Brisbane is know as The River City – so we love our river. So just how expensive is it to live on the Brisbane River so you can capture those magic morning views, and is it a good investment?
The 2017 River Report by leading waterfront real estate group Johnston Dixon has highlighted that the total number of existing (eg not off-the plan) Riverfront Apartment sales recorded in Brisbane has increased 8% from 34 to 37 and in total value by almost 14% from $103,146,375 to $117,865,000.
New Farm is the new leading neighbourhood this year, overtaking Newstead as the Brisbane apartment markets top suburb, recording 9 sales with the average price being $3, 250,000. 4 of the 9 sales were in the luxury apartment development, Cutters Landing, 2 were in The Refinery and 1 each in Aquila and Altura on Moray Street and Solitaire in Griffith Street.
Coming in a close second was last year’s leading neighbourhood, Newstead with an average selling price of $3,117,857 from 7 sales, all of these at the Pier Apartments at Waterford. Brisbane CBD took out 3rd spot with a total of 5 sales averaging $3,665,000, 2 in Riparian and 1 each in Skyline, Admiralty Quays and Admiralty Towers 2.
Brisbane CBD also boasted the most expensive sale for 2016 year with the luxury 5 bedrooms, 7 bathroom penthouse in Macrossan Street, which sold for $8,000,000, reportedly to former Prime Minister Kevin Rudd and Therese Rein. Another buyer purchased a 4 bedroom apartment at Pier One in Newstead for $6.2 Million, while $5.7 million was paid for a 392 sqm apartment in the luxury Aquila complex in New Farm.
So, Is Brisbane Riverfront apartments a good investment?
According to Johnston Dixon the Brisbane Riverfront property market is on the rise since the carnage of the 2011 Brisbane floods. Looking at the average price in 2016 compared to 2015, it shows a headline gabbing 13% + growth, which is outstanding considering the overall state of the Brisbane apartment market at the moment.
When looking at mean averages however you always need to be very careful. Waterfront and luxury apartments are prone to distinct variances due to high value but low turnover of the apartments quite easily skewing results. If you look at Hamilton for example, with only 3 sales one would have to be very conservative about making assumptions on the state of the market based on these limit transactions. Give
Having said that, overall the prestige apartment market in Brisbane is robust, and this analysis by Johnston Dixon definitely supports the existing perception that the Brisbane riverfront apartment market continues to strength.
Top Performing Suburbs by Average Premium Apartment Price 2016
| Suburb | Number of Sales | Average Price |
| Brisbane City | 5 | $3,665,000 |
| Hamilton | 3 | $2,516,667 |
| Kangaroo Point | 5 | $3,026,000 |
| New Farm | 9 | $3,250,000 |
| Newstead | 7 | $3,117,857 |
| South Brisbane | 1 | N/A |
| St Lucia | 1 | N/A |
| Teneriffe | 5 | $3,510,000 |
| West End | 1 | N/A |
| Total | 37 | $3,185,540 |
Top Performing Suburbs by Average Premium Apartment Price 2015
| Suburb | Number of Sales | Average Price |
| Brisbane City | 3 | $2,266,000 |
| Kangaroo Point | 5 | $3,230,000 |
| New Farm | 9 | $3,244,222 |
| Newstead | 12 | $3,115,697 |
| South Brisbane | 3 | $2,200,000 |
| St Lucia | 1 | N/A |
| Tennyson | 1 | N/A |
| Total | 34 | $2,811,183 |
Check out the range of Riverfront apartments on Property Mash here.
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