Gold Coast waterfront real estate ranked with world’s best

How much would you pay for a slice of the wet stuff? Strong demand from cashed-up buyers has underpinned huge price growth for Glitter Strip property.

How much would you pay for a slice of the wet stuff?

The Gold Coast was ranked among the world’s top destinations for prime waterfront real estate.

The Glitter Strip city posted the third highest premium in sale price for this coveted class of luxury property, according to Knight Frank’s International Waterfront Index 2022.

Our local line-up of world-class surf breaks, clear canals and riverfront aspect came in just behind Sydney and Auckland in the global ranking, ahead of prestigious cities including Monaco and Cap d’Antibes on the south coast of France.

Cashed-up buyers splashed a premium of 71 per cent for a house on the water on the Gold Coast, compared to a dry block.

Knight Frank head of residential research Michelle Ciesielski Pic:John Feder

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Knight Frank head of residential research Michelle Ciesielski said resort-style homes were continuing to attract demand from interstate and international buyers, with many sales negotiated off market.

“Increasingly, more buyers of waterfront homes on the Gold Coast are coming from the relatively more expensive cities of Sydney and Melbourne, so record prices are being achieved, most notable since the start of the pandemic,” Ms Ciesielski said.

“Suburb records are still being achieved at the very top end of the market, but in many instances the sales are being carried out off market, given the tight number of listings being advertised.”

The Northcliffe penthouse goes to auction in September

Beachfront sales agent of 15 years Tolemy Stevens, of Harcourts Coastal Prestige, said the limited supply of homes right on the sand meant they would always be in high demand.

“External market factors are having an effect on the real estate market around the country, however at this stage the beachfront of the Gold Coast is still shining brightly,” Mr Stevens said.

“I am still finding demand is significantly outstripping supply while we have cashed-up southerners looking to enjoy the Gold Coast lifestyle, whether they plan to move permanently or spend more time here at a luxury lock-up holiday home.

“When you mix that demand in with an extremely low inventory, we will continue to see the beachfront thrive and possibly even grow during these challenging times,” he said.

Mr Stevens said his hottest new listing was the luxurious Northcliffe Residences penthouse in Surfers Paradise, which will go under the hammer on September 7.

Harcourts Coastal agent Tolemy Stevens

A cash offer of $9m had been received within the lustworthy property’s first week on market, with interest fielded from Sydney and Melbourne as well as Singapore and Taiwan, he said.

“Hearing the sound of the waves crash onto the shore at night is quite possibly one of the most underrated experiences in the world, and there’s something really special about being able to walk out of your property to put your feet in the sand and feel like you are on holiday, even if you live here permanently,” Mr Stevens said.

“The beach, the sun, the sand, the surf and the ultimate lifestyle that comes with it is what everyone strives for.”

Meanwhile, buyers who prioritise peace and privacy are handing over big bucks to call the extravagant estates lining Main River their own.

The Main River mansion is back on the market with a $35m price tag

It was the pandemic’s highest riverfront sale

Alston, a French-style manor at 5 McMillan Ct, Southport, was 2021’s highest riverfront sale, snapped up for $23.75m by a mystery buyer after just 11 days on the market with Carlie Mills and Amir Mian, of Amir Prestige.

The opulent six-bedroom property is back on the market, this time with an even more jaw-dropping price tag of $35m-plus.

It’s listed via an expressions of interest campaign with Rebecca Moffrey, of Ray White Burleigh Group.

And the canals are hot property too, with a sprawling Broadbeach Waters mansion just sold for $7.35m.

The glamorous five-bedroom home at 17 Grant Pl has a huge 66m waterfrontage and private sandy beach with resort-worthy features including a two-level infinity pool.

Marketing agent Jackson Paradise, of Ray White Prestige Gold Coast, said it sold to interstate buyers who had prevoiusly owned another local holiday home.

“It’s actually the highest price paid ever for a canal front property in Broadbeach Waters,” Mr Paradise said.

“That top end of the market is still proving strong and there’s a lot of buyers out there.”

PropTrack data ranks some of Gold Coast’s most prestigious waterfront postcodes among Qld suburbs where sellers have made bank since interest rates began to rise.

Luxury living on the canal at Broadbeach Waters

17 Grant Pl, Broadbeach Waters sold this month for $7.35m

Homeowners who sold up in Broadbeach Waters, Bundall, Clear Island Waters and Paradise Point between March and July this year profited between $636,000 and $892,500, the figures show.

PropTrack economist Paul Ryan said homeowners in those areas had sold while prices were still at their peak.

“It shows in a really tangible way just how much capital growth we’ve seen in these emerging lifestyle destinations. There’s been some really strong profits in a lot of these suburbs, but also these recent sellers have held their properties a little longer than we’d traditionally expect to see,” Mr Ryan said.

Mr Stevens said the pandemic had been the catalyst for many people to re-discover the Gold Coast, as Qld was one of the few destinations to remain open through periods of lockdown.

“The Gold Coast has matured significantly. We’re not just that boom-and-bust small town that a lot of people thought we were 10 or 15 years ago. We’ve got a lot of substance, from world class restaurants, entertainment and shopping, to a strong local economy and infrastructure, and people are finally realising that,” he said.

Originally published as Gold Coast waterfront real estate ranked with world’s best