Brisbane’s Annual Riverfront Apartment Report

Often referred to as the brown snake, the Brisbane River is home to some of the city’s most prestigious riverfront residences. Place Advisory’s annual riverfront apartment report has analysed all riverfront apartments that have transacted over the past ten years and we have outlined how the market has performed in comparison to non-riverfront apartments. Below we will provide an overview of the market, and we will highlight the Brisbane suburbs that have the highest transactional volumes and which buildings are home to some of the most expensive riverfront apartments.

Ten Year Apartment Sales Cycle | Riverfront vs Non-Riverfront

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Prepared by Place Advisory. Source RP Data

Riverfront Market Overview

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Prepared by Place Advisory. Source RP Data

Due to the limited amount of available stock, Brisbane’s riverfront apartment market has seen substantially lower sales volumes in comparison to non-riverfront apartments. The most recent six month period ending June 2016 saw the riverfront apartment market record 162 transactions, representing just 8.4% of all apartment transactions in Inner Brisbane. This result is in line with the long term ten year average, in which riverfront apartments have represented just 8.7% of total sales, portraying its limited nature.

As shown in the ten year apartment sales cycle graph above, the median sale price for an apartment located on the Brisbane River is significantly higher in comparison to non-riverfront apartments. The most recent six month period ending June 2016 saw riverfront apartments record a median sale price of $763,500. This is 68% more expensive than non-riverfront apartments, which recorded a median sale price of $455,000 for the same six month period.

Over the past ten years, riverfront apartments have been, on average, 69% more expensive than non-riverfront apartments. The six month period ending June 2008 (pre GFC) saw the largest price difference when apartments on the river were 110% more expensive, sitting at a median sale price of $850,000.

Ten Year Capital Growth | Riverfront Apartments

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Prepared by Place Advisory. Source RP Data

Riverfront apartments in Inner Brisbane have generally achieved higher capital growth than non-riverfront apartments. As shown in the graph above, riverfront apartments achieved 2.7% capital growth during the June 2016 six month period, down from 3.1% in the previous six month period, whereas non-riverfront apartments achieved 2.4% capital growth. Apartments located on the Brisbane River, have achieved, on average, 5.7% capital growth per annum over the past ten years.

The six month period ending June 2008 saw the riverfront apartment market peak at 11.4%, which was then followed by several periods of consistent decline. The effects of the 2011 floods strongly impacted the riverfront apartment market, which saw capital growth fall to its lowest point in ten years, recording just 1.7% growth following this event. There was however a quick recovery in the following months.

Brisbane’s Most Popular Riverfront Suburbs

To maximise the use of this interactive map, please open on a desktop computer or laptop.

Prepared by Place Advisory. Source RP Data

The interactive map above shows the number of riverfront apartment transactions that have occurred in Inner Brisbane, categorised by suburb, over the past ten years ending June 2016. The map is colour coded, with the darker green representing the highest number of sales.

Accounting for one quarter of Inner Brisbane’s riverfront apartments, Kangaroo Point achieved the highest volume of transactions, recording a total of 1,149 riverfront sales over the past ten years. This was followed by New Farm, which recorded 717 riverfront apartment transactions over the past ten years. In recent years, West End has seen increasing volumes of riverfront apartment transactions as the area undergoes significant rejuvenation. As the suburb continues to be redeveloped, it has now established itself as a market with a strong riverfront apartment presence.

Hover over the map to find out which suburbs have the highest number of riverfront apartments.

Brisbane’s Top 20 Most Expensive Riverfront Buildings

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Prepared by Place Advisory. Source RP Data

The interactive chart above shows the top 20 most expensive riverfront apartment buildings in Brisbane over the past ten years. Scott Street apartments, located in Kangaroo Point recorded the highest average apartment price of $4.9 million over the past ten year period. New Farm’s Aquila Moray apartments came in second, recording an average sale price of $4.5 million.

The majority of Brisbane’s top 20 riverfront apartment buildings are located in the North of the River precinct, with all except two buildings being located in New Farm.