A Gold Coast mansion at 79-83 Hedges Avenue, Mermaid Beach sold for $43 million in just 48 hours, marking the second Queensland property record in a week. The six-bedroom residence surpassed the previous high of $40 million, set earlier this year by a Noosa Heads waterfront property. An unnamed local businessman won the bidding war after submitting six competing offers against the listing price of $47.5 million. The final sale price confirmed the home’s status as one of Australia’s most exclusive coastal properties, demonstrating how high-end real estate transactions operate independently of broader market trends.

The home was constructed in 2011 by the Morris property development family, who acquired the original lots in 2006–2007 for $19.55 million before clearing existing structures. The final design covers 2,241 square meters across a 1,212-square-meter raised plot, offering 30 meters of absolute beachfront, an infinity pool, a rooftop spa, a private cinema, a wine cellar, and parking for 12 vehicles. Current estimates suggest rebuilding the property, including land costs, would now exceed $65 million.

This sale follows a $32 million record apartment purchase in nearby Miami, reinforcing strong demand for premium Gold Coast assets. The focus remains on scarcity, prestige, and long-term value rather than short-term market fluctuations.

Hedges Avenue has long been Queensland’s most sought-after address, with recent high-profile transactions including a $28 million purchase by mining magnate Clive Palmer and a $26 million acquisition of a vacant block. While broader residential markets experience slowdowns, luxury beachfront properties maintain resilience.

The Mermaid Beach sale, combined with the Miami record, shows buyer willingness to pay premiums for properties offering unmatched location and exclusivity. For investors, the transaction demonstrates that certain assets preserve value regardless of economic conditions.