Luxury and water still a potent mix

The holiday home property wave has broken but, for the time being at least, living on millionaires' row means there won't be a wipeout. While other beach house sales flounder, luxury home markets in locations such as the Gold Coast, Portsea and Margaret River have powered into 2006. In those markets, multi-million-dollar houses and apartments are selling strongly while other agents complain of their worst lead up to Christmas in a decade.

On the Gold Coast, PRDnationwide agent Doug Green sold three luxury homes for more than $13 million in less than three weeks in the lead up to Christmas.

One of those was the Surfers Paradise riverfront residence of the late Brian and Kathy Ray, who died last year in an aircraft accident in the Victorian snowfields.

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