Paved in gold: Metropolis’s richest streets revealed

A Virginia Ave mansion owned by pharmacy chain founder Don Gardiner and his spouse Colleen for 30 years is in the marketplace

Brisbane richlisters are spending as much as $7m to safe a house on the town’s most unique avenue, as recent information reveals the highest 10 addresses attracting the wealthiest consumers.

An evaluation from Ray White Group exhibits Brisbane’s richest streets are concentrated within the inner-city suburbs, led by Macquarie St in Teneriffe.

In response to PropTrack, the median value for a property in Teneriffe is at present $4.105m — a ten per cent leap from final 12 months — however the median value for a property on Macquarie St is a cool $6.5m.

This 12 months’s largest gross sales have been even increased, with a classy three-level home with a pool on Macquarie St situated subsequent to one of many iconic Woolstore buildings offered for a whopping $7m.

35 Macquarie St, Teneriffe offered for $7m in April 2024

Subsequent was Virginia Ave, Hawthorne, at $4.905m, then Quay St, Bulimba ($4.825m) and Teneriffe Dr, Teneriffe ($4.775m).

4 different inner-city streets had been among the many prime ten — Laidlaw Pde, East Brisbane; Aaron Ave, Hawthorne; View St, Paddington; and Hillside Cres and Parkside Ct in Hamilton.

Ivy St in leafy Indooroopilly was the one avenue outdoors of that well-heeled precinct to make the lower with a $4.69m buy-in.

Macquarie St householders Simon and Rose Palmer’s prime flooring residence is perched above the town’s greatest avenue.

The Palmers are taking their renovated three-bedroom unit within the Ansonia Woolstore constructing at 304/64 Macquarie Road, Teneriffe to public sale on Thursday.

Simon and Rose Palmer of their Woolstore residence, Teneriffe. Image: Liam Kidston

Options together with polished hardwood flooring, authentic timber beams and uncovered brickwork, in addition to a modern designer kitchen.

Advertising and marketing agent Dimitri Cassidy, of Ray White New Farm, stated the riverside space was extremely wanted by younger professionals and households.

“Everybody is aware of how iconic the Teneriffe woolstores are, however not everybody will get the possibility to know what it’s wish to stay in a single,” Mr Cassidy stated.

He stated Teneriffe provided a mixture of heritage character with a classy village ambiance favoured by the 30-something style set, with native cafes and bars in addition to the Gasworks Plaza and James St precinct.

The Palmers’ woostore residence goes to public sale on Thursday. Image: Liam Kidston

Simply over the river on Virginia Ave, the very best recorded sale was $15m in 2021 for a glamorous Eighties-built mansion owned by physician and board sport designer Peter Hawes. The sprawling property with a tennis courtroom, pontoon and spectacular river views offered to ophthalmic surgeon Graham Hay-Smith and his spouse Peggy Ekeledo-Smith.

Each gross sales got here in below the Brisbane report of $23m, set in November with the off-market sale of a historic Ascot house as soon as owned by Ray White Group chairman Brian White. It was on Sutherland Ave – which was lacking from the highest ten streets listing.

Place Property Brokers managing director Sarah Hackett stated surging costs mirrored the shortage of blue-chip riverfront properties, which had been restricted in quantity and tightly held.

Riverfront is the widespread issue amongst Brisbane’s prime streets

“The plain parallel between these streets is the riverfront,” Ms Hackett stated.

“The block sizes are a lot bigger on Virginia Ave and provide fabulous metropolis views, whereas on Macquarie St you get up with the easterly morning signal to impeccable views down the river.”

She anticipated value progress to proceed into 2025, with the world nonetheless providing distinctive worth in comparison with Sydney’s waterfront.

“If you happen to have a look at provide and demand, simply 0.28 per cent of the entire gross sales between 2023 and 2024 had been riverfront. There’s solely so many of those houses and riverfront actual property is arguably the town’s strongest rising commodity proper now,” Ms Hackett stated.

She stated a number of $10m-plus presents had been obtained for her present Virginia Ave itemizing, a mansion owned by pharmacy chain founder Don Gardiner and his spouse Colleen for 30 years.

Place Property Brokers managing director Sarah Hackett

On the reverse finish of the size, the ground was set in Golf Hyperlinks Rd, Rocklea, the place the everyday home value of $350,000 was effectively under the citywide median of $868,000.

4 streets in Fitzgibbon had buy-ins below $500,00 – Wollemi Lne, Cocoparra Pl, Cygnet St, and Beagle St, together with Elmes St In Rocklea, whereas the median value in Wedgetail and Crater Sts, Inala, was simply over.

However the rising value of residing is placing upward stress on these once-affordable areas, as consumers priced out of surrounding suburbs compete for entry-level priced properties.

A two-bedroom townhouse on Golf Hyperlinks Rd, Rocklea simply offered for $450,000, with home costs within the suburb up 31.1 per cent up to now 12 months to $681,1441.

8 Wollemi Lane, Fitzgibbon offered for $425,000 in June 2024

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Advertising and marketing agent Nick Kruger, of Your Haven Realty, stated native costs had soared since 2023, with the Golf Hyperlinks Rd property notably wanted for its current renovation utilising flood-resilient supplies.

“The leap in costs within the final 12 months has been unbelievable,” Mr Kruger stated, including he offered a townhouse not too long ago for $100,000 greater than the neighbouring property, which modified fingers the earlier 12 months.

“It’s not often buyers shopping for now as a result of they aren’t seeking to pay the cash that owner-occupiers are. Most people who had been curious about these townhouses had been first or second-home consumers, or downsizers.”