Teneriffe-Why It's An Historically High Performer
History tells us much about real estate and there's one Brisbane suburb which has performed consistently as the city's best performing suburb, right back to the early 1900's. Thanks to the foresight of our wealthy pastoralists, who made the precinct a bustling buzz of profitable trade, the seeds they planted back then, have seen the suburb continue to flourish, regardless of market conditions.?
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Thanks to our ancestors much of the attraction is the character of the suburb, best known for its magnificent historic woostores.?This year has seen Teneriffe outperform every suburb in Brisbane.?The small number of quaint cottages and striking architectural homes in Teneriffe, are?highly sought and tightly held, with realestate.com?reporting only 8 have transacted this year, pushing the median house price just over $4million dollars for the suburb.?
Year on year, that's an incredible 21% growth for house prices.?(Full Report Here)
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There is something undeniable about the charm of Teneriffe. Right back in the 1900's it was a magnet for the state's most affluent pastoralists and wool traders. Even then, architects took great pride in creating a lasting legacy with the rich history of the pristine woolstores today synonymous with the suburb.?
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In more recent years, the revival of these beautiful buildings and conversion into tightly held apartments started in the late 90's, followed by the beautification of prime riverfront with the addition of some of the city's most exclusive waterfront homes in the Catalina enclave.?
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More recently, the suburb has captured the imagination of Australia's largest private developer Kokoda Property, with billion dollar plus plans to transform the last remaining industrial riverfront site into Teneriffe Banks.?
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Tomorrow, together with my colleague Simon Petrie we will be launching an incredible house alternative to the market, a rare offering in the historic Winchcombe Carson Woolstores.
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This apartment is particularly special, being 233sqm with it's own private courtyard, something extremely rare to find in a Woolstore.?124/54 Vernon Terrace, Teneriffe is also unique, in that it has a private entrance via Dath Street as well as direct access from the courtyard directly to greenspace and a lagoon style swimming pool.??
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Our owners have thoughtfully enhanced the industrial elements of the apartment, which was believed to originally been the loading bay for wool back in the 1900's. This gives the apartment a massive advantage of well with an enormous street frontage and abundance of natural light which is captured from its private corner position.?This is really the size of a house and also includes a large seperate study, making it ideal for a home business.
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We will be open from 12.15pm tomorrow with access via Dath?Street so we look forward to showing you this magnificent residence.??
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Top?10 Sales of The Week
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This week’s standout sales in Brisbane highlight the strong demand for beautiful, spacious homes across a variety of suburbs, including fringe areas. Buyers are increasingly seeking properties that provide both luxury and ample space, catering to families and professionals alike. These significant transactions underscore the diverse needs of buyers navigating Brisbane's competitive property market, with a focus on homes that offer immediate comfort, convenience, and room to grow.
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1. 1 Parkside Lane, Bald Hills $8,100,000
2. 305 Formosa Road, Gumdale $6,512,000
3. 23 Agars St, Paddington $mid $6,000,000
4. 15 Pelion Street, Bardon $4,456,500
5. 43 Yarradale St, Newmarket $3,970,000
6. 23 Crescent Rd, Kelvin Grove $confidential
7. 14 Belmont Crescent, Paddington $3,050,000
8. 10 Annie St, Paddington $3,000,000
9. 44 Carr Street, Bulimba $2,900,000
10. 3 Miawela St, Seven Hills $2,900,000
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*Top 10 Results are based on publicly available data, auction results, and data provided by agents. Data is deemed reliable at the time of publication but Christine Rudolph and Ray White New Farm neither warrants its accuracy or accepts any liability in relation to its use.