What's Brisbane's best view worth?
A riverfront penthouse boasting Brisbane's best view has sold for $2,425,000 ahead of the deadline of its marketing campaign.
With unobstructed, eye-level views across Brisbane River to the Story Bridge and CBD, offers were invited for the four-bedroom Moray Street apartment up until 5pm on Monday March 26.
However, a buyer who was attune to the competition for superbly positioned riverfront properties was determined to trounce their competitors, submitting an unbeatable offer over the weekend with favourable purchase conditions.
"The buyer’s eagerness is representative of the demand for prestige inner-city riverfront property in Brisbane," said LJ Hooker New Farm's Brett Greensill, LJ Hooker's top Queensland agent over the last 12 months. "It's a trend we've noticed which has continued to rise over the last six months.
"The ninth-floor apartment's bridge, river and city views were simply unmatched and celebrated through its six balconies. But it wasn't simply the vista that attracted interest - it offered 306sqm of living including three bathrooms, and access to superb apartment amenities in the highly-regarded River Manor complex."
CoreLogic data to the end of December showed New Farm apartments had grown a modest 2.7% to a median price of $575,000. However, Mr Greensill said the suburb’s apartment market encompassed a wide spectrum.
"New Farm’s established investor apartment market has been affected by the volume of newly built apartment stock throughout the inner-city," he said.
"However, prestige, river facing apartments continue to attract premium offers from owner-occupants.
"There's many pieces to the apartment puzzle in New Farm at the moment and we’re receiving significant enquiry from owners wanting to know exactly where they are placed in terms of market value.
"In the 20 years I’ve been selling in New Farm, the breadth of prices being paid is probably as wide as I've seen."