Tallai, Gold Coast house sold by mortgagee at $150,000 loss

A five bedroom three bathroom Tallai home on Queenland's Gold Coast has been sold by its mortgagee.

Situated at 10 Tolhurst Court, Tallai the home fetched $530,000 in the week prior to Christmas, after being passed in at LJH November mortgagee auction.

It last sold in 2008 for $680,000.

It sold at $310,000 in 2001.

Set on 0.58 ha the listing noted that the existing residence requires a substantial amount of work to be restored.

Located minutes from the major local amenities, the property is a short drive from the M1.

Featuring an in ground swimming pool the property also contains a garden shed for tool storage.

The median price for a home in Tallai is $863,750, according to CoreLogic data, with a 2.3 percent annual change in median price over the past decade.