Revealed: The secret buyers behind Qld's 40 biggest home sales of the year
Courier Mail
Elizabeth Tilley
25 June, 2023
It will be remembered as the year Brisbane broke new ground in its quest to become a global property powerhouse, with never-before-seen prices achieved for real estate as the country’s ultra-rich swooped on the city.
Short supply and ‘play money’ from eager cash buyers in the billionaires’ club is continuing to drive the sale of prestige property, despite 10 interest rate rises, soaring construction costs, and an increase in the cost of living.
Both Brisbane’s house and apartment records were smashed in the 2023 financial year, and the top 40 sales across the state were all above $8m — totalling a combined $562m.
The big spending buyers include the boss of Domino’s Pizza, a yoghurt magnate, a socialite, the founder of F45, and a craft beer brewer.
After a short correction in the latter half of last year, the housing market bounced back with a bang at the start of 2023, with a riverfront penthouse in New Farm selling for a new all-time high price of $16.52m.
That sale created a ripple effect that resulted in a string of unprecedented apartment sales over $12m, with the square metre price of off-the-plan sales soaring to a record of almost $35,000/sqm.
A few months later an elusive $20m house price ceiling was shattered when a historic riverfront home at 101 Welsby St, New Farm, fetched $20.5m.
Matt Lancashire of Ray White The Collective, who negotiated the sale, settled $275m worth of residential sales this financial year.
“Brisbane is where it’s at,” Mr Lancashire said. “The top end of Brisbane has held up stronger than we would have ever anticipated.
“Of the 6023 buyers we met during the past 12 months, 50 per cent were local while the remainder were based interstate or overseas, which is hardly surprising given data shows Queensland is experiencing the largest net crossborder increase of any state or territory.”
Simon Caulfield of Place Estate Agents, who negotiated a number of Brisbane’s biggest apartment sales this year, said he had noticed a significant change in the market in the past six months.
.“Demand for Brisbane’s ultra-luxury market is at an all-time high, where $10m is no longer the ceiling price,” Mr Caulfield said.
“We’ve obviously seen a significant shift in what buyers are prepared to invest in for their own principal place of residence and there’s no longer this fear or concern around overcapitalising.”
Amir Mian of Amir Prestige Group, who negotiated the Gold Coast’s biggest sale of the financial year, said he had never been busier.
“There are so many people moving up here,” Mr Mian said. “There’s so much appetite for our beautiful beaches, our beautiful hinterland, our beautiful boating lifestyle, our beautiful golfing lifestyle.”
15. ‘Moray House’ penthouse, 65 Moray St, New Farm
Sale price: $15.75m
Seller: Spyre Group
Buyer: Louis Zenonos
The penthouse in Spyre Group’s ‘Moray House’ fetched $15.75m off-the-plan in January when it was snapped up by local developer, Louis Zenonos.
The cheapest apartment in the boutique development recently sold for $9m.
17. ‘Arc Residences’ penthouse, Toowong
Sale price: $13.6m
Seller: Spyre Group
Buyer: Undisclosed
The sky mansion in this yet-to-be-built unit tower in Brisbane’s west sold off-the-plan for a new internal record square metre price of almost $35,000 in March.
A family from the western suburbs wanting to live closer to Brisbane Boy’s College splashed $13.6m on the two-level penthouse, which features five bedrooms, 180-degree views, and its own wellness spa.
