Southern capitals aren’t the only ones with big property markets

first_imgThis Harbour Rd, Hamilton home sold for $11.8 millionSOUTHERN property powerhouses Sydney and Melbourne may think they’ve got the big real estate deals covered, but Brisbane is not without its fair share of record breaking sales.Although those that breach the $10 million mark may not be as common here as in the other capital cities, agents believe some of recent big hitters have now helped buyers breach an imaginary barrier and more properties will sell for above that level.Brisbane’s biggest ever residential house sale was chalked up in 2014, when a company associated with mining magnate Gina Rinehart bought a home at Aaron Ave, Hawthorne for $14 million.Before that the record had been held since 2007 by a home at Eldernell Tce Hamilton.That home, which was once known as Eldernell, then became Bishopsbourne when it housed the Anglican Archbishop of Brisbane, has more recently been known as Farsley.The historic property which was built in 1869 and sold in 2007 for $11.2 million.The sale of Consolidated Properties head, Don O’Rorke’s, home at Harbour Rd, Hamilton in April 2015, also put it in the top five residential house sales ever. The home and adjoining land sold for $11.8 million.Next in the top five was another recent sale at St Lucia. The home at Swann Road, St Lucia changed hands in May 2015 for $11.125 million.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor9 hours agoThe home, which was known as the Pink Palace, was bought by developer Sunland with plans for luxury residences.It had fallen into disrepair in recent years but its setting on 14 residential block made it very appealing to developers.It was built by well-known Brisbane builder Noel Kratzmann in the late 1980s, and was more recently in the news before its sale when its former owner, socialite Cindy Fleming died of an asthma attack.The sale in December for $10.5 million of a home in Welsby St, New Farm to Vita Group chief executive Maxine Horne was the biggest deal last year and rounding out the top five residential house sales ever was a home at Sykes St, Ascot which changed hands in February 2015 for $10.4 million to a resident of Switzerland.Place managing director Damian Hackett said there were plenty of properties in Brisbane that could sell for above those prices, but they had hadn’t been offered to the market in recent years.“A number of properties that exist in Brisbane have cost a lot more, in that $10 million to $20 million bracket to get there,’’ he said.“People have bought land and built properties but they have never transacted.’’Mr Hackett predicted the bigger sales would become more common place in Brisbane.last_img

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