On the waterfront

MAY 2010

MORE than $113.5 million worth of waterfront Brisbane properties were sold last year, including record highs in St Lucia and Fig Tree Pocket.

Johnston Dixon’s 2010 River Report has shown that absolute riverfront home sales rose 28 per cent in 2009, while quantity of properties sold rose 13.8 per cent. But the average price fell 19 per cent from $2.49 million to $2.01 million.

Director Josephine Johnston-Rowell says the price increase is still below the highs of 2007, but there were a few stand-out sales last year.

“Four riverfront homes fetched more than $7 million for the first time ever in one calendar year, including a new record price of $9.5 million, which was paid for a home in one of the city’s most prestigious enclaves, Needham Street in Fig Tree Pocket,” she says.

“A home in Sandford Street at St Lucia also set a new benchmark auction price, selling for $7.75 million.”

The star sales performer was Norman Park at $22.815 million, followed by Chelmer with $15.16 million in sales.

“We have already noticed a marked turnaround in confidence since the start of the year, with a significant increase in enquiries from buyers,” says Johnston-Rowell.

“We are also seeing an increase in listings which combined should translate to renewed momentum across the entire riverfront property sector.”

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

How communications technology can raise the bar on customer service, employee experience
Partner Content
From capturing feedback early to providing messages with a higher rate of cut-through, ...
Advertisement

Related Stories

Hard seltzer start-up enters non-alcoholic market with launch of Fellr Free

Hard seltzer start-up enters non-alcoholic market with launch of Fellr Free

Alcoholic pre-mix brand Fellr is expanding its core range of produc...

The co-founder question: Do you need one, and how do you find someone?

The co-founder question: Do you need one, and how do you find someone?

I’ve played beach volleyball for Australia for the last decad...

EML Payments awarded $320m government contract to help stimulate the Spanish arts sector

EML Payments awarded $320m government contract to help stimulate the Spanish arts sector

Global payment solutions business EML Payments (ASX: EML) will play...

Microbio goes public as med-tech tackles condition that causes 11 million deaths per year

Microbio goes public as med-tech tackles condition that causes 11 million deaths per year

Brisbane-based medical technology company Microbio has stepped...