Eric, Lea and their son Kristian Raaschou at the home they have just sold in Mermaid Waters. Picture: AAP/John Gass.It comes as property experts say the upcoming Commonwealth Games and the luxury housing market are driving price growth on the Gold Coast.The latest Real Estate Institute of Queensland quarterly report reveals house prices on the Gold Coast grew more than Brisbane during the June quarter.REA Group chief economist Nerida Conisbee said it was unusual for a region to outperform a capital city housing market.“The Gold Coast is creating quite a lot of jobs at the moment because of the Commonwealth Games and infrastructure spending,” she said.“It provides a lifestyle that people — particularly from places like Sydney — find highly desirable.”Ms Conisbee said nine of top 10 suburbs in Australia for rental demand were on the Gold Coast. “A lot of people rent first before they buy.” The sale of this home at 13 Intrepid Dr, Mermaid Waters, previously held the price record for the suburb.Kollosche Prestige Agents managing director Jordan Williams negotiated the sale of the property at 51-53 Portobello Rd to a family relocating from Brisbane.Mr Williams said the buyer paid cash for the home after falling in love with the size of the home and the half acre block.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoHe said the majority of his clients were paying cash for high end property above $2.5 million.It’s been a big month for prestige property sales on the Gold Coast, with Mr Williams saying his agency had completed $40 million worth of sales in the past four weeks — the majority to local buyers.“Local buyers are seeing value in the market,” he said.“It’s hard to find good quality homes and buyers are snaffling them up quickly.” 51-53 Portobello Drive Mermaid Waters.THE sale of a waterfront mansion on a half acre block in Mermaid Waters has smashed the house price record for the Gold Coast suburb.Owner Erik Raaschou and his wife, Lea, have just sold their five-bedroom, four-bathroom dream home on a huge 1900 sqm at 51-53 Portobello Road for close to $2.9 million in cash.It’s definitely paid off for Mr Raaschou, who paid $2.05 million for the property in May last year — although he did undertake substantial renovations.“For us to get that sort of a return after a bit over a year is testament to the strength of the Gold Coast market,” he said. “It’s gone nuts.”The record residential sale for Mermaid Waters had previously been held by another five-bedroom waterfront home at 13 Intrepid Drive, which sold for $2.65 million in May 2015. Andrew Winter’s spring selling tips Regional house prices still suffering Brisbane’s new record house price REA Group chief economist Nerida Conisbee.
Hearts of Oak returned to winning ways in the final game of the first round of the GFA Special Competition with a less than impressive 2-0 win over struggling Inter Allies. The win extended the Phobians’ 100% record at home to 3 games and sent them into the top 3 of the league table. The first half was a scrappy affair with chances coming few and far between. The best chance of the half fell to Hearts winger Kojo Obeng Jnr, who missed a 1v1 after being played through on goal by Joseph Esso. Moments later, Obeng again squandered a good opportunity to play in Esso who found himself in acres of space in the Inter Allies penalty area. Obeng’s disappointing performance came to an end two minutes to the break when he was replaced by Kofi Kordzi, as both teams went into the break with the score goalless. The second half started with perhaps the turning point in the game, as Inter Allies goalkeeper Salifu Saed was sent off for handling the ball outside his area. The goalkeeper misjudged a long ball into the Allies area, and flicked the ball out of the path of Hearts’ Kordzi who had an open goal to aim for. Hearts made the advantage count when they scored through a corner kick seven minutes after the dismissal of Saed, as center back Robert Addo Sowah headed in through a Christopher Bonney corner. Hearts continued to dominate the game and were soon two goals up. Forward Joseph Esso pounced on a defensive clearance, which caught the Inter Allies substitute goalkeeper out, and tapped into a empty net. Hearts went on to close out the game and seal another three points, much to the delight of the fans.