28 Culgoora Cst, Reedy Creek, has smashed the suburb’s record price.
ANOTHER Gold Coast suburb has had its record price smashed in 2022, this time in Reedy Creek.
Although not an area you often hear about, Reedy Creek, just to the west of the M1, is quietly transforming into a well-established and sought after suburb.
Families love Reedy Creek for its proximity to Somerset College.
A family home at 28 Culgoora Cst surpassed the highest price achieved in the suburb when it sold under the hammer for $2.94m last week.
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It superseded the previous top sale, which was held by 18 Abbey Ridge Rd, by $115,000.
Nicole Carter from Mcgrath Surfers Paradise, who marketed the property, said the auction attracted five registered bidders, with more than 56 groups viewing the house during its three-week campaign.
The open-plan living areas.
The sellers, a young professional family, wanted to trade in views for water frontage, while the buyers, also a young family, wanted to be closer to their childrens’ school, the elite Somerset College
Proximity to good schools is one of the main reasons this suburb has grown in popularity over recent years, particularly with families, yet it continues to remain relatively affordable for many.
The house comes with a huge cinema room.
“Reedy Creek is one of the best kept secrets of the Gold Coast,” Ms Carter said.
“Culgoora Crescent is located in the sought-after Observatory Estate, which has some of the Gold Coast’s best views and is still only 10 minutes from Burleigh Beach,” she said.
“We find the location is highly prized by families wanting to be close to the elite schools of Somerset College and Kings Christian College.
And an extensive gym.
“And the estate is surrounded by walking trails and parks, which buyers are seeking right now.”
Ms Carter said Reedy Creek had an abundance of custom-built, architecturally designed houses, many of which have been built to capture coast and city skyline views to the east and bush and mountain views to the west.
The master suite has bushland views.
“The more buyers that come into the area for a look and to compare it with other suburbs, the more we find they fall in love with it and never want to leave,” Ms Carter said.
Ms Carter said prices in Reedy Creek had undergone significant rises over the past few years with 40 per cent growth in the past 12 months.
House prices in Reedy Creek have risen by more than 40 per cent in 12 months.
According to PropTrack data, the median house price growth in the suburb has soared well past the $1m mark to sit at $1.293m, which is a huge uptick on 12 months ago, when it was $921,500, and stock is predominantly made up of freestanding homes.
The five-bedroom home on a 1033sq m block in Culgoora Cst last sold in 2017 for $1.66m, earning the owners capital growth of $1.28m.
However, despite the price rises, Ms Carter said the suburb still offered value for money and there were still some great buying opportunities “without the heavy price tag”.
The bar area.
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