Things are looking good for the top end of the residential market right now and it all trickles down to investors across the spectrum! We’re talking serious prestige properties across Australia, where forking out millions is not a problem and bargain-hunting is the least of the buyer’s concerns. In Brisbane, we have the strange situation of a queue of buyers looking for properties at around five million dollars without there actually being enough prestige properties coming onto the market to fulfill that need!
Potential investors can become frustrated with the more conservative approach of high end construction in our city, although there have been a couple of developments, such as Tom Dooley’s Aquila project, in which units have been fetching between five and six million. This might herald the way for more of such projects which would meet a real and serious demand for prestigious homes from buyers who have the cash and know exactly what they want. Otherwise there is concern that investors will flock to the Gold Coast instead… But at least I can report that one buyer is happy with a heritage house in Paddington with six bedrooms, a tennis court, pool, gym and croquet court, that cost ten million dollars!
If you want to learn more about the kind of ultimately luxurious, exquisite, no-expenses spared properties that house submarine doors to basement cellars to protect the grange from flood, and turntables in car parks for easy batman exits… go to this link to check out the latest Herron Todd White report.