A four bedroom house on the Gold Coast’s millionaires’ row has just sold, making it the most expensive sale for a standard 405-square metre block since early 2009.
An investor with rural holdings has snapped up a home on the Gold Coast’s millionaires’ row for $6.1 million, making it the highest price paid for a standard 405-square metre block since early 2009.
The three bedroom, three bathroom house at 239 Hedges Avenue last sold for $5 million in January 2013. The price uplift is another sign of the rapidly recovering Gold Coast housing market which some forecasters are predicting will see 11 per cent growth this year.
Ray White Surfers Paradise Andrew Bell negotiated the sale but could not comment.
Hedges Avenue has seen only a handful of sales in the last 12 months, with former ANZ chief executive John McFarlane selling his four bedroom, four bathroom villa at 161 Hedges Avenue for $4 million and property developer John Jamieson selling his 93 Hedges Avenue house for $5.6 million.
The record for a completed home on Hedges Avenue still stands at $19 million after Harvey Norman’s Steve Cavalier snapped up a five bedroom, six bathroom home at No. 213. That property was almost twice the land size of the latest sale.
Standard 405-square metre sale blocks along Hedges Avenue, albeit with larger homes, have sold for as much as $5.75 million in the past.
The market for mansions is still waiting on the outcome of the nearby 45-51 Albatross Avenue property which former Billabong director Scott Perrin and wife Rachel are looking to sell for well over $20 million. The land component alone is worth more than $11 million.