MERMAID Waters properties are being snapped up by buyers just 48 hours after hitting the market, the latest sales figures show.
According to realestate.com.au Mermaid Waters has become the Coast’s fast-selling suburb.
The number of listings from April, 2015 to March, 2016 was 299, with an average of 35 days on market.
The shortest was a two-bedroom villa on Karbunya St that was snapped up in two days.
Jessica Smaniotto and her husband Alessandro bought their three-bedroom home in Mermaid Waters last month before it was offered to the market. The pair paid $678,000.
“When we found this property we knew we had to be quick and put our best foot forward by being the first offer in and make it a handsome one,” Mrs Smaniotto said.
“We were proactively house hunting in the area for six months and found that houses we were interested in were getting sold before we even had a chance to inspect.”
Mrs Smaniotto, who upgraded from a unit, said she wanted to live in Mermaid Waters because it was near schools, shops and public transport.
“We had to made a good offer at the first inspection and luckily it was accepted on the spot by the vendor,” she said.
“My husband was going away the next day, so we were getting frustrated that houses were being snapped up so fast.”
Ray White Mermaid Beach sales agent Scott Keatley said he sold two houses on Markeri St within a week in April.
“As soon as we get a product, it’s not long until we get a sale and it is never on the market for more than two weeks,” Mr Keatley said.
“There are plenty of buyers and low interest rates are fuelling affordability.”
London Estate Agents sales agent Brad Payne said he had a list of people waiting to buy in the area.
“It is first in, best dressed but we have people still waiting around even when a property has gone under contract, hoping that it fails,” Mr Payne said.
“Most of the houses in Mermaid Beach are put on the market and dealt with in the same day because buyers know the longer they look, the more these prices go up and they do tend to creep up by $5000 a year.”
REIQ Gold Coast zone chairman John Newlands said the limited days on market was a reflection of high demand.
“It is case of supply and demand and the number of days these houses are on market are limited because buyers in the area are proactive on what comes up and are well-informed by agents,” Mr Newlands said.
“Prices are slowly creeping up and the big beachside sales in Mermaid Beach are flowing back to the western suburb of Mermaid Waters.”
Mr Newlands said the suburb was appealing to families looking to live close to the beach.
“The main reason it is so in demand is because it is away from the tourist-flooded area of Surfers Paradise and offers schools and shopping,” Mr Newlands said.
“These are not new homes either and they are becoming popular to renovate.”
Originally Published By: http://www.goldcoastbulletin.com.au/