Weeks like this remind me why winter in Brisbane is simply the best – chilly mornings, bluebird skies and afternoons warm enough to wander around in a t-shirt most days. It’s the perfect weather for open homes and buyers were indeed out and about last Saturday; we had close to 30 groups through 236/64 Macquarie Street! If you didn’t get a chance to take a look, we’ll be there on Saturday at 9.45am!
Once night falls and the temperatures drop, it’s the ideal time of year to settle in for a quiet evening and if you feel so inclined, a glass of red – a Merlot perhaps. If that sounds like your kind of night, we’d love to welcome you to an exclusive preview of 116/54 Vernon Terrace on the top-floor of the Winchcombe Carson Woolstore.
Mer’lo, tekDB’s latest creation, will be coming to the market next week, and we are incredibly excited to showcase this one of a kind residence. Join us tonight at 4.30pm for a first glimpse of this boldly reimagined heritage residence. Discover this uncompromising vision of luxury with a complimentary glass of Merlot (or champagne, should you prefer bubbles).
I won’t give away too much just yet – these incredible interiors are best discovered through your own eyes, but I will give away this much: this article on REA revealed a rise in a new home trend that redefines the way Queenslanders live and Mer’lo certainly lives up to the expectations.
Apartments are now outperforming houses in our country’s three strongest markets (Perth, Brisbane and Adelaide, in case you were wondering), so it makes perfect sense for high-end apartments to include the bells and whistles one would expect in a house and land purchase.
These days, any new architectural build features a wellness space, and 116/54 Vernon Terrace fits the mould, within the constraints of a heritage apartment. I love nothing more than a traditional sauna, and I am already envious of the buyer who will enjoy a hand-built Swedish cedar sauna within the comfort of their own master retreat!
As new builds continue to skew toward premium segments, the undersupply of mainstream housing remains an ongoing challenge for buyers across the nation’s major cities. New developments continue to align to the demands of luxury housing , and coupled with the ongoing supply shortage, apartment prices continue to climb due to a combination of demand and scarcity. Competition for existing stock is as intense as ever, from entry-level homes, right through to the high $1 millions, with the supply shortage relentlessly driving prices upward.
Despite easing slightly, construction costs are still close to 50 per cent higher than before the pandemic and development sites are selling for record prices. In order to justify the exorbitant development costs and keep up with lifestyle demands, new apartment supply has to remain focussed on luxury stock.
In Newstead, Consolidated Properties Group (CPG) purchased 47 Skyring Terrace in an off-market deal from Mirvac Group for $64.5m. With 47 meters of direct river frontage, this 9,368 sqm site will house over 200 apartments which will deliver a ‘“super-premium” luxury residential apartment building in a prime-inner city location, according to CPG’s CEO. This project has been planned to satisfy the “demand from owner-occupiers who are seeking premium and larger apartment stock, which has accounted for the majority of sales in the market over the past two years”.
I am biased, but I believe the Woolstores still offer a range of properties catering to budgets and lifestyle across all ages. They may no longer be priced as the student accommodation bargains of the early nineties, but they do still offer an appealing range of opportunities in varying price-brackets and most importantly – a wide variety of layouts, aspects, and styles that even the most exquisite new build cannot match!
Snapped up for $1,525,000, 227/88 Macquarie Street may no longer be on the market, but there are several more beautiful residences to discover – I’ll leave you to explore them here and I hope to see you at our open homes on Saturday.
Talk soon,
Ben
