No longer a bridesmaid; Brisbane primed for big things in 2024
Apartments & Developments
5 February, 2024
It’s no secret that Brisbane has spent the last few years rising through the ranks of popular Australian cities to cement itself as one of the best places in the world to visit. Forget Melbourne and Sydney, the river city is finally having its moment in the sun, and for very good reason.
As host of the 2032 Summer Olympic Games, Brisbane is undergoing a $3.6 billion expansion of its Queen’s Wharf area, slated to partially open in April this year. The development will see an expansion of Brisbane’s already vibrant cultural centre.
Queens Wharf will feature more than 50 world-class restaurants and bars, four world-renowned hotels, international retail destinations, parks and public spaces, nightlife entertainment, and a community hub. Spread across 7.5 hectares of riverside space, Queens Wharf will occupy an impressive 10 per cent of Brisbane’s CBD footprint.
The premium nature of the development was called out in a recent article by the New York Times as one of the reasons Brisbane is a must-visit destination in 2024. In the article titled ‘52 places to go in 2024’, journalist Stephanie Pearson described Brisbane as ‘food, art and vertiginous views in a city gearing up for its Olympic moment’. High praise indeed, from one of the world’s most prestigious and long-running newspapers.
Not alone in her point of view, Stephanie’s sentiments are echoed by travel guide publisher Frommer’s, who also recently listed Brisbane as one of the ‘Best places to go in 2024’. Frommer’s expressed appreciation for Australia’s third largest city, due to its ability to turn a ‘natural obstacle’ – the Brisbane River – into a ‘world-class asset’.
The article described the new and beautiful ways Brisbane is showcasing its river via entertainment precincts and innovative new ways to travel ‘over, under and around the waterway’. Put simply, Frommer’s wrote ‘Brisbane’s reputation as a generic Aussie backwater is over. It belongs to the world now’.
And the world may very well be coming…
The city’s population is expected to increase by more than half a million people by 2030. Thanks to Brisbane’s upcoming ‘Olympic moment’, property prices are rising and we’re already seeing increased demand for luxury apartments that embrace all Brisbane has to offer.
Head of Residential at Consolidated Properties Group, James MacGinely, agrees there’s more to the hype around Brisbane than just 300 days of sunshine per year.
“Brisbane has always been the envy of the southern states in terms of weather,” says James.
“But there was a time where apartments in Brisbane were considered a second-rate option to property in Melbourne and Sydney, despite the sunshine.”
That attitude, he says, has well and truly changed.
“Apartments in Brisbane are now being designed to embrace the outdoor lifestyle; think large balconies, expansive sliding doors on facades, and resort-style rooftop gardens.
“These elements are what is expected in new developments,” says James.
“When you pair that with vibrant dining and entertainment options, a thriving sporting culture, new riverfront precincts, all while retaining relaxed leafy streetscapes and world-class beaches, is it any wonder we’re seeing the demand for Brisbane property skyrocket?”
Consolidated Properties Group has a lot of skin in the game when it comes to Brisbane’s booming property market. Construction is currently underway for its river-front project, Monarch Residences.
Just three kilometres from Brisbane’s CBD, Monarch Residences comprises two beautiful residential towers, carefully designed to make the most of outdoor space, and river and city views. The project combines sub-tropical cosmopolitan living and convenience, just moments from world-class amenities.
“Monarch offers large riverfront balconies and floor-to-ceiling glass that showcases the growing vibrancy of Brisbane,” says James.
“We also decided to include Swiss V-Zug appliances to raise the bar on more typical European offerings that have been recognised as a point of difference by our residents.”
The luxury residential apartments are unique in their location and outlook, with no other riverfront sites available in the local area.
“We have achieved nearly $300 million in sales since the development’s launch, with our River 2 tower close to selling out,” says James.
“When you pair a large cohort of local buyers with astute interstate buyers, who have realised that Brisbane is on the rise, it’s not surprising that luxury apartments like Monarch Residences are experiencing a surge in demand.”
Monarch Residences is anticipated for completion in 2025 and you can learn more about it here.
Another developer getting in on the action is Spyre Group. The boutique Queensland developer is already 50 per cent sold on their Moray House project – a masterclass in low-maintenance luxury.
Selling Agent Simon Caulfield knows it’s no accident that Brisbane is being recognised finally as the powerhouse that it is.
“Brisbane is a world-class city; within 15 minutes of leaving the airport, you can be dining on the riverfront at Howard Smith Wharves and shopping at the high-end stores on Queen Street.”
Simon believes that liveability is key when it comes to Brisbane cementing itself as one of the best places to visit and live.
“It is all about a convenient lifestyle; being able to walk out your front door and along the river, with immediate access to amazing cafes and restaurants, without even having to get in a car.”
That’s exactly what Spyre Group is aiming for with its Moray House development in New Farm. The development features six luxury residences with direct access to the river and an interior that is centred around convenience.
“Riverfront luxury developments are few and far between in New Farm, especially with accessibility to all of Brisbane’s lifestyle precincts,” says Simon.
Moray House is expected to be completed in late 2024 / early 2025. For more information on the project, click here.
Meticulously designed to provide a comprehensive Queensland living experience, Sekisui House Australia’s West Village is another project making waves in Brisbane.
This 2.6-hectare mixed-use development includes eight residential towers, with five already completed, two under construction and one to be delivered.
Currently under construction is the Allere Collection, which features two vertical communities, Uno and Duo. These 203 residences are slated for completion this year.
When finished, West Village – crafted by Sekisui House Australia – will provide a diverse array of amenities, anchored by the beautifully restored Peters Ice Cream and Cone Factories.
Project Director Taku Hashimoto says the development includes more than 30 retail and dining establishments, commercial offices, a medical hub, a beauty precinct, Goodlife Health Clubs, and collaborative workspaces for residents.
“What's even more appealing is its convenient location, just 800 metres from the heart of Brisbane's CBD,” says Taku.
The latest residential offering in West Village is over 95 per cent sold. For more information on the project, click here.
When asked about Brisbane being one of the hottest new places to live in Australia, Taku said he wasn’t surprised in the slightest and agreed with Simon and James’ assessments.
“Brisbane boasts a strong, diversified economy and has a focus on quality of life, heritage preservation, and extensive transportation.
“It’s also known for its connectivity, thriving property market, and a commitment to sustainability through eco-friendly initiatives and urban renewal projects,” he says.
“The city offers a robust education system, great recreational opportunities, and a friendly community spirit, making it a truly great place to live.”
For more on market insights, news, and all things off-the-plan apartments, click here.
