A recent house prices report in the Gold Coast Bulletin, sourced from information provided by CoreLogic RP Data, reveals that Mermaid Beach has been the standout performer on the Gold Coast over the past 12 month period to February, 2016.
Mermaid Beach house prices increased on average 25.5% to $1.21m. This was the highest increase for any suburb across the Gold Coast. Currently the median sales price of houses in the area is $1,700,000.
The size of Mermaid Beach is approximately 1 square kilometres. It has 5 parks covering nearly 11% of total area. The population of Mermaid Beach in 2006 was 5,746 people. By 2011 the population was 5,731 showing a stable population in the area during that time. The predominant age group in Mermaid Beach is 25-34 years.
Households in Mermaid Beach are primarily childless couples and are likely to be repaying between $1800 – $2400 per month on mortgage repayments.
In general, people in Mermaid Beach work in a Professional occupation. In 2006, 45.3% of the homes in Mermaid Beach were owner-occupied compared with 41.3% in 2011.
The Top Ten Performers – 12 month period to February, 2016
Suburb/Average house sale price/increase
1) Mermaid Beach $1.21 million 25.5%
2) Willow Vale $777,500 21.5%
3) Tallebudgera $810,000 19.1%
4) Clear Island Waters $1 million 19%
5) Guanaba $810,000 18.1%
6) Hope Island $620,000 17.5%
7) Coolangatta $756,000 16.3%
8) Tallai $769,000 16.3%
9) Coomera $446,000 15.8%
10) Bundall $920,000 15.7%
The latest figures form CoreLogic RP Data show house prices in Mermaid Beach have shot up nearly five-fold in the past 20 years. Prices have increased by 480% positioning Mermaid Beach as the standout performer again in a list of 10 suburbs that had price increases above 400%
Top 10 suburbs to increase the most in price in 20 years
2016 average sale price/ 1996 average sale price/ percentage jump in 20 years
1. Mermaid Beach — $1.211 million, $250,000 — 480 per cent
2. Coolangatta — $756,000, $162,250 — 465 per cent
3. Miami —$645,500, $140,000 — 461 per cent
4. Paradise Point — $900,000, $195,000 — 461 per cent
5. Palm Beach – $675,000, $148,000 — 456 per cent
6. Burleigh Waters — $687,500, $161,500 — 425 per cent
7. Currumbin — $780,000, $180,000 — 433 per cent
8. Burleigh Heads — $685,000, $161,500 — 424 per cent
9. Hope Island — $620,000, $145,000 — 427 per cent
10. Mermaid Waters — $760,000, $185,000 — 411 per cent
Why has Mermaid Beach outperformed all other suburbs?
There are a number of reasons that have been pointed out in the Gold Coast Bulletin article however in this instance I prefer to use my own judgement as a real estate agent that has been selling property in the area since 1993 and as a local property owner who first moved to Mermaid Beach in 1986 and has owned 4 properties in the area over that time having purchased my first home in Arthur Street for $89,000.
The interest in Mermaid Beach stems back to the very reason why the Gold Coast is what it is today – the interest in our beaches. The Gold Coast became popular and still remains popular because of the Australian love affair with surf, sun and sand. Whilst the Gold Coast has now grown to become the 6th largest city in Australia with lifestyle development spreading across suburban, waterfront precincts and golf course estates, it is the beach that still attracts the greatest attention.
There are 53 kilometres (33 miles) of stunning Gold Coast beaches from the NSW border at Coolangatta up to the tip of the Gold Coast seaway. This breathtaking strip of golden sand is lined with beachside parks, beachfront homes and low-rise and high-rise apartment buildings across 11 beachside suburbs.
Of all these 11 suburbs Mermaid Beach has the lowest density zoning which prohibits any highrise development. The zoning across the Mermaid Beach beachfront is divided into 3 sections – 2 of which allow low-rise development to a 6 storey maximum whilst the middle precinct running along Hedges Avenue from Seaside Avenue north to William Street only allows development of houses or duplex pairs. In the side streets running between the beach and the highway development is restricted to a maximum of 3 levels only.
It is this low density environment that attracts Gold Coast locals who wish to live near the beach, or on the beach, away from the high density nature of all other beachside suburbs that do carry highrise development. It is considered a safe environment for families and with no congestion in the streets or on the beach.
As a result, Mermaid Beach is Gold Coast prime residential real-estate. Gold Coasters know it and they bury their hands deep into their pockets to own a slice of the neighbourhood and enjoy the lifestyle we have become famous for.