, which at 0.62 approvals per 100 people in population is the lowest in recent history,” he said.

Source: AreaMap.

“In a normal market, Australia as a whole adds about one dwelling approval per 100 people on average each year.”

A critical indicator of the looming undersupply was that Sydney was building fewer homes relative to the population than in 2013, just before the market went into a period of strong growth, he said.

“It’s impossible to know what will happen to the market because of COVID but when it passes, if they find a vaccine soon, the (lack of supply) could cause a quick turnaround in prices in some areas.”

The northern beaches had a particularly low supply of housing, Mr Freeman added.

“Across the northern beaches during FY-20 only 523 approvals were recorded for a population of almost 275,000 people … property in the area is so tightly held.”

The northern beaches has the smallest pipeline of new projects.

My Housing Market economist Andrew Wilson said apartments in high-density areas would be the weakest markets in Sydney because there was an abundance of available properties.

With rents dropping rapidly and vacancies rising, many of the investor owners of units may soon be forced to sell, which would further increase supply, Mr Wilson said.

The supply and demand dynamic was different for houses in low density suburbs, considering there were fewer available properties and they tended to attract the most demand from families, he added.

The post Housing shortage looming in parts of Sydney as pandemic drives down construction appeared first on realestate.com.au.

No Comments

New suburb steps up to the million-dollar club

The Gold Coast’s million-dollar club has a new member with the laid-back southern suburb of Currumbin stepping up to the premium property podium.

Latest data from realestate.com.au shows key sales in the past 12 months propelled house prices in Currumbin to a median of $1.054259 million.

Over the past year, house prices in Currumbin rose by 25.4 per cent and a whopping 40.6 per cent in three years.

Southern Gold Coast real estate specialist Troy Dowker said a limited supply of low density housing made Currumbin real estate a niche commodity.

“With the rapid development of neighbouring suburbs, Currumbin’s low rise living environment and village ambience is appealing,” he said. “You’ve also got surf, trees, beach and the estuary, so there’s a lot of natural beauty in the area.”

41 Teemangum St, Currumbin goes to auction on August 22.

The Kollosche agent set a suburb record in March with the $6.5m sale of 14 Darwalla Ave, Currumbin.

There were 17 houses sold for $1 million-plus in the suburb since July 2019.

Currumbin is one of 10 Gold Coast suburbs to break the $1 million threshold in
fiscal 2020.

Surfers Paradise, which includes the elite enclaves of Paradise Waters, Isle of Capri and Chevron Island, retains the million-dollar crown, recording a median price of $1.73125m across 80 sales.

113 Commodore Drive, Paradise Waters sold for $5.5 million in June.

Mermaid Beach, renowned for its so-called Millionaire’s Row, recorded the Gold Coast’s second highest median house price of $1.6m.

Tallebudgera Valley was the only hinterland suburb to make the cut, with a median house sale price of $1.2135m, ahead of Clear Island Waters ($1.238m) and Broadbeach Waters ($1.1825m).

Up the northern end of town, Runaway Bay and Paradise Point retained million-membership each with a median sale price of $1.05m.

23 Sunshine Boulevard, Broadbeach Waters sold for $2.2 million in April.

Bundall held its position in the top 10 with a median sale price of $1.035m.

Honorary membership goes to Main Beach where the median sale price was $1.675m, based on just 10 sales, while the southern hotspot of Bilinga recorded a median of $1.25 million based on 11 sales only.

The latest marketing trends from realestate.com.au show Gold Coast real estate has held its own over the past three months, with house prices rising by 1.6 per cent and units by 2.4 per cent.

Nerida Conisbee, realestate.com.au’s chief economist, said the premium property market has been one of the most stable property market during the COVID-19 pandemic.

“The property market is currently being supported by high levels of stimulus, a stable banking system, mortgage payment freezes and relative confidence among buyers,” she said.

“As a result, pricing has remained stable, despite being in a recession.”

The post New suburb steps up to the million-dollar club appeared first on realestate.com.au.