- Brisbane's prestige property market is described as having "come of age" this year
- 38 property transactions have been recorded between $5M and $20M
- Indooroopilly, Ascot and Kangaroo Point are recurring suburbs on the list
Brisbane’s prestige property market has been described as having “come of age” this year.
PS Property Advisory senior buyers’ agent, Scott McGeever, believes the sheer quantity of high-end transactions in the year is just one of the elements that make it a significant year for the sector.
“One of the most striking elements is that far more Brisbane locals are purchasing at this price level,” Mr McGeever said.
“High-end prestige is no longer just within the realm of interstate, expat and foreign national buyers in Brisbane.”
In 2019 Brisbane recorded 11 properties sold between $5 million and $20 million. In the same bracket that number doubled in 2020 according to Mr McGeever.
In 2021 to date Mr McGeever said a staggering 38 transactions have been recorded.
Increased transactions in the high-end price point are in line with exploding property prices across the state.
“Our Brisbane high-end prestige market has traditionally been ruled by buyers from across the border, as well as returning expats or foreign nationals.
“But locals are now increasingly meeting the market. They’ve grown accustomed to this new upper-level price point and have become a competitive force in ultra-luxe real estate.”
Indooroopilly – $12 million
Marking a record sale for Indooroopilly, the 6020 square metre property sold for $12 million in November 2021. The home boasts a Balinese inspired garden and interior design along with a tennis court and pavilion.
Tennyson – $12.5 million
Featuring a 12-seat cinema, tennis court, pool, wine bar, office and gymnasium this luxurious riverside home sold for $12.5 million in November this year.
Hamilton – $12 million
Sold in March 2021, this Shaun Lockyer designed renovation fetched $12 million. This desirable home features wrap-around pool views, a three-level main house and a detached second residence.
Kangaroo Point – $12.75 million
Known as the Lamb House, this historic listing offers picturesque city views from its riverside perch on the Kangaroo Point cliffs. In dire need of some TLC, this home was bought by two Brisbane locals who intend on spending several million on renovations.
Ascot – $11.75 million
This 1920s Queenslander home boasts a pool, tennis court and beautifully manicured grounds. The Ascot house was sold in May for $11.75 million.
Kangaroo Point – $15 million
In 2017 this home held the title of Brisbane’s most expensive home when it sold for $18,488,888, this year it fetched $15 million. This luxury home boasts some of the city’s best views along with a wine cellar, tasting room, gym, steam room and cinema.
Ascot – $10 million
Located on a 3035 square metre site in Ascot, this 1930 sold under contract for $10 million on the market this year. The Queenslander features a tennis court, cricket pitch, swimming pool and gardens. Its previous owner was Ray White Joint Chairman, Brian White.
~~
Before making any property-related decisions, please do your own independent research, taking into account your own situation. This article does not purport to provide financial or investment advice. See our Terms of Use.
