Multi-million dollar mansion market on fire in Brisbane as sales surge

first_img24 Palm Ave, Ascot, QLD sold for $8.3M. Picture: SuppliedHamish Bowman of Ray White New Farm, who sold 24 Palm Avenue, Ascot for $8.3m along with colleague Matt Lancashire, said the seller was downsizing to a $5m-plus home with a “finite window” for an offmarket sale. “That deal was done in one weekend,” he said. 87 Brisbane Corso, Fairfield, sold for $3.5m on March 3, 2017. Picture: BRISBANE Top 10 2017 (known sales so far): 1 Leopard St, Kangaroo Point $18,480,000 NEW BRISBANE RECORD24 Palm Ave, Ascot $8,300,00012 Aminga St, Fig Tree Pocket $6,000,00020 Scott St, Hawthorne $5,600,000450/1 Newstead Tce, Newstead $5,662,00037 Macquarie St Teneriffe $5.1m58 Retreat St, Bridgeman Downs $4,960,000104 Rome St Yeronga $3,655,00084 Woodville St, Hendra $3,500,00087 Brisbane Corso, Fairfield $3,500,000 (Source: 20 Scott St, Hawthorne. Picture: SuppliedMore from newsMould, age, not enough to stop 17 bidders fighting for this home6 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agoJack Dixon of Dixon Family Estate Agents, whose most recent $2m-plus sale was 25 Mandalay St, Fig Tree Pocket, said sales were not confined to a small area but spread across Brisbane from suburbs like New Farm and West End through to Indooroopilly and “a little bit further out”.New record suburb sales were being achieved every month, said Sarah Hackett of Place Property Agents. “The high-end and, in particular, riverfront homes for sale are extremely limited. In this market where demand is strong, we are achieving many sales off market – matching highly qualified buyers to suitable homes where the buyer will pay exactly what the seller is asking.” 1 Leopard St Kangaroo Point has sold for $18MBRISBANE’S multi-million dollar property market is on fire with a surge in high-end sales – and it’s not just in the inner-city, latest analysis shows.Homes that could not sell two to three years ago were now seeing multiple offers, while others like Brisbane’s second most expensive property this year were sealed within 48 hours without even hitting the market.center_img 12 Aminga St, Fig Tree Pocket, sold for $6m. Picture: SuppliedJason Adcock of Adcock Prestige, who sold the home of Brisbane richlister Bevan Slattery for $6m in February, said the luxury market was the best he’d seen here.“It’s on fire. It’s the best prestige market I’ve seen in a decade. It’s similar to 2007 except there are more high end sales transacting than back then … I think we’ve got at least another 18 months to two years to go at the prestige end of the market.”The surge has seen the Brisbane record price shattered to the tune of $4m with the top 40 known sales this year topped by 1 Leopard St, Kangaroo Point, at $18.48m. 450/1 Newstead Terrace, Newstead. Picture:’s Michael Brandon, who runs a weekly list of top 10 results, said suburbs like Holland Park, Camp Hill, Sunnybank and Runcorn were also making the cut.“When I first started the list, you would be lucky to get a sale over $1.5m, and certainly in the last six months the average of the top 10 each week is probably about the $2m mark.”Brett Greensill of LJ Hooker New Farm said confidence was contagious with homes that failed to sell two to three years ago now seeing multiple offers.“Right now we’ve got a couple of deals in the $5m mark that haven’t gone unconditional yet. In that range now we often have multiple buyers for these properties and that’s new.”last_img

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