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Interstate Family Achieves Impressive Sale Despite Falling House Prices

Posted by Paulina Sekura on February 10, 2024
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Depict a realistic high-resolution photograph that showcases a family, consisting of a Middle-Eastern father, a Caucasian mother, and their two children - a South Asian boy and a Hispanic girl, all looking satisfied and content. They are at the foreground of a 'For Sale' sign planted on the front yard of their suburban home, symbolizing their achievement in managing to sell their property despite the market's declining house prices. The setting is a picture-perfect neighborhood with other houses, manicured lawns, and clear skies in the background.

An interstate family has recently made a remarkable sale in the exclusive Gold Coast suburb of Mermaid Beach, despite the decline in house prices in the area. The four-bedroom, three-bathroom house located at 19 Cronulla Ave was sold for a staggering $5.925 million, making it one of the highest prices ever paid for a non-waterfront property in the blue-chip suburb.

The house, built in 2020 and situated on a 405 sqm lot, attracted considerable interest with six registered bidders participating in the auction. Ultimately, a local buyer emerged victorious with the highest offer. The property had previously changed hands for $4.4 million in September 2022.

While property prices in Mermaid Beach have experienced a significant decline of 22% over the past year, with the median now at $2.525 million, this sale demonstrates that exceptional properties in sought-after locations can still command a premium.

The vendors, Rachel and Nathan Walton, had purchased the architect-designed house as a near-new build and subsequently added a valued pool. However, the family decided to sell and return to their home state of NSW after their teenagers struggled to adapt to the interstate move. Prioritizing their family’s happiness, the Waltons made the decision to list the home.

Featuring four bedrooms, three bathrooms, and various amenities such as a gym, sauna, and a kitchen equipped with top-of-the-range appliances, the house proved to be an attractive investment. Marketing the property were Daniel Donovan and Conner Malan of Ray White Burleigh Group.

Despite statistics indicating a decline in local house prices, Donovan argued that housing in Mermaid Beach has actually become more sought after, with limited supply driving up prices. While unit prices may have pulled back, the demand for houses in the area remains robust.

This successful sale serves as a testament to the enduring allure of well-appointed properties in exclusive locations, where even amidst falling house prices, exceptional homes can still achieve impressive results in the real estate market.

FAQ Section:

1. What was the selling price of the house in Mermaid Beach?
The house sold for an impressive $5.925 million.

2. How many bidders participated in the auction?
There were six registered bidders.

3. What is the current median property price in Mermaid Beach?
The current median property price in Mermaid Beach is $2.525 million.

4. Why did the vendors decide to sell their house?
The vendors, Rachel and Nathan Walton, decided to sell the house and return to their home state of NSW after their teenagers struggled to adapt to the interstate move.

5. What amenities does the house have?
The house features four bedrooms, three bathrooms, a gym, sauna, and a kitchen with top-of-the-range appliances.

Key Terms/Jargon:
– Non-waterfront property: A property that is not located directly on a body of water, such as a beach or riverfront.
– Blue-chip suburb: A highly sought-after and prestigious neighborhood typically known for its high property values and quality amenities.
– Median property price: The middle price point when all the property prices in an area are ranked from lowest to highest.
– Real estate market: The industry and marketplace where properties are bought and sold.

Suggested Related Links:
Ray White – Official website of Ray White Burleigh Group, the real estate agency that marketed the property.
Gold Coast City Council – Official website of Gold Coast City Council providing information about the city and its suburbs, including Mermaid Beach.
Domain – A popular real estate website with listings and information about properties in various locations.
Real Estate.com.au – A well-known Australian real estate website with property listings and market information.

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