Market Update x July 23 – 30

WORDS BY – Brodie Low

What has recently sold, figures and auction clearance rates.

The last week of July was a cracking week for the suburb of Palm Beach with 7 properties selling between the range of 1.32 million to 2.3 million dollars. All and all, an incredibly strong week for both apartment and home sales across the coast line, particularly on the Gold Coast.

SOLD for $2,150,000

2/45 Petrel Avenue in Mermaid Beach
Sold on the 30th of July. Purchased August 2019 for 1.35 million. This newly built duplex home in the heart of Mermaid Beach epitomises beach style living at its finest, with 3 bedrooms, 2 bathrooms and a pool- it sold within 27 days of being listed.

SOLD for $1,515,000
2/58 Albion Avenue in Miami
This 5 year old 2- storey villa sold on the 27th of July after being on the market for 55 days. A beautifully designed, modern duplex that was impeccably presented.

SOLD $1,640,000
2/164 The Esplanade in Burleigh Heads
This ‘Mahana’ beach front unit directly located across the road from Burleigh Beach sold on the 25th of July. Recently renovated and purchased for $835,000 in November, 2019, there was good profit to be gained through this sale. This iconic spot will always retain value due to location.

 SOLD $2,400,000

32 Drift Court in Kingscliff
Sold on the 28th of July, this expansive modern 4 bedroom, 3 bathroom home with a pool sold within a fair price guide. Whilst taking longer to sell, this property was on the market for 109 days and was originally advertised with a price of 2.45 million, dropping $50,000 prior to selling.

SOLD $1,900,000
8 Twenty Fourth Avenue in Palm Beach
This 2 level, 5 bedroom home just 150 meters to the beach, recently sold on the 28th of July after 44 days on the market. Purchased in November, 2019 for just $1,010,000 there was significant capital growth made with this sale.

SOLD $1,325,000

1 Celtis Court in Palm Beach

Sold on the 29th of July within 18 days, advertised as offers over 1.295 million. This oversized family home with a pool on a large site of 754m2 had not been sold for 39 years. With room for renovation, there is still plenty of value to be added to the buy in price.

SOLD $1,350,000
8/22 Magnoli Circuit in Palm Beach
Sold on the 25th of July, just 1 day after listing, this Magnoli townhouse is located in the sought after Magnoli estate precinct. Immaculately presented and previously purchased in February, 2016 for $745,000 this home still boasted a great result for both buyer and vendor.

SOLD $1,830,000
123 Mallawa Drive in Palm Beach
Sold on the 29th of July, this 4 bedroom, 2 bathroom home was renovated to absolute perfection with the added bonus of an outdoor pool. Purchased in June, 2020 for just $815,000 this sought after address made just over $1 million dollars before renovation costs.

SOLD $1,615,000
23 Melaleuca Drive in Palm Beach
Sold on the 29th of July after 26 days of being listed, this family home with canal access was handed over after 23 years of being with the previous home owner.

SOLD $2,300,000
903/6 Palm Beach Avenue in Palm Beach
Sold on the 28th of July, this luxury apartment on the beach side ‘Villa’ Residence of Palm Beach was one of the first resales of the development. This was the top floor of the residential mid-rise residential building, sold within 31 days of listing.

SOLD $1,775,000
162 Townson Avenue in Palm Beach
Sold on the 30th of July after 19 days on the market, this modern renovated family home boasting 4 bedrooms, 2 bathrooms and a pool sold bang on the same price with Corelogics market valuation.


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Call Sam Gibson (Founder of GPC)
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