Cash splash: Top 100 home sales of 2021 financial year in Qld
It will be remembered as one of the busiest years on record, as desperate cashed-up buyers scrambled for a piece of the Sunshine State.
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Households “awash with cash” and an insatiable demand for luxury property has driven a Covid-fuelled sales frenzy, with tens of billions of dollars’ worth of real estate changing hands in Queensland in the past 12 months.
The 2020-21 financial year will be remembered as one of the biggest on record, with sales smashing price benchmarks, properties fetching hundreds of thousands more than their asking prices and desperate cashed-up buyers scrambling for a piece of the Sunshine State.
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The top sales from the past year range from prized waterfront estates snapped up by local and interstate corporate high-flyers to inner-city trophy mansions with indoor squash courts.
Topping the list is a beach house that was not even for sale when it became the most expensive home ever sold in Queensland just last month.
Sitting on a 2015 sqm battle axe block, the fan-shaped, three-level house at 17 Webb Road in Sunshine Beach changed hands in an eye-watering $34 million deal.
Another mega deal was also struck offmarket in June in Sunshine Beach — $22 million for a luxurious property at 2 Belmore Terrace.
The five-bedroom, six-bathroom house is on 1258 sqm with 41 metres of ocean frontage.
Records show the owner had paid $14 million for the property in 2018 — making a tidy $8 million in just three years.
The median house price in Sunshine Beach jumped a whopping 23 per cent over the past year to $1.95 million, according to the Real Estate Institute of Queensland.
Tom Offermann Real Estate principal Tom Offermann said the past 12 months had been one of the most active years on record for the Noosa housing market, with sales across the shire totalling some $2.8 billion.
“This represents a remarkable 40 per cent increase on the preceding year,” Mr Offermann said.
“July 2020 began with locals fresh out of a short Covid lockdown and a market fueled by highly motivated buyers making snap lifestyle and work-related decisions.
“The record low cost of debt combined with an unprecedented amount of government support extended the financial capacity of buyers.”
Mr Offermann said the shortage of listings and strong demand from buyers had created windfalls for many sellers.
“Buyers simply had more credit available to them, and those who had just sold a property were re-entering the market with deeper pockets,” he said.
“We could sense desperation as so many missed out on multiple properties they tried to buy; also record numbers of sales were transacted without a buyer inspection.”
Before the $34 million Sunshine Beach deal last month, the previous record for Queensland’s most expensive home sale had been set in October when a waterfront Gold Coast mansion fetched $27 million.
The three-level house on a sprawling Isle of Capri estate at 41-45 The Promenade sold to a buyer from Sydney and holds the second spot on our list of top sales in 2020-21.
In fact more than half of the top 20 sales in the state over the past year have been on the Gold Coast, where demand for prestige property is at an all-time high.
According to a new report from Knight Frank, the Gold Coast recorded a 91 per cent rise in annual sales turnover in the first quarter of 2021 — bigger than any other major housing market in the country.
Knight Frank’s head of residential research, Michelle Ciesielski, said the increased level of demand prime residential real estate looked set to continue to grow in line with Australia’s ultra-high-net-worth population, which grew by 10.9 per cent in 2020.
In Brisbane, the biggest sale recorded in the past financial year was a clifftop mansion at 1 Leopard St, Kangaroo Point, which sold for $15 million in May.
The deal made headlines when it emerged Broncos chairman and Ord Minnett CEO Karl Morris had bought the six-bedroom, six-bathroom home on 1184 sqm, which was once the city’s most expensive when it changed hands for $18.48 million back in 2017.
It was one of several sales orchestrated by Heath Williams of Place Estate Agents that drew more than $5 million over the past 12 months.
Mr Williams also sold 33B Harbour Road, Hamilton, for $9.5 million and 1/6 Tilbrook St, Teneriffe for $6 million.
He said he had 20 per cent more clients on his books looking for properties beyond the $5 million price tag.
“It’s been a manic 12 months,” Mr Williams said.
“There’s a lot more people looking in that price range (above $5 million), but it is not necessarily more people coming in with foreign money or from down south.
“A lot of people who had property, say around the three million that’s now worth four-million-dollar range, are selling and upgrading.”
The latest figures from SQM Research reveal national residential property listings dropped another four per cent in June.
SQM Research managing director Louis Christopher said the figures showed old stock was being cleared as the number of buyers continued to outstrip sellers, pushing up property prices further.
“This highlights there are more buyers than sellers in national property markets, and it also suggests the market remains strong despite the new outbreak in Covid-19 cases and the end of JobKeeper and HomeBuilder earlier this year,” Mr Christopher said.
“As demand outstrips supply, we are seeing strong rises in asking property prices, in capital
cities and the regions, which is likely to continue through 2021.
“Households are awash with cash, the jobless rate is falling. So, we’d expect house price growth to remain strong with interest rates so low.”
| Address | type | Sale price | Sale date |
| 1 17 Webb Road, Sunshine Beach | House | $34m | June, 2021 |
| 2 41-45 The Promenade, Isle of Capri | House | $27m | October, 2020 |
| 3 187-191 Hedges Ave, Mermaid Beach | House | $22.6m | August, 2020 |
| 4 2 Belmore Terrace, Sunshine Beach | House | $22m | June, 2021 |
| 5 159 Hedges Ave, Mermaid Beach | House | $15.75m | January, 2021 |
| 6 7001/4 The Esplanade, Surfers Paradise | Apartment | $15.25m | May, 2021 |
| 7 1 Leopard Street, Kangaroo Point | House | $15m | March, 2021 |
| 8 3-7 Sir Lancelot Close, Sovereign Islands | House | $14m | May, 2021 |
| 9 139 Monaco St, Broadbeach Waters | House | $12.8m | January, 2021 |
| 10 297-299 Monaco St, Broadbeach Waters | House | $12.5m | January, 2021 |
| 11 249-255 Monaco St, Broadbeach Waters | House | $12.5m | August, 2020 |
| 12 55 Markwell Street, Hamilton | House | $11.8m | March, 2021 |
| 13 21 Yabba Street, Ascot | House | $11.5m | February, 2021 |
| 14 34 McIlwain Drive, Mermaid Waters | House | $11.18m | July, 2020 |
| 15 30 Seafarer Court, Paradise Waters | House | $11m | February, 2021 |
| 16 1101/87 Mooloolaba Esp, Mooloolaba | Apartment | $11m | January, 2021 |
| 17 47 Mossman Court, Noosa Sound | House | $10.91m | August, 2020 |
| 18 8 Riverbend Ave, Carrara | House | $10.45m | February, 2021 |
| 19 8085 Riverside Dr, Hope Island | House | $10m | January, 2021 |
| 20 2134 The Circle, Hope Island | House | $10m | September, 2020 |
(Source: CoreLogic, Realestate.com.au, reported sales)
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