Waterfront Brisbane home makes late run to take out Brisbane's most expensive sale of 2013

The sale of a waterfront property in Brisbane’s inner east has reached the record price for a Brisbane residence in 2013.

Negotiated by Place, the Hawthorne property sold through an extensive campaign, with tenders received by international and local investors.

The six bedroom home was completed on a 1,654 square metre block in 2008. With three storeys, it includes five bathrooms, a pool, a designated media room and a six-car garage with lift access. The riverfront property at 114 Virginia Avenue also features a boat shed and patio.

{qtube vid:=TX5PIRRPdMU}

According to Place chief executive Damien Hackett, there was significant movement in Brisbane’s residential market last year.

“We saw great strength in the market over the last few months of the year, which has continued into 2014, with properties selling quickly as confidence markedly improves amongst both buyers and sellers,” he said.

“The sub-$1 million price bracket led the way in Brisbane’s regaining strength, but we have also seen a significant improvement in the top end, which started towards the end of 2013.”

Hackett says that the city’s prestige market had a stronger performance than expected, with the $7.5 million Virginia Avenue sale one of four properties that sold for more than $4 million each in a single week in December. He noted that the market for top end properties is generally linked to activity in the stock market.

“As long as the stock market keeps performing it will be positive for the higher end of the property market,” he said.

jrichardson@propertyobserver.com.au