The most expensive home sales in southeast Queensland this financial year

Elizabeth tilley | 28 June 2019

FROM waterfront mansions in glamorous locations to prime development sites, these are the most expensive homes sold in southeast Queensland this financial year.

Despite a horror 12 months plagued by the banking royal commission and uncertainty in the lead-up to the federal election, the state corner’s prestige property market still managed to record some impressive home sales.

Using data from Realestate.com.au and CoreLogic,The Courier-Mail has compiled a list of the top 20 reported sales in 2018/19, and the result is a mixed bag.

This property at 2 Belmore Tce, Sunshine Beach, was the most expensive home reported sold in Queensland’s southeast in 2018/19.
Sunshine Beach had the most expensive recorded home sale in 2018/19.

It comes as a prestige property drought is creating a buyer’s market in Brisbane, with a renewed sense of urgency and a shortage of top end homes set to drive up prices in the new financial year.

The biggest residential home sale of 2018/19 in the southeast was an oceanfront property at 2 Belmore Tce, Sunshine Beach, which sold for $14 million to an interstate buyer before it even had a chance to hit the open market.

The view from the property at 2 Belmore Tce, Sunshine Beach, which sold for $14m.

Tom Offermann Real Estate principal Tom Offermann, who negotiated the sale of the property, said he and colleague Nic Hunter invited an interstate buyer to have a preview inspection. “They flew up and signed an unconditional contract on the spot,” Mr Offermann said.

The second biggest sale was on the Gold Coast, in the so-called “millionaire’s row” of Hedges Ave.

Clive Palmer forked out a cool $12 million for a beachfront mansion with five bedrooms, a gym, a wine cellar, a lift and a lap pool at 9 Hedges Ave.

This home at 9 Hedges Ave, Mermaid Beach, sold to Clive Palmer for $12m.

The view from the Hedges Ave home.

Realestate.com.au chief economist Nerida Conisbee said the top sales reflected an appetite from buyers for a beach or waterfront lifestyle.

“They’re very Gold Coast and Sunshine Coast focused,” Ms Conisbee said.

The inner Brisbane suburb of New Farm has also had a bumper year, with two riverfront properties with scope for development selling for big sums.

Ms Conisbee said New Farm was third most in-demand suburb in Queensland in the past six months.

“We’re finding in Brisbane, Sydney and Melbourne, there’s a real flight to quality (properties),” she said.

A 941 sqm riverfront block of land with development approval to remove the existing house at 31-33 Maxwell St, New Farm, changed hands for $8.5 million in August last year.

This property at 31-13 Maxwell St, New Farm, sold for $8.5m.

An aerial view of the property with the house removed.

And another riverfront property at 39 Griffith St, New Farm, sold for $7.75 million to the Seymour family.

With his grandfather and one of Queensland’s best-known developers, Kevin Seymour, on the phone, Ben Seymour made the winning bid on auction day in March — breaking the Brisbane record for the most expensive house ever sold under the hammer.

The Seymour Group plans to build a luxury, residential development on the site.

The view from the private jetty at 39 Griffith St, New Farm.

Ben Seymour and Kevin Seymour at 39 Griffith St, New Farm. Image: AAP/Attila Csaszar.

Ray White New Farm principal Matt Lancashire, who marketed both New Farm properties, said he believed large parcels of land close to the city would always appreciate in value.

“I think Brisbane is targeted in the next three to five years to see some significant growth,” Mr Lancashire said.

“With all the infrastructure that’s going in, all of the urban renewal that’s happening, Brisbane is a really affordable, liveable city.

This house at 45 Witta Circle, Noosa Heads, sold for $8m. Picture: realestate.com.au

“I deal with a lot of people from Sydney and Melbourne, as well as expats who are making lifestyle decisions to come back and being affordable is a huge factor for them.”

Mr Lancashire said there had been a surge in buyer activity since the federal election, which had increased competition for what was an already tight market with limited stock.

“Since the election, we’ve seen a 30 per cent increase (in online) inquiries and a 10 per cent increase in open for inspection numbers, which is a huge statistic,” he said.

This house at 150 Adelaide Street East, Clayfield, sold for $7m.

Sarah Hackett of Place Estate Agents said the top end of Brisbane’s market was awash with buyers waiting to pounce on prestige properties, but there were not enough to choose from.

“I’ve never seen such a little amount of stock available,” she said.

“We’re seeing multiple offers on properties because there’s not as much to choose from.

“(Properties with) good floorplans conducive to the outdoors, gardens and the river are in demand.”

This property at 8-10 Marseilles Court, Sorrento, sold for $9m.

An aerial shot of 8-10 Marseilles Court, Sorrento.

Mrs Hackett said she had noticed an influx of buyers looking to upgrade since the federal election.

She said she had negotiated three sales above $6 million on the Brisbane River in the past 45 days.

This property at 65 Longman Tce, Chelmer, recently sold for $6.6m.

The view from the property at 146 Virginia Ave, Hawthorne, which recently sold for more than $6m.

They include a five-bedroom home at 65 Longman Tce, Chelmer, a four-bedroom house at 30 Wendell St, Norman Park and another at 146 Virginia Ave, Hawthorne.

“There are more buyers than properties, which is great because it’s been a long time since that happened,” she said.

The most recent big sale to scrape in to the financial year list was a Hamptons-style home on the Gold Coast’s waterfront, which sold for $7 million under the hammer more than a year after it hit the market.

This property at 1A Yacht St, Southport, sold at auction for $7m.

The Southport residence at 1A Yacht St was snapped up in front of about 70 onlookers at auction last weekend.

Property records show several agents have tried their hand at selling the house since it hit the market in March last year.

The home is just as impressive from the back.

This property at 45 Knightsbridge Pde West, Sovereign Islands, sold for $6.98m.

On the Sunshine Coast, the biggest home sales were again in Noosa and Sunshine Beach.

A four-bedroom, four-bathroom, waterfront home at 45 Witta Circle, Noosa Heads, sold for $8 million in November.

The Hamptons-inspired house with a private jetty sold to an expat to use as a holiday home.

There were two big sales in the coveted ‘La Mer’ building on Noosa’s main strip, Hastings Street, with two apartments selling for $7.2 million and $6.1 million each.

This apartment in ‘La Mer’ at 11/37 Hastings St, Noosa Heads, sold for $7.2m.

Motivated by the renewed confidence in the market, Alfio and Alannah Marino have decided to sell their Raby Bay home after 15 years.

The six-bedroom, four-bathroom house at 24 Cayman Crescent is on a 1247 sqm corner block with a 30m water frontage, overlooking the bay.

“I feel it’s probably one of the best times for a long time (to be selling),” Mr Marino said.

“We’re hearing from all different sources that people are coming back out again — buying with more confidence — and the upper end of the market is moving again, and the banks are more confident in starting to lend again.”

Marketing agent Joseph Lordi of Queensland Sotheby’s International Realty said he had noticed an increase in urgency among buyers in recent weeks.

“If buyers find the right home, they’re willing to make a move on it pretty quickly,” Mr Lordi said.

“High income earners seem to have confidence in the current government.”

Mr Lordi said he had received an increase in inquiries from interstate buyers and local buyers looking to upgrade their home or location for lifestyle reasons.

This house at 24 Cayman Crescent, Raby Bay, is for sale.