Rural Gold Coast suburb’s median house price slashed in half

first_imgHe said there had also been less million-dollar property sales in the past year.“They’re out there, they’re just not currently on the market,” he said.Mr Valcic and colleague Melody Hu recently sold a chalet on Ruffles Rd for a bargain $191,000.“We had it for maybe three weeks and it was gone, probably because it was cheap and a good investment,” he said. MORE NEWS: Hot spots for kitchen fires Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:29Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:29 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWays to get into the property market for less00:29 Willow Vale is known for its multimillion-dollar acreage properties.A HOUSING estate on Willow Vale’s northern boundary is dragging the suburb’s median price down.Latest CoreLogic data shows the rural suburb’s median house price has been slashed in half from $915,000 to $435,000 in the past year.It has also recorded the largest drop over the past three years after its median plummeted 48 per cent, behind Biggera Waters (24.8 per cent) and Coomera (18 per cent).But Ray White Nerang principal Clint Hynes said a handful of sales in a new housing estate on the boundary of Willow Vale and Pimpama had skewed the figures.“Development of the northern corridor is what’s going on,” he said.“Willow Vale now includes smaller house blocks off the M1.”He said the suburb’s boundary ran right through Hawthorn Estate, which had smaller houses and duplexes more commonly seen in Pimpama. “Everything in Willow Vale is acreage,” he said.More from news02:37International architect Desmond Brooks selling luxury beach villa10 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago“It is one of the best kept secret suburbs on the Gold Coast.“It’s the most picturesque valley — it’s right up there with Tallebudgera Valley.”LJ Hooker Nerang Agent Kris Valcic said sluggish conditions earlier this year, which meant houses were spending more time on the market, contributed to the median house price’s decline. MORE NEWS: Estate’s sale price just short of recordlast_img

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