Overseas buyer sets sales record with whopping Brisbane purchase

A stunning Brisbane residence with a purpose-built vintage car showroom has been snapped up for a cool $8.4 million by an overseas buyer, smashing the suburb sales record by a whopping $1.4 million.

To put that into perspective, the median house price in Clayfield is now $1.4 million, and there are 1035 suburbs across the state with a median below $1.4 million.

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Located at 43 Union St, the property was owned by Mark and Michelle Jansen, who run Old Timer Australia, a boutique business that matches buyers and sellers of high end or unique sports, racing and classic cars.

It was bought in late January by a California-based buyer, with the sale recently settling.

Jason Adcock of Adcock Prestige, who sold the six-bedroom showstopper, said the sale was another example of just how in demand luxury properties in Brisbane are to overseas buyers.

Australia’s international borders have reopened to the world after more than two years of closures due to the ongoing Covid-19 pandemic, with the first flights landing at Brisbane Airport yesterday.

“The reopening of international borders means that plenty of expats are now able to return to Australia and they will arrive cashed up and ready to buy,” Mr Adcock said.

“The previous record in Clayfield was $7 million which was achieved in 2018.

“The buyer of this property is moving here from California because the safety of living and working in Australia appeals to them.”

The Clayfield house sits on a huge 2681sq m of land, and has a pool and floodlit tennis court.

It has a high-end, purpose-built showroom, as well as an office and self-contained accommodation.

“We are being inundated with inquiries from expats and overseas buyers wanting to secure luxury homes in Brisbane,” Mr Adcock said.

“I’m predicting the reopening of borders will deliver another surge of record-making deals in the high end of the market.

“We’ll see a lot of owners of Brisbane luxury and riverfront properties decide now is the time to sell. It’s well and truly a seller’s market.”

Mr Adcock said a few years ago expats and overseas buyers had their eyes on the larger capital cities of Sydney and Melbourne, but now Brisbane was in their sights.

“They can buy twice the house in Brisbane for the same kind of money,” he said.

“Like many people during the pandemic a lot of them have learned they can live and work remotely from anywhere, and Brisbane is the city they are choosing to do that from.”

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