12 sales that changed the market in 2021

They’re not all necessarily the biggest homes or most expensive transactions, in fact they’re not all sales I made, but they are the sales that I think shaped the market in and around our patch this year, from Hendra to Paddington, New Farm to Petrie Terrace. 

JANUARY

The stakes were high with the sale of Caulfield Estate at 38 Newmarket Street in Hendra. Once the home of one of Queensland’s most prized racehorses, Bore Head, the Hamptons-style estate sold for $3.65 million on January 25.

The thoroughbred took out the 1963 Queensland Cup, the Caulfield Cup in 1965, the 1967 Australian Cup and the Doomben Cup the same year. The magnificent six-bedroom home was revamped by local developers and the stables converted to a pool house. No doubt a winning combination for the new owners.

FEBRUARY

There was plenty of excitement surrounding the reveal of the five exclusive whole-floor apartments in the Maison development on Moray Street, New Farm.With its unique design, this Graya and Frank Developments high-rise is nothing like we’ve seen in Brisbane before and buyers were quick to recognise it – four residences sold off the plan and the penthouse went for $4.5m to Byron Bay property developer and “spa king’’ Eddie Phillips. Watch this space – developer Graya is planning another two apartment projects in New Farm.

MARCH

It was the year for smashing records, with 22 Reading Street in Paddington going for a suburb record $8 million. There was no stopping buyers for this luxurious home, sold by local surfer and developer Paul Gedoun, with the five-bedroom, seven-bathroom home on 1553sqm receiving more than 100 enquiries and sold within 24 hours of being advertised online. A new suburb record had only been set three weeks earlier when 197 Fernberg Road, just 100m down the road, sold for $7.75 million.

APRIL

Big on price and big on space, a new record for a home sale in Hamilton was made in March when 55 Markwell Street sold for $12 million in an off-market deal. The flagship Shaun Lockyer Architects’ property was situated on Hamilton Hill land with arguably the most outstanding 180-degree Brisbane views. With plenty of privacy and space, the 2456sq m estate offered more than 1000sqm of family living and entertaining, something incredibly hard to come by.

MAY 

The sale of 16 Walker Ave, Teneriffe goes to show the power of online marketing 8450 online views, resulting in 150 inspections and eight registered bidders. This led to a great result, selling at auction for $5.45m. The four-bedroom home with high quality finishes and a lift servicing all three floors was impressive, but undoubtedly the home office with balcony captured buyer’s attention in the new work-from-home world we live in. 

JUNE
The sale of 13 Crown Street, Petrie Terrace, really showed just how hot the property market was in 2021. This dilapidated one-bedder on a tiny 200sqm sold for $855,000 – about $100,000 over reserve. The worker’s cottage was owned by the family of rugby league legend, Col Weir, who died last year at the age of 84.

AUGUST

Touted as Brisbane’s best penthouse, 11/170 Bowen Terrace, New Farm  had hearts racing when it hit the market – and then again when it was passed in at auction. But vendor, businessman and renowned restaurateur John Kilroy, walked away with $7 million for the prized two-level penthouse, which featured a sky pool and imported calacatta marble.

SEPTEMBER

The (multi)million dollar views at 4/29 Moray Street, New Farm were some of the best we have seen. This 339sqm home was designed to take in every inch of its river frontage, including views of the iconic Story Bridge, from Kangaroo Point to Fortitude Valley. No surprises it was snapped up, selling for $5,025,000 in September.

OCTOBER

The renovation bar was raised when 78 Coventry Street, Hawthorne hit the market, selling for $3.635 million in October. Vendors had seen the potential in this traditional Queenslander with its unrivalled vistas of the city. They engaged Ian Webb Architects to transform the property into a five-bedroom, four-bathroom home with a pool, but honouring some original features such as the ceilings, pressed metal fireplace and frontage. 

OCTOBER

I was honoured to be able to market the 4-hectare estate at 421 Grandview Rd, Pullenvale. It didn’t even make it to auction, selling prior for $6.6m. A breathtaking property that had it all from a theatre to a wine cellar, pool with swim-up bar and tennis courts, it ticked every box on the mansion list. Previously owned by failed billionaire Nathan Tinkler, it sold for more than double what it fetched when it was put on the auction block by receivers five years ago.

NOVEMBER
I couldn’t cover the top 10 best transactions for 2021 without mentioning 33a Markwell Street, Hamilton. With its blue-chip location, unsurpassed views and sophisticated design, what made this property a gem is the story behind the sale, being sold by luxury jeweller Margot McKinney and her sister Jane Welch who are the daughters of retail magnate John McKinney who died last year. Ms McKinney’s jewellery is sold in Australia and in the US, and has been worn around the world by former foreign minister Julie Bishop.

NOVEMBER 

New Farm made history and headlines in November as it entered the record books as only the second Brisbane suburb to have a house price median of more than $2 million, with neighbouring Teneriffe the only other suburb to reach this milestone. We are heading towards smashing another record this month with the iconic 25m riverfront development at 65 Moray Street in New Farm. The 1,030sqm parcel has approvals for a six-storey, one-floor apartment complex or the option to build a dream home.

There you have it, my top 12. It’s been a year for the books in Brisbane. Looking forward to seeing what 2022 brings.

I hope you enjoy the read.

Matt Lancashire