Luxury apartments on water still hot property

631/1 Newstead Terrace, Newstead, Qld 4006. Pictur

The apartment at 631/1 Newstead Terrace, Newstead.

TWO high-end apartments in a luxury riverfront development in Newstead have sold for seven-figure sums.

Growing strength in the downsizers market saw 631/1 Newstead Tce sell for
$2.9 million.

The three-bedroom, three-bathroom, double garage apartment was sold by Brett Greensill of LJ Hooker New
Farm.

It features open-plan living areas, with a family-sized kitchen that spills out on to a big, entertainment balcony to take advantage of the stunning views.

Another unit in Pier Waterfront, 522/1 Newstead Tce, sold for $2.25 million to a local owner-occupier.

The three-bedroom, two-bathroom unit spans 207sq m.

The master bedroom comes with an ensuite and its own balcony.

The Pier Waterfront development includes exclusive use of pools, gyms, and a concierge service.

The sales come amid strong demand for riverfront property, despite Brisbane experiencing an oversupply of inner-city units.

Newstead has a median unit price of $595,000, according to CoreLogic.

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