It was the year Brisbane’s median home price surpassed Melbourne’s to become Australia’s second most expensive capital city after Sydney, and a new record was set for the most expensive home ever sold in the city.
Brisbane home prices climbed 12.5 per cent in 2024 to hit an all-time high of $868,000, with the top 10 residential sales all above $10m and buyers as diverse as fund managers, coal barons, and car dealers.
TOP 10 HOME SALES IN BRISBANE IN 2024
No. 1: 32 Sutherland Ave, Ascot, $23m
The city’s home price record was broken with the sale of a heritage-listed home in the affluent suburb of Ascot for $23m, in a deal negotiated by Damon Warat of Ray White Ascot and Jordan Navybox of Cohen Handler Queensland.
This house at 32 Sutherland Ave, Ascot, has sold for a Brisbane record of $23m. Image supplied.
The property at 32 Sutherland Ave had been significantly renovated by construction boss Brett Walker of BWC Group, who paid $10m for it in 2021.
Brisbane expat Ben Cleary, a director of multi-billion dollar fund manager, Tribeca Investment Partners, is understood to be the buyer, cementing a trend of expats returning to the city with money to spend.
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Mr Cleary also owns a penthouse in Cutters Landing, New Farm, that he bought for $10m in 2022 with his wife, Jane.
Ben Cleary, director of Tribeca Investment Partners.
No. 2: 46 Gordon St, Hawthorne, $20.25m
Another huge sale this year was when a riverfront property at 46 Gordon Street, Hawthorne, went under contract in October for $20.25m through Sarah Hackett of Place Estate Agents.
Developer, Todd Brown and his wife, Arabella, of Belmonde Property Group, previously owned the property, which sold to a Brisbane family.
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The six-bedroom home on a 2985 sq m block has 32m of river frontage, a 20m private jetty, a riverside pool and bar, tennis court, and gym, to name just a few of the features.
This property at 46 Gordon St, Hawthorne, sold for $20.25m in 2024.
No. 3: 89 Welsby St, New Farm, $18m
In Brisbane’s affluent New Farm, Katherine and Robert Howden, who founded Express Freight Management, bought 89 Welsby Street from Vita Group and Fone Zone founder Maxine Horne for $18m in June. The sale was negotiated by Mrs Hackett.
Formerly dubbed Australia’s wealthiest female executive, the Queensland entrepreneur, who was an investor in Channel 10’s ‘Shark Tank’ this year, paid $10.5m for the property in 2016.
This trophy home at 89 Welsby Street, New Farm, sold for $18m in 2024.
Multimillionaire and new Shark Tank investor, Maxine Horne. Picture: Lyndon Mechielsen.
No. 4: 21 Killara Ave, Hamilton, $15m
The sale of financial services industry veteran Craig Offenhauser and his wife Lorelle’s 120-year-old Hamilton estate at 21 Killara Ave set a new record for the suburb in 2024.
Records show the property sold to Chrystal Derrington, whose husband Josh is a director of Alvia Asset Partners — a Brisbane-based investment company managing $500m for 50 of Australia’s wealthiest families while running a hedge fund on the side. The sale was negotiated by Vaughan Keenan of Grace and Keenan.
Also in Hamilton, but not quite making the top 10, a new trophy home built by Graya at 20 Langside Rd, Hamilton fetched $8.701m, with the buyer disclosed as Michael Stewart of Lead Partners Private Wealth.
This property at 21 Killara Avenue, Hamilton, sold for $15m in 2024. Picture: realestate.com.au.
No. 5: ‘Sorano House’ penthouse, Kangaroo Point, $14m
In Kangaroo Point, a yet-to-be-built, two-level sky home sold for $14m off-the-plan earlier this year — an eyewatering record internal square metre rate of $45,000.
The penthouse in ‘Sorano House’, by Sydney-based developer, Trezetto Developments, was snapped up by an undisclosed local family.
Brisbane agent Phillip Rand also sold Residence 6 in the development for $9m.
Simon and Courtney Caulfield of Place Estate Agents negotiated a number of big sales in Kangaroo Point this year, including an apartment in Thornton Residences at 11 Thornton Street, which sold to coal king, Matt Latimore, founder of M Resources for $9m.
This penthouse in Sorano House in Kangaroo Point sold off-the-plan for $14m. Image supplied.
Coal baron Matt Latimore, founder of M Resources, at his office in Brisbane. Picture: Tertius Pickard.
No. 6: 898 London Rd, Chandler, $12.8m
In Chandler, a monochromatic, farmhouse-style mansion sold for $12.8m in June — setting a new sale price record for the acreage suburb.
Crowned Australia’s most popular home of 2023 by Realestate.com.au, the sprawling estate on 2ha at 598 London Rd was first listed by JLL Asia Pacific Hotels & Hospitality Group chairman Mike Batchelor and his interior designer wife, Margie, with higher price hopes.
Records show the property was purchased by Douglas Barton, who ran one of Queensland’s most successful car dealerships, Bartons.
This property at 598 London Rd, Chandler, sold for $12.8m. Image: Queensland Sotheby’s International Realty.
Doug Barton of Bartons car dealership and Terry Mulcahy, regional general manager of Hyundai, at the Bartons dealership in Wynnum.
No. 7: 7 Prospect Tce, Hamilton, $12.3m
A head-turning home designed by architect, Joe Adsett, and built by Graya sold to local property investor and developer, Louis Zenonos for $12.3m.
Another notable sale was a newbuild by a Melbourne-based developer at 62 Toorak Rd, which changed hands for $10m, with the records revealing the buyer as Sara Byrne.
This property at 7 Prospect Terrace, Hamilton, sold for $12.3m in 2024.
No. 8: 102 Virginia Ave, Hawthorne, $12m
Retired philanthropists John and Wendy Thorsen sold their five-bedroom, riverfront property earlier this year after giving it a complete facelift. The couple has ‘rightsized’ to another Brisbane pad and plan to spend more time in New Zealand.
Records show the buyer was So Hu-Chuan Hung.
This riverfront property at 102 Virginia Ave, Hawthorne, sold for $12m in 2024.
John and Wendy Thorsen sold their home at 102 Virginia Ave, Hawthorne, in 2024.
No. 9: 1 Laidlaw Pde, East Brisbane, $11.3m
A riverfront property in one of Brisbane’s most expensive streets changed hands for $11.3m in 2024.
Simon and Courtney Caulfield of Place Estate Agents negotiated the sale, but remain tight-lipped about the details of the buyer.
No. 10: 12 Elystan Rd, New Farm, $10.7m
This property at 12 Elystan Road, New Farm, sold for $10.7m in December, 2024.
One of Brisbane’s finest Federation homes, ‘Elystan House’, changed hands for $10.7m earlier this month after a campaign that attracted five offers.
The six-bedroom home on 1518 sqm in the heart of New Farm had been owned by ophthalmologist Matthew Russell and his wife, Stephanie, since 2016.
The couple paid $5.1m for the iconic property back then and have made minor improvements since.
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