17 Leatherwood Pl – Brookfield SOLD for $3.25 Million Click here to view
Big demand for luxury houses as year draws to a close, says Prestige Property Specialist Jason Adcock.
BRISBANE’S prestige property market is expected to see a rush of activity right through until two days before Christmas as the top end of the market looks to settle property matters before the year is out.
Jason Adcock of Adcock Prestige Brisbane, who has been in the industry for 26 years, said riverfront properties, penthouses, character homes on large blocks and modern timeless homes within a 10km band around the city were seeing big demand.
Agent Jason Adcock, of Adcock Prestige – Brisbane says high end sellers must get themselves ready to go to market.
“There certainly is a pent up rush and demand for buyers wanting to buy prior to Xmas and will be like that all up to Wednesday December 23, then it will go quiet up until around January 7, which I expect will resume the strong interest in buying prestige property again.”
Among recent sales of multi-million dollar homes Mr Adcock has overseen was 24 Glen Rd – Toowong which SOLD under hammer last Saturday for $7.3 Million setting a new suburb record, 32 Hiron St – St Lucia was SOLD for $4.5 Million 48 hours after Auction two weeks ago and 35 Stevens St – Yeronga SOLD for $2.715 Million in just 6 days off an Instagram ad prior to Auction as well as Cubberla Homestead 385 Jesmond Rd – Fig Tree Pocket SOLD 48 hours after Auction for $4.65 Million. and 17 Leatherwood Pl Brookfield A Grand Georgian Mansion SOLD for $3.25 Million in just 45 days
He said stunning homes like those were coming to market because selling conditions for prestige property were “the best it has been for a decade”.
That gave sellers confidence they would sell for a good price in a timely manner, Mr Adcock said.
“Some of the most expensive properties ever sold in Brisbane have been sold in the last 12 months. Interest rates are at an all time historic low and families can now buy properties with much less in monthly mortgage payments.”
Those on the hunt in the prestige market were 80 per cent locals upgrading, 10 per cent interstate and 10 per cent offshore buyers, he said.
With big homes selling, there was also rising demand for luxury downsizing options, he said.
“There is a lot of demand in the luxury downsizing, mainly house size apartments of at least 200sq m either on the river or with city views. There is also a lot of demand for luxury homes on smaller blocks within 7km of the city close to shops, restaurants and cafes.”
The first piece of advice he had for anyone selling at the upper end of the market was to ensure the home was professionally styled and that the gardens looked spectacular.
“Then make sure you spend on a professional marketing campaign, which includes a print media and digital marketing mix, including all social media including Facebook, Instagram and Google display ads.
“A HD Walk through Video including drone footage, professional photos, floor plan, print media including The Courier Mail. Make sure it has a closing deadline which maybe an Auction or an EOI, this gets buyers focussed on the property seriously.”