Features

Canal and waterfront living, near South Stradbroke Island, direct access to the Broadwater

The island communities of Sovereign Islands and neighbouring suburbs, Paradise Point and Ephraim Island, are widely considered to be the most prestigious addresses on the Gold Coast. The enclave of islands are the jewel of the city's Broadwater, setting the benchmark in waterfront living.

Just minutes north of Surfers Paradise, this area offers convenient access to Brisbane while seemingly a world away from the rest of the Gold Coast. The final stage of Sovereign Islands has been released, with waterfront home sites at the island's Knightsbridge precinct making headlines after a number of multi-million dollar sales in quick succession. Among them was a record-breaking $9.5 million sale for a 3500 square metre vacant home site which is considered to be the highest price paid for a vacant waterfront site in Queensland and possibly Australia.

This sprawling parcel of land is north-facing and features unrestricted Broadwater views to North Stradbroke Island. Designed with individual privacy and tranquillity in mind, this exclusive area provides the best life has to offer. Deep water access and moorings that are protected from the open ocean accommodate owners of big boats - which there are plenty of in this luxurious neighbourhood, along with bridge-free access for masted yachts.

The $545 million Ephraim Island luxury residential development on the northern end of the Gold Coast has surged ahead in the last year with millions of dollars in sales and construction activity peaking with more than 640 men on site at one stage.Billed as Australia's most prestigious residential island, Ephraim Island is a joint venture between Mirvac and the Lewis Land Group of Companies.

The development occupies a 9.619ha vacant island in the middle of the Broadwater and it is connected to the cosmopolitan village of Paradise Point by a 400 metre fully renovated bridge. Sales during the year included luxury apartments, absolute beachfront houses and waterfront villas. Buyers came from throughout Australia and internationally.

The total number of unconditional sales recorded at Ephraim Island since its launch was 259. The average price across all sales is in excess of $1.2 million.In the 2001 Census, Sovereign Islands and Ephraim Island were included as part of the Main Beach - Broadwater region. According to the Census were 5376 people living in the area with a median age of 46. The median individual income was between $500 and $599 per week. Of all occupied private dwellings 48 per cent were either fully owned or being purchased, while 34 per cent were being rented.

A short drive from Runaway Bay Marina is Paradise Point - another of the Gold Coast's premier waterfront suburbs. Bordered by waterways on three sides and featuring its own protected harbour, Paradise Point is part of the Gold Coast's prestigious 'North Shore'. Surrounded by affluent suburbs, Paradise Point offers a mix of waterfront and dry residential blocks, with parks and waterways providing a relaxing lifestyle for locals.

Both Coomera River and Coombabah Creek feed a system of canals, while the Broadwater, Coomera and South Stradbroke islands shield the area from rough seas. As with Sovereign Islands, most of Paradise Point was originally owned by one man who has, over the years, sold off parcels of land.

The first canal system to be developed here was Paradise Point Keys more than 20 years ago, followed by Key Biscayne.Despite a dip in the median house price between the December 2003 and December 2004 quarters, Paradise Point properties continue to fetch high prices, largely because of their superb waterfront location

Source: REIQ