Mermaid Waters outshines beachfront neighbour

Written on the 30 September 2015 by Gold Coast PR company Consulting Hall

The family friendly canal-front residential suburb of Mermaid Waters has outstripped its  more glitzy neighbour Mermaid Beach in property price growth during the past 12 months.

Data compiled from property researcher Core Logic's www.propertyvalues.com.au show that the median sales price of Mermaid Waters properties jumped 11.4 per cent in the past 12 months to $720,000 while Mermaid Beach has enjoyed a 10.3 per cent rise $960,000.

The result comes as no surprise to Luke Henderson, a leading real estate agent in the area and a director of John Henderson Professionals Mermaid Beach.

Mr Henderson said he believed the prices of homes in Mermaid Waters had jumped $100,000 since the start of 2015.

"During 2014 Mermaid Waters enjoyed reasonable price growth but this year the market has really taken off,'' said Mr Henderson.

"Our office has seen the demand for properties Mermaid Waters surge throughout 2015."

Agent Andre Sharples, who has recorded a string of recent sales in the area, said one particular sale highlighted how much the market had changed in the past 12 months.

"We recently sold a home on a dry block at 16 Bowline Road, Mermaid Waters on the market,'' said Mr Sharples.

"In that case, the vendors first put the property on the market some time ago and they were looking to accept offers around $583,000 but had struggled to get any interest.

"However, after a change in agents and change in marketing tactics, the property changed hands for $650,000,"

In other sales for Mr Sharples and the team at John Henderson Professionals Mermaid Beach include:

• 41 Markeri Street a five bedroom waterfront home that was sold for $840,000 after being placed on the market with an asking price of "offers above $790,000.
• 16 Firmin Court a four bedroom home on a dry block that sold $750,000 compared with its last sale in the high $500,000s in March 2011.
• 1 Cruiser Court, - a three bedroom home that eventually sold for $649,000 after a buyer failed to complete a contract at $629,000.
• 89 Alec Avenue a four bedroom home on a dry block that sold for $735,000 under the hammer.