A spacious riverside apartment in Brisbane’s popular suburb of New Farm has sold for an impressive $4,810,000, showing confidence in Queensland’s real estate market is still high.
The luxury property, which has glorious sweeping views of the Brisbane River, was purchased by a local buyer despite receiving significant interest from further afield.
McGrath real estate agent, Brett Greensill, spoke to OzHomeNews about the sale and also gave his thoughts on the impact of the border closure to residents from Greater Sydney.
“We had multiple written offers on the property, and it was sold to a local buyer who had confidence in the local market,” Mr Greensill said.
“It was a good campaign, beautifully presented and the vendors did everything right,” he said.
The four-bedroom property, at 3511/30 Hollins Crescent, is part of the prestigious Cutters Landing development and, despite the challenging times, almost achieved a record for the boutique complex.
“The record for all of Cutters Landing is $4.9 million and the next biggest sale is $4.4 million, so the sale price of this property is very close to that record price which is a really good result,” said Mr Greensill.
The new owner of the waterfront worldie is a downsizer, which as Mr Greensill explained, seems to be somewhat of a trend at the moment.
“The buyer is downsizing to the apartment which is an interesting coincidence because the people that were selling were downsizing to another apartment themselves, so it was similar circumstances for both cases,” he said.
And after receiving interstate interest on this property, Mr Greensill isn’t too concerned that the border ban with Sydney will affect Brisbane’s real estate industry too much.
“We’ll work around anything, that’s the nature of real estate, we work with whatever circumstances are in front of us so we have to be adaptable,” he said.
“Sydney buyers are a significant part of our interstate market, and if that is temporarily paused, it will undoubtedly have an effect, but it’s not going to last forever and these people will come back,” Mr Greensill explained.
The sale of this wonderful property follows the impressive $7,350,000 sale of a riverfront penthouse, also sold by Mr Greensill earlier this month.