Gold Coast house price records smashed in 10 suburbs

PROPERTY sales records are being smashed across the Gold Coast as the city’s real estate boom hits new heights. 10 sales records have been broken. SEE THE RECORD FOR YOUR SUBURB

The recording breaking 8-10 Marseille Court, Sorrento.

PROPERTY sales records are being smashed across the Gold Coast as the city’s real estate boom hits new heights.

Bundall, Ashmore, Reedy Creek, Pacific Pines and Pimpama are among 10 suburbs where records have been smashed this year.

In the latest sale, the record book for Bundall’s waterfront locale Sorrento has been rewritten with the $9 million sale of a home in the elite riverfront enclave of Riviera.

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The sale of the 8 Marseille Court property eclipses the $8 million achieved in 2009 for landmark mansion Bartinon, which is in the same street.

8-10 Marseille Court, Sorrento.

Robyn Smith bought her home for $6.2 million in 2007 and at one point last year it was marketed at close to $14 million.

Last July, it was re-marketed at $9.95 million.

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8-10 Marseille Court, Sorrento.

In Ashmore, a five-bedroom house sold for $3.75 million — $150,000 more than the previous suburb record — while a house in Reedy Creek toppled the suburb record by $105,000 when it sold for $1.765 million.

REIQ Gold Coast Zone chairman Andrew Henderson said the record spends were not surprising given the Coast’s strong market and he was confident property values would continue to soar.

“Where there’s good work and good infrastructure, that market will continue to be strong,” Mr Henderson said.

8 Abbey Ridge Rd, Reedy Creek.

“Each sale builds on the next one and that’s where I think the records help to be broken.

“The increased number of auctions has also helped push those records to where they are.

“Having that type of open negotiation ... where everyone can see their competition helps push real estate to new limits.”

112 Petsch Creek Rd, Tallebudgera Valley also made a record

Michael Kollosche, of Kollosche Prestige Agents, said the buyer of the $9 million Sorrento home was a Melbourne party moving to the Gold Coast.

“This sale continues a great start to 2018 for the luxury end of the Gold Coast market, which continues to have momentum.

“There are buyers aplenty for big-ticket homes but the top shelf is starting to look rather lightly stocked.”

11 Kootingal St, Ashmore.

A beachfront Mermaid Beach house sold for $11.6 million this year — the top residential price in the city in 2018.

The Marseille Court home sold by Ms Smith spans 1300sq m and has five bedrooms, seven bathrooms, wine cellar, media and music rooms, and a four-car garage.

It also comes with a 17-metre lap pool, gymnasium, tennis court and self-contained guest quarters.

7 Bottletree Lane, Lower Beechmont.

The home sits on a 2703sq m site with a 70-metre river frontage. The land had a 2017 rateable value of $2.9 million.

The Gold Coast’s record stands at $27 million, which was set by a Mermaid Beach mansion in 2008.

173 Stewart Rd, Clagiraba.