The real cost of living on the Gold Coast’s top 10 best streets

New data has revealed the shocking premium buyers are splashing out to live at the top end of town. SEARCH BY STREET

Hedges Ave in Mermaid Beach is the Gold Coast’s most expensive street

A glaring $10 million gulf separates the best and worst streets to call home on the Gold Coast.

An analysis by Ray White has revealed the top 10 most expensive and cheapest streets across every region in Queensland.

Oceanfront Hedges Ave at Mermaid Beach lived up to its nickname, Multimillionaire’s Row, with the highest buy-in of $10.5m. Hedges Ave’ extension of Albatross Ave also featured among top streets with a median home price of $6.675m.

The other richest addresses were in Surfers Paradise, Hope Island and Carrara.

41-45 Hedges Ave, Mermaid Beach is for sale with a $35m price tag

By contrast, buyers on a budget could look further from the sand to the northern Gold Coast suburbs of Helensvale, Coomera and Upper Coomera, where houses in the cheapest streets were priced well under the city’s median of $886,000.

Cannington Pl, Helensvale had the lowest buy-in of $345,000 — offering savvy investors an opportunity to make swift gains.

Ray White analyst William Clark said buyers paid a premium for a front seat to southeast Queensland’s famed surf beaches, while sprawling riverfront mansions also commanded top dollar.

“Gold Coast has an incredibly developed luxury market and plenty of features that would cater to wealthy homeowners looking for an easy way to park $5m or more,” Mr Clark said. “There’s probably more waterfront there than any other city of comparable size, large lot sizes on those waterfront streets, and all with a good amount of privacy, away from busy streets and town centres.”

125 Commodore Dr, Surfers Paradise sold for $10.8m in 2023

While the jaw-dropping cost of a home on Hedges is almost four times the wider suburb median of $2.855m, properties along the ritzy strip often sell for much more.

A sprawling home on a palm-fringed triple block at 41-45 Hedges Ave is currently listed with a $35m price tag after passing in at auction in December for $30m.

Marketing agent Amir Mian said the property, owned by lotteries millionaire David Railton Kennedy, was one of the largest oceanfront holdings along the coveted stretch and was on the market for the first time in 20 years.

“When it comes to beachfront, this is the best location — 30m actual beach frontage on a 1,214 sqm north-facing block.

“You can’t ask for any better,” Mr Mian said.

Real estate principal Amir Mian says you can’t get a better location in Mermaid Beach. Pic Adam Head

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Mr Mian said just seven beachfront properties changed hands along Hedges and Albatross Ave combined in 2023.

“The beachfront has been so tightly held for such a long period of time, and Hedges and Albatross is going through a big transformation with property owners pouring huge money into new builds,” Mr Mian said.

“If these newer homes do hit the market they will be right up there in price, and the demand is always strong because Mermaid Beach is perfectly centrally positioned on the Gold Coast, close to the trendy dining precinct of Nobby Beach.

“It is one of the most talked-about areas where the properties are very much in high demand, but also in Mermaid Beach there is a strong sense of community and that relaxed coastal atmosphere that is very appealing to a lot of people,” he said.

An apartment complex in one of the Gold Coast's most affordable streets in Helensvale

At the other end of the market, the owner of a Cannington Pl duplex profited $202,5000, or a whopping 56.56 per cent, after flipping the termite-damaged two-bedroom home, pulling off a full renovation including replacing the roof in just three months.

The vendor purchased the property for $357,000 in September and resold for $560,000 in December.

LJ Hooker Helensvale agent Mark Worthington said townhouses and duplexes within 1980s-built complexes were often available, offering an affordable entry to the market for first-home buyers and investors.

“These were built for a budget and are the basic older-style properties. Some have been renovated and some haven’t,” Mr Worthington said.

“I think they are a good opportunity for first-home buyers. The median price is fairly low, but they have continued to grow in value.

“It is almost impossible to find a property for under $500,000,” he said.

Bargain hunters can look to select streets in Coomera and Upper Coomera

Mr Clark said he expected the price gap between high and low-end markets to grow as the city expanded.

“I do think the disparity will continue to grow. New suburbs further out may be made, and streets on those suburbs will start at a lower price, while the top end of town will likely see their prices continue to increase as demand from continued population growth increases,” he said.

“The positive is that the houses on the current affordable list will also benefit from this growth.”

Ray White’s research team analysed house sales in each street with more than six transactions over the past three years.

Originally published as The real cost of living on the Gold Coast’s top 10 best streets