Gold Coast real estate: $1 million profit in two years

SHOP days before the pandemic hit Australian shores paid off for a Gold Coast couple who have pocketed nearly $1 million in two years.

Chris and Kim Gordon moved into their Burleigh Heads property in January 2020, days before COVID-19 hit Australia.

70 Acanthus Ave, Burleigh Heads sold for $2.605 million.

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They paid $1.65 million for their home, a newly built spectacular split-level home at 70 Acanthus Ave.

Last week they sold it for $2.605 million through Conner Malan and Dan Donovan of Ray White Burleigh Group.

Malan said a buyer from Sydney looked at the property after it went up for auction.

“Sellers wanted $2.6 million and a lot of the early feedback was hovering around the low $2 million mark,” he said.

“The buyer couldn’t get here for a period of time and finally came and looked at it and bought it.

“Sellers ended up getting their dream price. They were excited.”

Malan said that since that sale, the Gold Coast market has slowed.

“Everyone will sit idly by because of the election and rising interest rates,” Malan said.

“But the market will recover and stabilize again, it just won’t be the manic market that we’ve had recently.”

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