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

VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver ...

KOGAN BREAKS FORECASTS IN ITS FIRST YEAR OF PUBLICLY LISTED TRADE

RAISING the bar high in its first year as a publicly listed company, Kogan.com (ASX: KGN) has smashed its forecast...

CAMPLIFY MOTORS INTO THE UK MARKET

CARAVAN hire and RV sharing community Camplify has made its move in the European market, establishing its first op...

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter