Market Insights The residential real estate markets of Mermaid Beach, Broadbeach Waters and Surfers Paradise were among the city’s strongest performers over the year to June. A string of mega sales saw Mermaid Beach claim the state’s most expensive suburb title with a median house price of $2,800,000 following 12-month growth of 44.5%. Broadbeach Waters house prices rose by 37.7% over the past 12 months, with the median house price reaching $1,913,500. In Surfers Paradise – which includes the exclusive enclaves of Paradise Waters, Cronin Island, Chevron Island and Isle of Capri – median house prices hit $2,700,000, notching up a phenomenal 51.9% growth in 12 months. There were a number of factors contributing to exceptional sales activity over the year to June. The lust for lifestyle and remote working off the back of Covid are well documented, while official data offers further insight into the key drivers impacting price growth and sales results. Low stock levels have been a consistent theme, with fewer sales a direct reflection of the limited supply of properties coming to market. Broadbeach Waters recorded 257 sales in the 12 months to June (down from 277 in the 2020-2021 financial year), while 94 Mermaid Beach houses changed hands (slightly less than 101 sales the previous year). Healthy competition among local, interstate and expat buyers for those properties that did come to market further bolstered sales results, with increased total sales volumes recorded across the board in key Gold Coast suburbs. Exceptional results by the Ryan Ward Team across 2021-2022 saw Ryan named in the prestigious REB Top 50 Queensland Agents. Ryan Ward and Michael Kollosche sold 297-299 Monaco Street, Broadbeach Waters for $12,400,000 in December 2021. The Main River architectural masterpiece attracted 221 enquiries and was marketed for sale by private treaty. Ryan Ward and Duncan Longmore secured an $8,888,000 buyer for an iconic Cronin Island retreat at 17 Southern Cross Drive, Surfers Paradise. A comprehensive marketing campaign drew 92 enquiries before the property was sold in July 2021.
Key sales by Ryan Ward and Kollosche for the 2021- 2022 financial year: • 14 Admiralty Drive, Paradise Waters sold off-market for $8,075,000 • 111 Commodore Drive, Paradise Waters sold for $7,500,000 by private treaty • 104 Admiralty Drive, Paradise Waters sold for $6,500,000 by private treaty • 3 Southern Cross Drive, Surfers Paradise sold at auction for $5,025,000 • 13 Neptune Court, Paradise Waters sold at auction for $4,910,000
Paradise Waters
$13,600,000 Highest Sale Price
$5,398,767 Average Sale Price
$2,300,000 Lowest Sale Price
Key Property Sales
• 29 Savoy Drive, Broadbeach Waters sold for $2,700,000 by private treaty • 85 Commodore Drive, Paradise Waters sold off-market for an undisclosed price
Land Size (m2)
Address
Sales Price Sales Date Bed
Bath
Car
62 Admiralty Drive
$10,500,000
03/11/2021
5
6
12
1,094
111 Commodore Drive
$7,500,000
19/10/2021
4
7
2
600
Rising interest rates and inflation contributed to a somewhat softer market in the June quarter of 2022. These factors are expected to have an ongoing impact on both buyer and seller sentiment in the months to come. Although sellers may need to adjust their expectations to meet the changing market, the prestige sector is likely to see slower turnovers rather than a decrease in values. Demand remains strong for quality properties that are presented and priced correctly.
27 Midshipman Court
$7,400,000
07/05/2022
5
5
6
903
104 Admiralty Drive
$6,500,000
14/06/2021
6
8
4
762
13 Neptune Court
$4,910,000
08/04/2022
5
6
7
680
4 Seafarer Court
$3,910,000
16/10/2021
5
5
3
675
Mermaid Beach
$21,750,000 Highest Sale Price
$10,754,000 Average Sale Price
$3,650,000 Lowest Sale Price
Key Beachside Property Sales
Ryan Ward LICENSED REAL ESTATE AGENT 0405 309 359
Land Size (m2)
Address
Sales Price Sales Date Bed
Bath
Car
213 Hedges Avenue
$21,750,000
28/11/2021
5
6
8
796
159 Hedges Avenue
$21,000,000
06/05/2022
6
6
6
564
133 Hedges Avenue
$14,500,000
31/12/2021
5
6
4
405
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