The beachside suburb where house prices rose 40 per cent in a year

News Corp Australia Network

BUYING in Mermaid Beach on the Gold Coast was a no-brainer for Dan and Simone Steele.

The couple, who has three-year-old son Archer, bought their three-level townhouse in 2017 and have soaked up the village lifestyle the suburb offered ever since.

“We loved how close it was to the beach,” Mr Steele said.

“I walk down and go fishing every couple of days and we can just go down to the beach for a swim and then walk back home.

“You can walk to Pacific Fair (shopping centre) and walk to the cafes.

“You don’t need to leave the suburb, you can just hover around here and enjoy it.”

Mr Steele said his townhouse was affordable and offered good value when they purchased six years ago.

“We bought it with the intention of renovating because it was in original condition,” he said.

“We’ve added a rainforest garden, an outdoor shower, a new kitchen and a study because my wife works from home.”

The pair has put the property at 1/33 Cronulla Ave on the market but plans to buy back into the beachside suburb.

That’s despite the suburb being the most expensive beachside locale in Queensland, with a median house price of $3.15m, which is nearly 40 per cent dearer than it was 12 months ago.

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“We’re just looking for a bigger place really as we want another child,” Mr Steele said.

“We’re not sure exactly where we want to buy but somewhere else in the area.”

Matt Maguire and Larissa Martos of Professionals John Henderson Real Estate are taking the property to auction on February 18.

Mr Maguire said Mermaid Beach offered a lifestyle rarely found on the Gold Coast.

“A big positive is you’ve got a tight-knit community in Mermaid Beach and a very neighbourhood feel which is rare compared to other locations on the Gold Coast,” Mr Maguire said.

“The height limits are also a good thing as the three-storey restrictions leaves us as one of the only beachside neighbourhoods on the Coast as opposed to the high-rise areas like Broadbeach, Surfers Paradise and Palm Beach.

“That’s why you will find it’s a different type of purchaser who will buy in Broadbeach and those other suburbs compared to Mermaid Beach.”

Mr Maguire said the Cronulla Ave townhouse offered great value for a potential buyer.

“There’s a lot of space in this property that a unit might not provide and it will benefit those who can’t afford a house or a large duplex in the suburb.”