There have been a total of 50 houses sold for more than $3 million over the last twelve months to April. This is the highest number of luxury housing transactions observed over a 12 month period since the 2007 calendar year which recorded 51 sales.

The total value of luxury real estate sold in Brisbane during 2014 was $198.7 million. Again, this is second only to 2007, where a total of $205.3 million worth of luxury houses were sold.

The suburb of Hawthorne recorded the most luxury transactions, with a total of seven houses sold for more than $3 million over the past twelve months. This was followed by Hamilton (6 sales) and Norman Park (4 sales). Norman Park had the highest median sale price for the 2014 calendar year at $4,875,000.

Proximity to the Brisbane River is a major price driver, with the majority of sales being located on the river, particularly in suburbs such as Hawthorne, Bulimba, New Farm and Newstead.  These suburbs have extremely active prestige markets because of the premium lifestyle and liveability that they offer, attracting high income individuals.  Ascot and Hamilton are also popular suburbs for this market segment, due mainly to the prestigious nature of an address in these suburbs. Houses on Hamilton hill are also some of the largest and stateliest in Brisbane, offering uncompromised views of the river and city.

If we look at the number of sales by suburb over the past 10 years for the $3 million plus housing market, Hamilton has seen the largest number of sales by far, registering 58 over the past 10 years.  This was followed by Ascot (44 sales) and Hawthorne (38 sales).