Tennis homes court spike in demand as Grand Slam fever hits property market

GRAND Slam fever has hit the property market, with a spike in sales of trophy homes with tennis courts in some of the Gold Coast’s most exclusive waterfront enclaves and hinterland estates.

Research into the top end of town reported a total of $50m in residential sales of luxury properties with tennis courts on the Gold Coast in 2020, with three waterfront dream homes changing hands for more than $7m each.

MORE NEWS

Robbie Williams splurges on dream Swiss villa

Knockdown shack’s secret cellblock history

Multimillion dollar stoush for Mick Fanning’s Coast duplex

Knight Frank’s first Australian Residential Tennis Court Premium report found increased sales of super-prime properties with tennis courts in five Australian cities, with a total of $682.8m transacting across 38 sales, up 230% on a weak 2019 when there were just 14 sales.

The Gold Coast came in third, ahead of Brisbane with $20.1m in sales and behind Sydney ($436.6m) and Melbourne ($134.6m).

The city’s top tennis court homes sold in 2020 were located in Surfers Paradise, Mermaid Waters and Broadbeach Waters, and all three were entertainer’s dreams with an average of five bedrooms, as well as swimming pools and direct ocean access via private pontoons.

Knight Frank’s national head of residential Shayne Harris said super-prime properties — defined as the top one per cent of each market — were usually tightly held but saw movement as the pandemic forced families to reassess their lifestyle and assets.

“Our research conducted a few months into the pandemic found 66 per cent of global residential buyers listed outdoor space as the top factor to be considered when choosing a home, and we have seen a corresponding rise in interest in super-prime properties with tennis courts,” Mr Harris said.

“The Gold Coast lifestyle became more popular through COVID-19 resulting in last year being the only year in the past five to register any super-prime sales accommodating tennis courts.”

Luxury tennis court properties on the Gold Coast occupied an average land area of 6,250 sqm, almost double the average area in Brisbane or Sydney of 3,150 sqm.

The trend shows no sign of slowing, with another super-prime tennis court home sale already chalked up in 2021 with the $12.5m sale in January of entertainment dynamos Billy and Jackie Cross’ Broadbeach Waters riverfront mansion at 297-299 Monaco Street.

Marketing agent Michael Kollosche said high-end buyers were choosing to invest in home assets as the pandemic continued to cast shadows on international travel.

“With restricted travel, we’re seeing that a lot of locals and interstate buyers are looking more towards lifestyle assets; upgrading to larger homes, those with tennis courts and other recreation,” Mr Kollosche said.

“Beachfront properties, riverfront properties, large pontoons for boating and jetskis and other recreational amenities have become quite popular so we’re seeing a trend there amongst buyers at the moment.”

The ball is now in the buyer’s court for a number of upcoming prestige tennis court homes for sale, including Casa Del Sol at 159 The Panorama Tallai, which goes to auction on Saturday.

Owner Tracey Welten said times spent on-court have been a highlight for her family since purchasing the sprawling six-bedroom Spanish-style hinterland mansion in 2019.

Mrs Welten and her builder husband Brad, both avid tennis fans, have hosted many social matches as well as weekly family games.

“It was amazing to find a house with a tennis court so our children could learn to play too,” Mrs Welten said.

“We introduced Tuesday tennis and taco night so it’s a bit of fun for us as a family every week as we try to get the kids into the game and teach them about the etiquette of tennis.

“My husband and I both really like to have a good bash. When the kids leave the court it’s game on,” she said.

She said her daughter, Sunny, 10, and son, Bentley, 8, had both improved their technique playing at home, while 3-year-old Harvey acted as ball boy and even the family dog joined in retrieving balls.

Marketing agent Nicky Cunningham, of Harcourts Broadbeach-Mermaid Waters, said the recently refurbished tennis court had attracted interest from several potential buyers identifying the recreational asset as a must-have.

And at Carrara, Australian V8 Supercar driver Paul Weel’s purple tennis court makes a striking statement at his unique, sports-themed mega-mansion for sale for $11.95m.

The architect-designed riverfront property at 14 Maryland Avenue is in good company, with two other luxury abodes in the same prestigious street also on the market — 2 Maryland, with a price tag of $6.75m, and 23 Maryland, for $4.5m.

Nationwide, 23 per cent of super-prime residential sales last year were homes with a tennis court, with these properties commanding an average price of $18m in 2020; 22 per cent higher than those without tennis courts.

Source