Character homes are making a comeback, local property expert says.
Ray White Mermaid Beach agent Nic Mckewin said many house hunters were opting for properties with a traditional style and quirky features over more modern designs. His comments come after a classic beach shack at Palm Beach sold days before it was due to go under the hammer this weekend.
Mr Mckewin, who marketed the Denawen St property, said a young family snapped up the four-bedroom A-frame house for $695,000.
“They were locals who had sold (their home) previously and were buying back into the area,” he said.
He said they liked the house’s quirky style. “It’s eccentric, it’s a unique type of property, one of the last remaining of that era,” he said. “It embodies Palm Beach.” It is the fourth property he had sold on Denawen St in the past three years. “People are still competing for unique properties,” he said.
Over the weekend, the latest McGrath Report revealed Australia’s leading regional hubs, including the Gold Coast, were undergoing significant price growth on the back of strong demand.
McGrath executive chairman John McGrath said improved infrastructure had made commuting times faster between regional areas and capital cities, and when coupled with the NBN rollout making access to technology better, these regions had become even more appealing to buyers. In Queensland, the top regional performer was the Sunshine Coast where the median price was up by 5.2 per cent followed by the Gold Coast, which was up 1.9 per cent.
Mr McGrath said an influx of buyers from interstate had really driven the Sunshine and Gold Coast markets.
“In Sydney you can sell a very mediocre home … for $3 million and what you can go and get for under $1 million on the Gold Coast is a canal front, almost brand new home and enjoy the beaches and the waterways and everything else the (city) has to offer,” he said.
Population figures were rising in the regions.
Seven of the top 10 regions to benefit from Brisbane residents moving in were beachside locations. Of those, the Gold Coast gained an extra 8800.
“The Gold Coast seems to have magnetic appeal, as it was among the top 10 destinations chosen by city escapees in every single state and territory, attracting 19,400 people from eight capitals,’’ Mr McGrath said.