On the waterfront

Written on the 1 February 2011

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.”


Latest News

WOOLWORTHS CLAIMS LEGAL VICTORY IN STOUSH WITH LOWE'S

SUPERMARKET giant Woolworths (ASX: WOW) has been given the go-ahead to sell its Masters property assets after winn...

DOMINO'S PIZZA EMPLOYEES OFFERED A SLICE OF THE PIE

DOMINO'S Pizza (ASX: DMP) has launched an employee share acquisition plan which will give its 26,000 staff the...

PRICELINE STORE ROLLOUT BOOSTS API'S FULL YEAR PROFIT FORECAST

Australian Pharmaceutical Industries (ASX: API) has booked a rise in half year net profit of $29.1 million on the bac...

CITY DWELLERS SETTING EYES ON REDCLIFFE AS PROPERTY SEACHANGE BECKONS

IT MAY be cool by the sea at Redcliffe, however strong sales at Kyko Group's Mon Komo development prove that t...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter