Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Riverfront properties bring in the big bucks

By Staff Reporter
21 August 2009 | 1 minute read

River front properties on the Gold Coast have become Queensland’s most sought after real estate, Colliers International Gold Coast Beachfront Riverfront Housing Property Watch report has found.

Advertisement
Advertisement

According to the report, 10 years ago only three riverfront suburbs recorded average values above $1 million – Paradise Waters, Southport and Sorrento.

Today, all riverfront suburbs are selling for more than $1 million, with an average price tag of $1.3 million.

Colliers research manager and report author Lynda Campbell said Paradise Waters had recorded the largest increase in riverfront values, with a capital growth of 366 per cent over the last decade.

“The next most expensive riverfront suburb, Sorrento, has had two transactions, including the $8 million sale of the home known as ‘Bartinon’ – the highest price paid for a riverfront home this year,” Ms Campbell said.

According to Ms Campbell, Mermaid Beach has also recorded exceptional growth over the past decade, however, prices have dipped in the last few months on the back of the fall-out of the global financial crisis.

“Increased activity is expected over the coming year as confidence returns and buyers take up the opportunity to secure property in this strip.  As it is one of the lowest density beachfront areas on the Gold Coast, property there is extremely rare, which continues to drive demand and values,” she said.

Riverfront properties bring in the big bucks
default
lawyersweekly logo

Tags:

Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Queenton
69.76%
Flying Fish Point
69.61%
Point Piper
69.17%
Glenelg South
69.02%
Pretty Beach
69.01%
Bar Beach
68.9%
Northampton
68.7%
Kembla Grange
66.91%
Gnarabup
66.67%
Boomerang Beach
66.67%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.