Falling prices inside De Ville apartments at Main Beach on the Gold Coast

Falling prices inside De Ville apartments at Main Beach on the Gold Coast
Falling prices inside De Ville apartments at Main Beach on the Gold Coast

De Ville is the Main Beach apartment block in the Gold Coast at the centre of the on-going expenses scandal involving Federal Health Minister Sussan Ley.

Ley, who has stood down from her position after being accused of using taxpayer funded travel entitlements, spent $795,000 on a two bedroom apartment in 2015.

It was claimed her trips to and from the Gold Coast were taxpayer funded.

A one bedroom, in the 3645 Main Beach Parade building, (above) sold recently for $410,000.

Last traded for $305,000 in 2013, the apartment went back in price after having sold for $360,000 in 2007.

It went for $193,000 in 2002 and just $80,000 in 1984.

Further recent sales in the apartment block suggest Ley isn't likely to make any immediate gain on her purchase.

The apartment next door to Ley's fetched $739,932 in September last year.

The 8th floor, 131 sqm apartment (below) had been renovated to the highest standards and has two bedrooms and two bathrooms like Ley's, and an ocean facing balcony.

Falling prices inside De Ville apartments at Main Beach on the Gold Coast

The property has gone backwards in price, having last traded for $742,000 in 2011.

It also traded in 2005 for $648,500, 1999 for $310,000 and in 1985 for $285,000.

Another two bedroom, two bathroom apartment, (below) this one on the 5th floor, also offering an ocean facing balcony sold for $625,000 back in May.

Falling prices inside De Ville apartments at Main Beach on the Gold Coast

This apartment too has gone back in price the last two times it's traded.

Last traded for $650,000 in 2012, the apartment also went back from its 2007 price of $770,000, which suggests Ley won't be getting her money back were she to sell.

It previously traded for $250,000 in 1996 and $117,000 in 1980.

Neither apartment tops the big $795,000 price that Ley paid.

Ley's apartment too had gone back in price when she bought it, having last traded for $830,000 in 2006.

It sold for $455,000 in 2002 and $205,000 in 1984.

Ley also used taxpayers money to visit the Gold Coast when bidding on another property, this one on the hinterland, however her offer wasn't accepted.

 

Tags: 
Gold Coast Main Beach Parade

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riches4kc
So why are the prices going backwards? From the photos, there is a historic surf club across the road, and one would presume the view won't be built out. So why are the prices so bad?
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