Aquatic Paradise, Ormiston, Wellington Point, Raby Bay and St James’s Park Estate
2024 Edition by Joseph Lordi
Welcome,
Welcome to the second edition of the Redland’s Luxury Market Review for the 2023/2024 fiscal year with Storia Estate Groups.
In this report, we’ve focused on five key areas in the Redlands: Aquatic Paradise, Ormiston, Raby Bay, Wellington Point, and St James’s Park Estate.
As leaders in the luxury real estate market in the Redlands, we are excited to share our insights and real statistics* for each area in the last 12 months. Our goal is to provide you with the most accurate information, ensuring you are wellprepared if you’re considering selling your property.
Looking at the broader Brisbane market over the past 12 months, we’ve seen impressive growth with a 16.3% increase. While this is slightly less than Perth’s leading 22%, it still places Brisbane among the top-performing cities in the country.
Our closer rivals, Sydney and Melbourne, experienced growth rates of 7.4% and 1.8% respectively. As this report is released, Brisbane is the second most expensive capital city in Australia, with a median sale price of $843,231—$62,794 higher than Melbourne and $312,783 lower than Sydney.
Focusing on the Redlands luxury market, we’ve observed consistent demand across Aquatic Paradise, Ormiston, Raby Bay, Wellington Point, and St James’s Park Estate. Buyers from local, national, and international markets are keen to secure a piece of our unique and desirable locale.
We hope you find this report insightful and valuable as you navigate the luxury real estate market in the Redlands.
*All statistics are sourced from Core Logic RP Data, Realestate.com.au & Domain.com.au
Joseph S. Lordi Founder/Director Storia Estate Groups
Redland's High End Market.
The Redland’s luxury real estate market has continued to flourish over the past year, demonstrating great growth and high demand. A standout achievement in this period was the top sale at 47 Seacrest Court, Raby Bay, which fetched an impressive $4,620,000.
Private treaty has proven to be the most effective method for selling homes over $2,000,000, providing a tailored and discreet approach that meets the unique needs of luxury property transactions. Throughout the report and in each area, I will provide data from Domain.com.au, which shows the top post codes of where buyers are coming from. You will see however, majority of buyers are local to Brisbane with only a small percentage from interstate which is a change from last year.
In total, there have been 63 sales exceeding $2,000,000 this fiscal year, an increase of 13 sales from the previous year. This upward trend highlights the growing appeal and demand for luxury properties in the Redlands.
When it comes to buyer preferences, the most searched keywords for the Redlands are views, dual living, and waterfront These search terms reflect the key features and lifestyle benefits that buyers are seeking in this prestigious market.
Each area discussed in this report has reported consistent growth over the last 12 months, with Wellington Point showing the most growth out of the 5 locales
The Redland luxury market continues to attract discerning buyers locally, nationally, and internationally, making it an exciting time for both sellers and buyers in this vibrant region.
30 Luxury Sales
Raby Bay
Ormiston Wellington Point St. James Park Aquatic Paradise
Aquatic Paradise
Over the past 12 months, Aquatic Paradise has truly flourished. Despite an increase in supply since the last financial year, we have seen an impressive 9.49% growth in the median sale price, now sitting at $1,940,000—making it the second highest in the Redlands, just behind Raby Bay.
This year, there were a total of 8 wet block transactions in our estate, which is 5 more than last year. Overall, we recorded 14 transactions throughout the estate, with properties taking an average of 63 days to sell.
The highest sale was achieved at 8 Mainsail Street, fetching $2,725,000. Following closely was my sale at 10 Keel Street, a low-set home that sold for $2,600,000.
As the leading agent in Aquatic Paradise, I offer tailored reports to provide detailed insights specific to your home. Please don’t hesitate to contact me anytime for a confidential chat.
Aquatic Paradise
Ormiston Ormiston
The luxury property market in Ormiston has shown robust performance over the 2023/2024 financial year. Our beautiful area has become increasingly attractive to high-end buyers, reflected in several key market statistics.
Over the past year, Ormiston witnessed 81 transactions with a total of 7 sales achieving over $2,000,000. The properties on the market typically spent an average of 59 days before being sold, indicating a moderate turnover rate within this price bracket.
The average sale price for homes in Ormiston was $1.29 million. This price point highlights the area’s appeal to affluent buyers seeking premium living conditions. The highest sale recorded was an impressive $3.3 million, setting a notable benchmark for the suburb.
The luxury property market in Ormiston experienced significant growth, with property values increasing by 9.5% over the past 12 months. This growth rate underscores the area’s rising desirability and the robust demand for luxury residences.
