Prestige market set for Spring surge with $2m-plus sales already on the rise - Jason Adcock


10/53 Paragon Street, Yeronga, sold for $2.05m on August 24.

THE prestige house market is bracing for one of its biggest Spring seasons in a decade with $2m-plus sales already on the rise.

 

Real estate agent Jason Adcock of Adcock Prestige Brisbane sold three prestige houses above the $2 million market in the past week alone, with a fourth house deal struck but yet to go unconditional.


Riverfront property has seen strong demand including 10/53 Paragon Street, Yeronga, that sold this past week.

“I’m expecting it to be probably one of the biggest Spring selling seasons I’ve seen in more than a decade. I’ve signed up six prestige auctions just in the last five days. It generally starts (revving up) after the school holidays but it’s started early,” he told The Courier-Mail.

Not only were sellers keen to get on the market, but buyers were also out househunting in the prestige price range.


One of three sales by Jason Adcock this past week, this at 10/53 Paragon Street, Yeronga.

He sold 10/53 Paragon St, Yeronga, for $2.05m in six days after receiving four offers off a dozen buyers that inspected it.

“(There’s) very strong interest from local buyers upgrading, professionals and business people, a lot of interstate buyers who were originally from Brisbane now coming back and Chinese buyers relocating to Brisbane as well.”

Among the drawcards were proximity to universities and “really good schools”.


168 Harts Road, Indooroopilly, sold for $2.4m on August 25.

He sold 168 Harts Road, Indooroopilly, for $2.4 Million within 10 days of listing it, with 20 buyers through in seven days and four written offers. The property is just six minutes from the University of Queensland and located across the road from the greens of Indooroopilly Golf Club.


Pools are a must, including this one at 168 Harts Road, Indooroopilly, that sold this week.

Mr Adcock said there was also a surge in demand for homes that did not require any further work by buyers.

“The type of homes that are resonating with the prestige buyers are those that are completely turnkey with no renovation required. They’re timepoor people,” he said.

“Obviously they (also) expect all the bells and whistles: Four to five bedrooms, three to four bathrooms, a high level of fixtures and fittings, a pool and a decent yard.”


36 Morley St, Chelmer, sold after auction

One of the homes he sold was 36 Morley Street, Chelmer — a Hamptons-style build that fetched $2.48m, a major feat considering the property was not on the river.

Mr Adcock said it was a new off river record in Chelmer for a block under 700 sqm, and had 97 buyer enquiries with four written offers, selling after auction.

The Spring Selling Season officially opens on September 1.

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Jason Adcock - Prestige Property Specialist

Jason Adcock is the Principal of Adcock Prestige. He has been recognised by his peers for his energetic, dynamic approach to the Brisbane Prestige Property market and applauded for… View full profile