{"id":38031,"date":"2022-04-13T15:22:09","date_gmt":"2022-04-13T03:22:09","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38031"},"modified":"2022-04-13T15:22:09","modified_gmt":"2022-04-13T03:22:09","slug":"queenslands-millionaire-rows-the-states-top-suburbs","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/queenslands-millionaire-rows-the-states-top-suburbs\/","title":{"rendered":"Queensland’s millionaire rows: The state’s top suburbs"},"content":{"rendered":"

PHOTO: The Gold Coast, Queensland<\/strong><\/p>\n

They\u2019ve long housed the lion\u2019s share of lavish Queensland homes but now, after 24 months of exponential growth, medians across a handful of Queensland<\/a>\u2019s priciest suburbs are outpacing even San Francisco.<\/p>\n

Sunshine Beach<\/a> stole headlines late last year when house price medians soared to $50 shy of $3 million, but just as all eyes turned north to the Sunshine Coast suburb, a smattering of other \u201cmillionaire rows\u201d across Brisbane and the Gold Coast<\/a> also strengthened their hegemony in the luxury market.<\/p>\n

They clocked up an eyewatering annual growth of up to 58 per cent, with Mermaid Beach<\/a> on the Gold Coast, alongside Brisbane\u2019s New Farm and Teneriffe, collecting record median highs of more than $2 million according to Domain\u2019s latest\u00a0House Price Report.<\/em><\/p>\n

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Affluent suburbs within Brisbane and the Gold Coast have seen house prices grow up to 58 per cent in the last year. Photo: Supplied<\/strong><\/em><\/figcaption><\/figure>\n

The Gold Coast\u2019s Paradise Point and Surfers Paradise, with Brisbane blue-chip suburb Ascot, were hot on their heels following a growth spurt that pushed medians north of $1.8 million.<\/p>\n

Incredibly, they\u2019re figures that are comparable \u2013 or even higher \u2013 than the San Francisco County median of $A2.174 million, according to the California Association of Realtors.<\/p>\n

And with the \u201cZoom change\u201d trend drawing more remote workers to sunny Queensland, more suburbs could soon enter the exclusive list.<\/p>\n

According to the report, Mermaid Beach is now the second most expensive suburb in Queensland \u2013 after Sunshine Beach \u2013 following a 42.6 per cent hike in the median house price to $2.375 million in December 2021.<\/p>\n

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Global events in the last two years have fuelled Queensland\u2019s house price growth as prestige buyers seek a change in lifestyle. Photo: Supplied<\/strong><\/em><\/figcaption><\/figure>\n

And while the prestigious pocket is sans a Golden Gate Bridge, it does house the famous Hedges Avenue \u2013 colloquially known as \u201cmillionaire\u2019s row\u201d.<\/p>\n

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\u201cI think there\u2019s been a reset of people\u2019s minds globally about what they want [as a result of the pandemic],\u201d says\u00a0Alex Caraco of Raine and Horne Elite.<\/a><\/p>\n

\u201cA lot of people are not satisfied with their life and then when there\u2019s a war people do assess things very quickly. So, there\u2019s definitely a lot more interest in the Gold Coast market [right now].<\/p>\n

\u201cPeople genuinely believe they want the best and the best is Hedges Avenue \u2026 and they are no longer coming here to buy and sell a holiday house, but to live.\u201d<\/p>\n

It\u2019s a sentiment that allowed Nine Gold Coast news co-presenter Eva Milic, and her property developer husband Marcus Dore, to offload their Hedges Avenue beach house in an off-market deal worth $14.5 million in January this year, and it\u2019s one Caraco says is already fuelling strong interest for a four-level mega-mansion he\u2019s marketing for $20 million at nearby 17 Hedges Avenue.<\/p>\n

READ MORE VIA DOMAIN<\/a><\/p>\n

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