Peak selling periods were observed in May and November, aligning with broader trends in the real estate market where activity typically heightens during these months. These periods are characterized by increased buyer interest and competitive bidding, often leading to higher sale prices.
Overall, Ormiston’s luxury property market has demonstrated strong growth and sustained demand, making it a lucrative area for both buyers and sellers in the high-end real estate segment. If you’re looking for a more comprehensive and detailed report on your property, please don’t hesitate to contact me for a confidential chat.
Postcodes Ormiston Buyers are Coming From (%)
Ormiston Peak Selling Periods ( 3 years)
Ormiston Price Range Segments (12 months)
Wellington Point Wellington Point
The luxury property market in Wellington Point has exhibited impressive performance over the 2023/2024 financial year. The suburb has solidified its reputation as a premier location for high-end living, reflected in the following key market statistics.
Wellington Point saw a total of 177 property sales over the past year The average time on the market for these properties was 47 days, indicating a brisk pace of sales and strong buyer interest.
The average sale price for homes in Wellington Point was $1.17 million. The highest sale recorded in this period was $2.45 million. Also, there were five sales exceeding the $2 million mark, with my team achieving most of these transactions.
The luxury property market in Wellington Point experienced notable growth, with property values increasing by 11.3% over the past 12 months. This growth rate highlights the suburb’s increasing desirability and the robust demand for high-end properties.
Point Home Ownership
or further clarification, please do not hesitate to contact
Raby Bay
The property market in Raby Bay has shown steady performance over the 2023/2024 financial year. This prestigious waterfront suburb continues to attract high-end buyers, reflected in the following key market statistics.
Over the past year, Raby Bay recorded a total of 39 property sales in the luxury segment The properties on the market typically spent an average of 65 days before being sold, indicating a measured pace of sales within this exclusive market.
The average sale price for luxury properties in Raby Bay was $2.6 million, underscoring the suburb’s status as a premium location and is once again the most expensive suburb in the Redlands. The highest sale recorded was an impressive $4.52 million, setting the benchmark for the area.
The luxury property market in Raby Bay experienced a growth rate of 6.27% over the past 12 months. This growth rate reflects steady demand and the enduring appeal of waterfront properties in this high-end market.
With still a lack of supply in our locale, I expect the growth to stay consistent in the coming 12 months.
Overall, Raby Bay’s luxury property market has demonstrated consistent performance and sustained demand, making it an attractive area for both buyers and sellers in the high-end real estate segment.
Cleveland Peak Selling Periods ( 3 years)
Source: Australian Bureau of Statistics (ABS) Raby
PROPERTY: 10 KINSAIL COURT, RABY BAY
St James's Park
St James’s Park has experienced a really exciting 12 months. We have recorded tremendous growth of an astonishing 10.87%, which brings us to an average sale price of $1,690,000. This is a recorded growth of $182,000.
My team and I recorded the 2 highest transactions in the estate for this fiscal year at 2 Whitehall Avenue selling for $2,235,000 and also our result at 42 Whitehall Avenue achieving $1,930,000 which is the new estate record for a half acre property.
There have been a total of 9 transactions and on average, it took 61 days to sell these homes.
Over the last 5 years on average, October is when the most transactions take place and when buyers are most active trying to secure a home before the Christmas break.
As the leading agent in St James’s Park, we have comprehensive knowledge of our local market. And as a local Birkdale Acreage homeowner myself, will always continue to strive to achieve the most money possible for my neighbours.
If you would like a more detailed report for your home, please don’t hesitate to contact me for a confidential chat.
PROPERTY:
Redland's Exceptional Sales Performance
The Redland’s luxury market has shown remarkable performance and growth over the 2023/2024 financial year. Each suburb has demonstrated strong demand for high-end properties, driven by discerning buyers seeking premium living environments. The steady increase in property values and significant sales figures underscore the attractiveness of these areas for luxury real estate investments.
At Storia, we pride ourselves on delivering exceptional customer service and achieving optimal results for our clients. Our progressive approach to real estate ensures that we stay ahead of market trends, providing innovative solutions and unparalleled expertise.
This year, we have sold the most homes over $2,000,000 than any other Redland’s agent, cementing our position as the leaders in luxury real estate. Our dedication to excellence and our deep understanding of the luxury market have enabled us to consistently exceed client expectations and set new benchmarks in the industry.
As we look forward to the next financial year, we remain committed to providing our clients with the highest level of service and the best possible outcomes in the luxury property market. Thank you for choosing Storia as your trusted partner in luxury real estate and we look forward to continuing working with you this financial year.
