North Brisbane Property Update: Increased Demand for Suburban Luxury Homes
As we begin to settle into 2023, the real estate community has observed a slight shift in consumer trends – luxury suburban homes and townhouses have seen a surge of prospective prestige buyers in the past couple of months, according to new industry reports.
A new expectation is being set for suburban living by Brisbanites, who want the luxury and convenience of inner-city living, without all the hustle and bustle that comes along with it. Luxury city-dwellers are swapping the action for a more relaxing, indulgent lifestyle – and they’re willing to move a little further from the CBD to achieve it.
Buyers are chasing a home that evokes the spirit of a life-long holiday – with communal, resort-esque features and amenities becoming non-negotiable features of a luxury suburban home. Think plunge-pools, yoga lawns, indoor gyms, fire pits – along with EV Chargers, sustainable technological solutions, and smart integrations, of course.
27 Norman Street, Ascot which sold for $2,430,000
Given the state of the property market at present, buyers are becoming particularly picky about their investments. High-end homes in quiet neighbourhoods are at the forefront of their minds – and they won’t settle for less, according to recent data from PopTrack.
With this sentiment in mind, we can make the assumption that luxury properties and developments occurring in Brisbane’s stunning inner-Northern suburbs will see higher demand in 2023, given the current lack of supply.
We saw this recently over in Albany Creek, where a development of $80m luxury apartments were quickly snapped up at around $1.2 million each, according to Oliver Hume Queensland general manager, Dan Ross.
What does this mean for sellers?
Consider this as food for thought if you’re considering selling this year. As time progresses, it is likely that this standard will become the status quo for Brisbane luxury buyers, and we’re looking forward to watching this space as the year continues.
Are you the owner of a property that sounds just like what the buyers are hungry for? If so, get in touch with the Northside experts at Oliver Jonker today, so we can get your fruitful sales journey started.