Q1 Gold Coast mortgagee apartment offering for less than 2002 sale price

Q1 Gold Coast mortgagee apartment offering for less than 2002 sale price
Jonathan ChancellorDecember 7, 2020

The mortgagee offering on the 54th floor of the Gold Coast landmark tower Q1 comes with an $890,000 asking price.

Agent Danny Woolbank at Ray White Broadbeach says the three bedroom two bathroom Surfers Paradise apartment has breathtaking views from every room.

5405 at 9 Hamilton Avenue (pictured in gallery above) is 205 square metres.

It last traded at $1.05 million in 2002.

When initially listed in 2011 it had a $1.2 million asking price.

Fitch’s 13th report covering the performance of Australian mortgages by postcode featured Surfers Paradise in 10th place in the 20 worst-performing postcodes across Australia.

Queensland was the worst-performing state with delinquencies at 1.04%. All states have improved, but Queensland showed the smallest improvement among all states, in the latest Fitch report issued this week.

Queensland dominated the list of the worst 20 suburbs, with eight entries including Airlie Beach in 8th place.

Five of the worst-performing postcodes were located in Brisbane, three of which were in the Gold Coast area.

Surfers Paradise and Mudgeeraba have been previously listed among the worst- performing postcodes, while Oxenford appeared in the list for the first time.

All these postcodes experienced an increase in arrears during the six months to September 2014, and particularly in the 90+ days arrears indicating that the housing market or unemployment may be the main cause of the increases. 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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