first_img91 McConnell St, Bulimba sold at auction for $3.2 million.The report found the majority of luxury sales were properties which were along the Brisbane River or close to the Brisbane CBD.Recent sales include a riverfront home at McConnell St, Bulimba, which sold under the hammer for $3.2 million.The five-bedroom home has 18 metres of river frontage and is on a 751sq m block. It has a private jetty.Newstead was the suburb which chalked up the most luxury apartment sales during the period with six selling for more than $3 million and an average sale price of $4,160,333 for the suburb.“Luxury apartment sales have been steadily increasing since the trough of 2012,’’ the report said. Place Estate Agents managing director, Sarah Hackett, said there was a shortage of high end stock at the moment, which was driving up competition and prices across the Brisbane prestige market.“High-end properties aren’t staying on the market for long because buyers are concerned they’ll miss out,’’ he said.“So, while we’re seeing a decrease in the number of high-end sales, sale prices and suburb averages remain strong.”More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours ago“Brisbane’s prestige market is experiencing an influx of interest from expats moving back to Australia, with an increased interest in the southeast Queensland lifestyle.” Average sale price in Brisbane’s top luxury suburbs New Farm – 8 sales – $4,265,000Ascot – 7 sales – $3,864,286Indooroopilly – 7 sales – $3,239,429Newstead – 6 sales – $4,160,333Hamilton – 6 sales – $4,486,417Teneriffe – 5 sales – $4,037,200South Brisbane – 5 sales – $3,558,230Hawthorne – 4 sales – $5,472,500Yeronga – 4 sales – $3,785,500Sherwood – 3 sales – $3,200,000Kangaroo Point – 3 sales – $4,131,667Bulimba – 3 sales – $3,713,333Clayfield – 3 sales – $3,890,000 91 McConnell St, Bulimba.BRISBANE continues to chalk up the big deals with a new report revelling more than 90 sales for more than $3 million.The latest Place Advisory report on the luxury market revealed 66 homes and 25 apartments sold for more than $3 million in the twelve months to June.While New Farm accounted for the highest number of sales – eight in the past year – Hawthorne had the highest average sale price of $5,472,500.Despite the good results the Place Advisory report said both luxury house and unit average prices had remained fairly flat during the past ten years although sales numbers each year had steadily risen. RIVERFRONT reno gets top dollar In the 12 months to June the average price for houses dropped 4.5 per cent to $3,984,507 while apartments increased by about 9 per cent for the same period to $4,123,126. last_img

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