Tucked just behind the Gold Coast’s most expensive suburb, Mermaid Beach, its quieter cousin Mermaid Waters has been undergoing a steady transformation.

Once defined by original brick-and-tile homes on large blocks in canal-side estates, the unassuming suburb is now staking its claim among the Gold Coast’s most desirable residential postcodes.

New builds are rising where older homes once stood, major renovations are modernising family properties, and contemporary two-storey villas are reshaping corner lots.

The suburb’s coming of age is perhaps best exemplified by PALA – a striking four-level residence located on a north-east facing point position at 24 Winch Court. Designed by architect Joe Snell of Studio Snell and brought to life by Havendeen Projects, PALA garnered national attention after claiming multiple honours at the 2024 Master Builders Awards, including ‘House of the Year’ on the Gold Coast and in Queensland, before taking out the top going in Tasmania. Sales agents Jamie Harrison and Michael Kollosche are marketing the five-bedroom, six-bathroom trophy mansion ahead of a 16 May auction.

Across Mermaid Waters, original homes are making way for statement residences designed to meet the needs of today’s lifestyle-focused buyers. Broad frontage homes with expansive floorplans and outdoor entertaining zones are increasingly in demand, especially among families and professionals seeking both space and centrality.

A Palm Springs-inspired residence at 20 Long Island Court known as Casa Palma showcases the level of luxury now expected in this evolving suburb. Recently renovated with high-end finishes and relaxed resort-style appeal, the five-bedroom home is marketed by Taylor Kleinberg and will go to auction onsite on Friday, 9 May at 2pm.

Designer homes are also emerging in quiet residential pockets. At 6 Frascati Street, light-filled interiors, marble finishes and a magnesium pool deliver refined coastal living just minutes from the sand. Meticulously rebuilt from the slab up, the four-bedroom residence is being marketed by Gypsea Youngsmith and Taylor Kleinberg, with the auction scheduled on-site for Friday, 9 May at 4pm.

Nearby, 3B Caprice Court offers a stylish four-bedroom villa with a private pool and sunny alfresco entertaining, just 10 minutes from the beach. The property is currently listed for sale with Jamie Harrison.

With demand for quality homes on the rise, prices have followed suit. According to CoreLogic, the median house value in Mermaid Waters is now $1,525,000, marking a 44.9 per cent increase over the past five years and 30.7 per cent growth over the past three years. In the past 12 months alone, values have risen by 9.7 per cent.

Kollosche has been behind the suburb’s highest residential house sales, setting new benchmarks that reflect buyer confidence and a clear willingness to pay a premium for quality homes in prime locations.

In March 2024, Taylor Kleinberg and Brad Coyne sold 84 Oceanic Drive for $7,700,000 – the highest recorded sale in Mermaid Waters . That result followed the sale of 43 Markeri Street, a resort-style residence known as The White House, which achieved $7,300,000 under the hammer in November 2023. The property was marketed by Taylor Kleinberg and Jamie Harrison. In May last year, 30 Montego Court sold at auction for $7,250,000 in a campaign led by Taylor Kleinberg and Michael Kollosche.

Much of Mermaid Waters’ appeal lies in its location. Less than 2km from the sand at Mermaid Beach and only a five-minute drive to the heart of Broadbeach, the suburb strikes a rare balance between laid-back residential living and proximity to coastal amenity.

Residents enjoy easy access to major retail and lifestyle hubs, including Pacific Fair, the Q Super Centre, and the dining scenes of Nobbys Beach and Broadbeach. With a mix of large waterfront blocks and more affordable dry blocks, Mermaid Waters appeals to a wide range of buyers seeking a quiet, well-connected lifestyle.

As the calibre of homes continues to rise and availability remains tight, Mermaid Waters is well-positioned for continued growth. The suburb’s evolution is gaining momentum – and it’s showing no signs of slowing.

For more information on current listings or to discuss your property goals, contact the team at Kollosche.