A year ago, mining magnate Gina Rinehart’s purchase of a $14 million property in Aaron Avenue, Hawthorne, set a new record for Brisbane and for riverfront real estate. The ensuing 12 months have seen plenty of high-end properties change hands as confidence has returned to the region.
“It’s been a spectacular year for the upper end of the market,” says Jason Adcock, of Adcock Prestige.
“The dearest houses ever sold on the river have sold over the last year, which is an absolute sign that we are forging ahead.”
Prestige Property: 20 Scott Street, Hawthorne
20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne.20 Scott Street, Hawthorne. Adcock says there has been a steady supply of riverfront listings, with up to three parties competing for each one. An emerging trend is an influx of buyers from China, whom Adcock says comprise about 30 per cent of his business.
In another sign of buoyancy at the top end, concerns over a repeat of the
2011 floods have eased on the back of the class action taken out by flood victims against the state.
The case is based on the premise that the floods were less natural disaster and more human error and would not have occurred had the Wivenhoe Dam been operated “to the standard expected of a reasonably competent dam operator”.
Dixon agent Patrick Dixon says there’s no doubt people’s memories of the floods have softened considerably, and Michael Clarke of Ray White Bulimba agrees.
“We’ve definitely seen an improvement [in the market] since the floods,” says Clarke. “The change really came in late last year; people have now forgiven the river.”
Clarke says there is enough stock on the market to meet demand, with buyers mostly local businesspeople.
According to data from Domain Group, the best riverfront suburb performers in recent years include Bulimba, with 41.9 per cent price growth in the five years to September and a median price of $1.1 million; New Farm, with price growth of 38.3 per cent over the same period and a median price of $1,092,500; and Fairfield, with price growth of 21.5 per cent and a median of $615,000.
Dixon says there is good growth still to come.
“The bottom end of the market has been very strong while the top end was plateauing, but with Sydney and Melbourne going up dramatically in the last couple of years, the perception is the market here is going to rise,” he says. “Inquiry and interest has been very good over the last couple of months.”
1 Ivy Street, Indooroopilly $3,125,000
Perched high above the river with an innovative serpentine floor plan, this contemporary
riverfront home enjoys views stretching from the Walter Taylor Bridge to the Indooroopilly Reach of the river. A large, covered terrace overlooking the pool doubles as a viewing deck. Inside there is a selection of casual and formal living spaces, including a large lounge room with feature fireplace. The stone-topped kitchen comes with Miele appliances, while the master suite occupies its own level and has a large walk-in wardrobe, a full en suite and a balcony.
Adcock Prestige: 0418 727 788
20 Scott Street, Hawthorne About $5.5 million
Boasting views across the river to the Brisbane city skyline, this modern home comes with a riverfront pontoon ideal for the boating enthusiast. When you’re not out on the water, you can enjoy the swimming pool with waterside bar or the soundproof home theatre with starburst ceiling.
A marble kitchen has Gaggenau and Liebherr appliances and overlooks family living and dining spaces which open onto an enclosed balcony. The four en suite bedrooms are upstairs and include a huge master suite with balcony and custom-fitted walk-in wardrobe.
Ray White Bulimba: 0419 799 697
39 Ivy Street, Indooroopilly
$4 million +
You have until November 18 to submit a tender for this striking home, designed by internationally acclaimed architects Fearon Hay.
Three years young on a 1039-square-metre riverfront holding, the five-bedroom, three-bathroom property showcases concrete walls, tallowwood cladding, folded zinc parapets and vast expanses of glass soaking up the river views.
Features include a glamorous marble kitchen and spectacular marble fireplace, a swimming pool and a jetty with pontoon.
Dixon Family Estate Agents: 0414 817 817
77 Longman Terrace, Chelmer $3 million +
Complete with boat house and boat ramp, this gorgeous Queenslander is set within well-established gardens featuring a family-sized pool and poolside pavilion. Beautifully renovated while retaining classic features, the home has a vast lounge room with wrap-around verandah making the most of the river views. A central kitchen has wine storage and a breakfast bar and adjoins a north-facing dining zone. A media room and a study completes the lower level accommodation. Upstairs there are five bedrooms, two with balcony access and the master with an abundance of built-in storage and an en suite.
Johnston Dixon: 0414 233 575